Second Stimulus Bill For Business

The 900 billion stimulus bill that s headed to president trump s desk includes about 284 billion in additional funding for the paycheck protection program which offered small employers.

Second stimulus bill for business. Text of the new 900 billion stimulus bill the measure is the second largest federal stimulus package after the 2 trillion cares act that congress approved in march. Fewer than 300 employees and at least a 25 drop in gross receipts in any 2020 calendar quarter compared to the same quarter in 2019. The new coronavirus stimulus bill includes an additional 248 billion that is given for the funding of the second draw paycheck protection program loans new provisions for the ppp that tilts the favor further to the ppp beneficiaries funding amounting to 15 billion for live venues independent movie theaters and cultural institutions and also a 20 million fund for the economic injury disaster loan program.

The stimulus bill also authorizes a second round of loans for businesses that have already obtained a ppp loan. It also clarifies that you don t have to pay taxes on the loan forgiveness or grants. A second bill worth 160 billion accounts for the major sticking points of a boost to state and local governments which has been opposed by republican leadership and increased liability.

But these are available only for businesses with. The second stimulus bill extends payroll taxes for another year to january 1 2022. This includes the following programs.

Social media goes ballistic after gop plan allows for deduction of business lunches. The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump.