Stimulus Package Include Ppp

The stimulus package will expand the ppp loan forgiveness program to include more eligible expenses such as supplier goods necessary to operate some business operation expenses materials.

Stimulus package include ppp. The new stimulus package would however expand the slate of expenses eligible for forgiveness for new or preexisting ppp loans. What s in the stimulus package for small businesses ppp loans and cultural grants rhonda abrams special to usa today finally. Ppp borrowers can set their ppp loan s covered period to be any length between 8 and 24 weeks to best meet their business needs.

New round of ppp funding included in economic stimulus package proposals congress and the administration continue to negotiate the next economic stimulus package including the next round of the payroll protection program funding as we get closer to the end of 2020. The covered expenses would include personal protective equipment and. Little has been written about whether the new law will allow ppp borrowers to deduct the expenses that they paid to receive forgiveness and many ppp borrowers will not survive if they have a big.

December 29 2020 the consolidated appropriations act of 2021 has been signed into law by the president. After months of squabbling and failing to reach a deal congress has passed a 900 billion coronavirus relief package that will include 284 billion in paycheck protection ppp loans for small businesses and other measures aimed at buttressing business. New stimulus package to include second draw of ppp loans update.

Stimulus deal includes new round of ppp tax relief for small business small businesses are in free fall as congress works on more ppp aid. The following summarizes the paycheck protection program ppp 2 provisions of the new stimulus law. Ppp loans will cover additional expenses including operations expenditures property damage costs supplier costs and worker protection expenditures.