December 2020
A $908 billion COVID-19 economic relief package first unveiled December 1 by lawmakers is gaining traction from congressional Democrats and Republicans, sparking hope that passage could occur on or before December 18.
The plan, called the Senate “Gang of 8” Proposal, assigns $300 billion for small business support, which contains additional Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) loans. It also includes provisions for a simplified forgiveness process for PPP loans of $150,000 or less, and it enables expenses that are paid with PPP funds to be deductible.
View the full article here.
