PPP DEAL Act

Summary

PPP Deadline Extension Adjustment for Loans Act or the PPP DEAL Act This bill modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) by (1) extending from 8 weeks to 16 weeks the period during which a loan recipient must use their paycheck protection loan to be eligible for forgiveness; and (2) allowing a recipient 16 weeks from the date of the loan to eliminate a reduction in workforce, salary, or wages that would otherwise reduce their forgivable amount.

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Timeline

1. 13 May 2020

   Introduced

   Read twice and referred to the Committee on Small Business and Entrepreneurship.

   Source: IntroReferral

2. 13 May 2020

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 13 May 2020 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 13 May 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 13 May 2020

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 13 May 2020

  Open at official source

Sponsors

• Sen. Manchin, Joe, III [I-WV] · D · Sponsor
• Sen. Romney, Mitt [R-UT] · R · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Sponsor
• Sen. Gardner, Cory [R-CO] · R · Sponsor
• Ron Wyden · D · Sponsor
• Jacky Rosen · D · Cosponsor
• · sssb00 · Standing

Related records

• related to ← PPP DEAL Act