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116-hr-6981116th Congress

PPP DEAL Act

Sponsored By: Representative Lamb, Conor [D-PA-17]

Unknown

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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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Lamb, Conor [D-PA-17]

PA • D

Cosponsors

  • Rep. Fletcher, Lizzie [D-TX-7]

    TX • D

    Sponsored 5/22/2020

  • Rep. Fitzpatrick, Brian K. [R-PA-1]

    PA • R

    Sponsored 5/22/2020

Roll Call Votes

No roll call votes available for this bill.

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