President Trump
Donald John Trump Trump responds to calls to tear down monuments with creation of Trump Statues’ National Garden ‘: Children are taught at school to’ hate their own country ‘Trump accuses those who knock down statues of wanting to’ overthrow the American Revolution ‘ Legislation that extends the deadline for companies to apply for help under the Paycheck Protection Program (PPP) was signed on Saturday.
The bill extends the deadline for companies to apply for PPP loans until August 8. The program, created to help businesses affected by the closings related to the coronavirus pandemic, had expired on Tuesday night with approximately $ 130 billion unused.
The Senate, in surprise, passed the legislation unanimously Tuesday night, extending the program hours before it expired.
The House took the Senate bill and unanimously approved it Wednesday afternoon, sending it to Trump’s desk.
The loan program was established by the $ 2 trillion stimulus package negotiated by the White House and congressional leaders and enacted in late March.
The program experienced a chaotic rollout but has been popular as the Small Business Administration loaned more than $ 520 billion in emergency loans to more than 4.8 small businesses.
The extension comes as lawmakers on Capitol Hill prepare for negotiations on the next coronavirus stimulus round. House Democrats passed a $ 3 trillion stimulus bill in May that included aid to state and local governments and another round of $ 1,200 direct payments to Americans, but the measure gained little force in the Senate controlled by the Republican Party.
The White House pushed breaks into further discussions, saying it needed to fully assess the impact of the already signed stimulus.
Senate Republicans quietly begin crafting their proposal, but formal negotiations are not expected to begin until after the July 4 recess.
Trump in an interview with Fox Business Wednesday said he supports another round of direct payments. The President has also advocated for a payroll tax exemption and tax incentives for companies that spend money on restaurants and entertainment.
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