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U.S. Senate to propose additional funding for Paycheck Protection Program this week (COVID-19)

U.S. Senate to propose additional funding

U.S. Senate Majority Leader Mitch McConnell (R-KY) today released a statement concerning additional funding for the Paycheck Protection Program (PPP).

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The PPP is one of the lending programs established by the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) (Pub. L. No. 116-136) that was signed into law on March 27, 2020. Read TaxNewsFlash

Senate Majority Leader McConnell’s statement reflects the following:

Congress needs to act with speed and total focus to provide more money for this uncontroversial bipartisan program. I will work with Secretary Mnuchin and Leader Schumer and hope to approve further funding for the Paycheck Protection Program by unanimous consent or voice vote during the next scheduled Senate session on Thursday.

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