Congress passes PPP extension bill; House passes infrastructure bill (COVID-19)
Congress passes PPP extension bill
The U.S. House of Representatives on July 1, 2020, passed, by unanimous consent, legislation to extend the deadline for applying for loans under the Paycheck Protection Program (PPP) from June 30 to August 8, 2020.
The Senate passed the bill on June 30, 2020.
The bill is S. 4116
The House on July 1, 2020, passed an amended version of an infrastructure bill—H.R. 2, the “Moving Forward Act”—by a vote of 233-188 (most House Democrats voted for the bill, while most House Republicans voted against the bill).
The bill includes a host of tax provisions.
- Read House Report 116-438 as reported by the House Rules Committee (which includes a summary of an amendment considered as adopted)
- Read House floor activities for the July 1 legislative day for amendments adopted on the House floor.
- Read a Joint Committee on Taxation (JCT) table of estimated revenue effects of the revenue provisions contained in Division M of H.R. 2, including the Manager’s Amendment: JCX-18-20
- Read TaxNewsFlash for background
The Senate has not scheduled action on H.R. 2. As a reminder, to become law, identical legislation must pass both the House and the Senate and be signed by the president.
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