NECA, along with a large coalition of industry groups lead by the U.S. Chamber of Commerce, sent a letter to the Administration and Congress asking for legislative fixes to the Paycheck Protection Program (PPP).
NECA’s Look Ahead: A small legislative package to fix the PPP is currently being negotiated and could be brought to the House floor as early as next week.
Specifically, we asked Congress to:
(1) Repeal the Paycheck Protection Program’s (PPP) 75%-25% rule.
(2) Extend the eight-week period for purposes of calculating loan forgiveness.
(3) Extend the June 30 safe harbor date for rehiring and restoration of pay.