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ADA, Others Ask Congress, Agencies To Overhaul Paycheck Protection Program

What is the Paycheck Protection Program? (A Simple Guide) | Bench ...
The ADA News (5/21, Garvin) reports, “The ADA and more than 100 stakeholders are urging Congress to overhaul the Paycheck Protection Program to help align the program with states’ reopening and ensure more small businesses remain in operation.” In a May 20 letter to leaders in the House, Senate, U.S. Department of Treasury, and Small Business Administration, the coalition “requested emergency legislative and administrative action” to “repeal the Paycheck Protection Program’s 75%-25% rule, which requires that 75% of the loan’s funds go towards retaining or rehiring employees”; “extend the eight-week period for purposes of calculating loan forgiveness”; and “extend the June 30 safe harbor date for rehiring and restoration of pay.”

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