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GOP’s Stimulus Package Includes Second Round Of PPP Funding

What You Need to Know About the Paycheck Protection Program (PPP ...
The Washington Post (7/27, Stein, Meckler, Romm) reports, “Senate Republicans on Monday unveiled an approximately $1 trillion stimulus package that Majority Leader Mitch McConnell (R-Ky.) has said will likely represent lawmakers’ last major legislative response to the coronavirus pandemic.” The “HEALS Act” is “expected to kick off negotiations with Congressional Democrats, who have already vowed to oppose many of the provisions in the Republican plan.” As part of the plan, the GOP lawmakers and Trump Administration officials are “including a second round of funding for the Paycheck Protection Program.”

Politico (7/27, Warmbrodt) reports, “The proposal released by Senate Small Business Chair Marco Rubio of Florida would let businesses apply for second Paycheck Protection Program loans.” Under the plan, “Congress would provide $190 billion for the loans,” and “it would also make available funding for separate low-interest loans that could be paid back over 20 years, to provide working capital and refinance existing debt.”

The following sources provide additional coverage: Bloomberg (7/27, Niquette), Fox Business (7/27, De Lea), the Washington Examiner (7/27, Krishan), and CNN (7/27, Foran, Mattingly).

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