The House is in session this week and will be voting remotely for the first time ever, CUNA Chief Advocacy Officer Ryan Donovan says in this week’s Advocacy Update. While things appeared to be at a standstill after House passage of the HEROES Act, Donovan noted things change quickly, and this week the House is expected to consider two bills making changes to the Paycheck Protection Program (PPP).
“One of the things we’ve observed in the last 10 weeks as Congress has worked to keep the burgeoning health crisis from becoming an full-fledged economic and financial crisis is that members of Congress and their staff have benefitted from becoming reacquainted with credit unions, better understanding their capital and liquidity situation and seeing the work credit unions are doing to serve their members during this time. It’s crucial we continue to engage, not just nationally, but locally and virtually, with members of Congress and their staff.”
The two bills are the Small Business Transparency and Reporting for the Underbanked and Taxpayers at Home (TRUTH) Act (H.R. 6782) and the Paycheck Protection Program Flexibility Act of 2020.
H.R. 6782 would require the Small Business Administration to make the following information publicly available:
The Paycheck Protection Program Flexibility Act would:
The full Advocacy Update can be found below.