Latest House COVID bill would reauthorize PPP

September 29, 2020

The House unveiled a $2.2 trillion COVID-19 relief bill this week as Congress continues negotiations on a fourth phase of pandemic relief legislation. The bill would authorize additional funds for the Paycheck Protection Program (PPP), which CUNA has called on Congress to provide, most recently in a letter sent this week to Congressional leaders.

It would also reinstate enhanced unemployment benefits through January, sending a second $1,200 payment to most Americans and provide relief for state and local governments.

CUNA has called on Congress to include bipartisan PPP forgiveness legislation into the next relief package. Sens. Kevin Cramer (R-N.D.), Bob Menendez (D-N.J.), Thom Tillis (R-N.C.) and Kyrsten Sinema (D-Ariz.) introduced a bill June 30 to allow for simple forgiveness of PPP loans under $150,000. Reps. Chrissy Houlahan (D-Pa.) and Fred Upton (R-Mich.) introduced a House companion bill July 25.

CUNA has also pushed for the inclusion of liability protections to protect businesses acting in good faith to comply with establish best practices.