U.S. Senate Passes PPP Extension through August 8, 2020

Last night, the U.S. Senate passed a bill extending the Paycheck Protection Program (PPP) until August 8, 2020 under unanimous consent. The passage of the bill comes hours just before deadline for applications closed at midnight June 30, 2020. Per Politico, Senators had agreed that small businesses would need further federal aid and, up until last night, there was still $130 billion left unspent. The bill needs to be passed by the U.S. House of Representatives and signed by President Trump.