Issues
Congressman Chip Roy (R-TX), along with Congressman Dean Phillips (D-MN), Congressman Tom Emmer (R-MN), and Congressman Fred Upton (R-MI) introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the program. Congressman Roy stated, “Unfortunately, for…
On May 8, 2019, the Chairman and four Commissioners from the Federal Trade Commission testified in front the Subcommittee on Consumer Protection and Commerce in a hearing entitled, “Oversight of the FTC: Strengthening Protections for Americans’ Privacy and Data Security.” The FTC’s mission is to protect consumers from unfair or deceptive practices, however, as Chairman…
Congressman Dean Phillips (D-MN) and Congressman Chip Roy (R-TX) introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the program. The legislation will: Allow forgiveness for expenses beyond the 8-week covered period. Eliminate restrictions limiting…
The U.S. Department of Labor (DOL) held a background briefing regarding a final rule that allows employers to offer bonuses or other incentive-based pay to employees whose hours vary from week to week. Per the DOL, the final rule clarifies that payments in addition to the fixed salary are compatible with the use of the…
U.S. Senate Committee on Banking, Housing, and Urban Affairs convened a remote hearing today entitled “The Quarterly CARES Act Report to Congress.” In his opening statement U.S. Department of Treasury Secretary Steven Mnuchin stated that the Department has “worked closely with the[U.S.] Small Business Administration [SBA] on the Paycheck Protection Program (PPP) to ensure…
The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA and Department of Treasury are continuously…
In a interim rule, the U.S. Small Business Administration (SBA) provided that any borrower who applied for a PPP loan and repays the loan in full by May 14, 2020 will be deemed by SBA to have made the required certification concerning the necessity of the loan request in good faith. A FAQ Sheet produced…
The U.S. House Committee on Small Business held an online forum with Small Business Administration (SBA) lenders to discuss the Paycheck Protection Program (PPP) and future efforts. Throughout the online forum, similar sentiments were expressed from members of Congress and panelists praising the work done thus far from the U.S. Small Business Administration and U.S.…
The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA and Department of Treasury are continuously…
Major automotive aftermarket associations, including the Auto Care Association, Tire Industry Association and Service Station Dealers of American and Allied Trades, the Automotive Oil Change Association, and the Automotive Service Association, sent a letter to Congressional leaders in opposition of a new “Cash for Clunkers” type program from being included in the next COVID-19 stimulus…