(SitNews) Washington, D.C. - U.S. President Joe Biden last week signed into law the
PPP Extension Act of 2021 - legislation introduced by U.S. Senate Committee on Small Business & Entrepreneurship Chair Ben Cardin (D-Md.) and U.S. Senators Susan Collins (R-Maine) and Jeanne Shaheen (D-N.H.) to extend the deadline for the Paycheck Protection Program to May 31. The bill also gives the U.S. Small Business Administration an additional month through June 30 to process any backlogged applications.
“PPP has supported millions of small businesses through the pandemic, and it is clear that the program must continue to be a lifeline for small businesses and nonprofits,” said Senator Cardin. “It is vital that we in Congress continue working in a bipartisan manner to fine-tune PPP in the weeks ahead to make the program more fair and equitable.”
Will Tax Hikes Help or Hurt New York s Economy? PUBLISHED 4:32 PM ET Apr. 06, 2021 PUBLISHED 4:32 PM EDT Apr. 06, 2021
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New York s tentative $212 billion budget raises taxes by $4 billion, a burden being carried by businesses and some of its wealthiest residents. The tax increases come as New York is working to cut through a recession induced by a pandemic that has killed tens of thousands of people, shuttered businesses, and thrown 2 million people out of work.
For business organizations, it s yet another sign New York is a costly state to operate in. For progressives, the budget could be a rising tide that lifts all boats.
Waitresses that worked there left to become contact tracers, while bartenders went on unemployment. Owner Dean O’Neil was never been able to establish a solid workforce. On most nights, he’s only had one chef working in his kitchen.
“I couldn’t work out really why. And then I found it was basically they could receive money without having to work. Then they wanted to be paid only in cash. It’s unacceptable” said O’Neil.
His workers took advantage of the $300 weekly enhanced unemployment insurance included in the Wuhan coronavirus (COVID-19) stimulus package signed by former President Donald Trump on December 27 last year. President Joe Biden extended the $300 per week unemployment insurance supplement up to Sept. 6 when he signed the $1.9 trillion stimulus package on March 11.
WBGZ Radio 4/2/2021 |
By Kevin Bessler - Illinois Radio Network
The pandemic has many Illinoisans itching to get out and spend money, and some are sparing no expense on Easter.
The National Retail Federation said consumers plan to spend $179.70 on the Easter holiday, the highest on record. A total of 79% of Americans will celebrate the holiday and spend a collective $21.6 billion, down slightly from last year’s pre-pandemic forecast of $21.7 billion.
“They’re splurging a little bit more on food, on candy and gifts for those Easter egg hunts, and some of those activities we think of as traditional and normal,” said Kathleen Cullen, NRF’s senior director of industry and consumer insights.
President Joe Biden Signs Legislation Extending PPP Deadline
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President Joe Biden has signed the PPP Extension Act into law extending the deadline for small businesses to apply for funds to June 30.
The bill, introduced by Sen. Ben Cardin (D-Md.), Sen. Susan Collins, and Sen. Jeanne Shaheen (D-N.H.) will not only extend the PPP deadline but will also give the Small Business Administration (SBA) an additional month to process backlogged PPP applications.
The bill was co-sponsored by more than a dozen politicians including Sen. Roger Marshall (R-Kan.), Sen. Dan Sullivan (R-Alaska), Sen. Jacky Rosen (D-Nev.), Sen. Lisa Murkowski (R-Alaska), Sen. Patrick Leahy (D-Vt.), Sen. Ron Wyden (D-Ore.), Sen. Thom Tillis (R-N.C.), Sen. Jon Ossoff (D-Ga.), and others.