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Congress passed a wide-ranging COVID-19 stimulus package on December 22, 2020, that provides over $900 billion in aid to individuals and businesses. If signed into law, the stimulus package will address two areas of importance to small businesses: the Families First Coronavirus Response Act (FFCRA) and the Paycheck Protection Program (PPP).
Families First Coronavirus Response Act Partially Extended
Congress declined to extend the mandatory leave requirements of the FFCRA in the stimulus package but did allow companies to continue to receive payroll tax credits if they voluntarily provide paid leave to their employees for reasons that are covered by the law. The FFCRA requires employers to provide up to 12 weeks of paid leave to employees who are unable to work for a variety of reasons related to COVID-19. We discuss the provisions of the FFCRA in a prior alert.
Nashville architectural and engineering firms with the largest PPP loans
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See where more than $20 billion in Paycheck Protection Program loans flowed into Pennsylvania
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