Eligible Entity Received News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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In the waning evening hours of December 21, 2020, Congress passed the “Consolidated Appropriations Act, 2021,” a new, comprehensive COVID-19 relief bill. The bill passed by a wide margin with bi-partisan support, with votes of 92-6 in the Senate, and 359-53 in the House. While President Trump initially expressed his displeasure with the bill, he ultimately signed it into law on December 27, albeit with demands for changes that are unlikely to be met.
Among the many different components of the law is a retooled version of the Paycheck Protection Program (PPP), with some modifications, effectuated through the “Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act” (PPP2). The law authorizes the U.S. Small Business Administration (SBA) to issue more than $284 billion in a new round of forgivable PPP2 loan funds. Importantly, PPP2 makes some retroactive changes to the CARES Act that may impac ....

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