As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by CNN.com:
Washington (CNN) — The Senate on Wednesday evening passed by voice vote a House-passed Paycheck Protection Program reform bill, clearing it for President Donald Trump’s signature.
Earlier in the afternoon, GOP Sen. Ron Johnson of Wisconsin objected to a prior effort to pass the bill via unanimous consent, blocking approval. But Johnson agreed to let the bill pass after getting a letter entered into the record clarifying the authorization period.
The article goes on to state the following:
The bill, which passed the House last week, gives business owners more flexibility and time to use loan money and still get it forgiven as part of the Paycheck Protection Program, set up to help struggling small businesses with emergency loans during the pandemic.
The vote in the House approving the legislation was nearly unanimous at 417-1. Republican Rep. Thomas Massie of Kentucky was the sole member to vote against the bill.
“The Senate has approved via unanimous consent,” wrote Chad Pergram with Fox News.
The Senate has approved via unanimous consent the House-approved bill to give small businesses via the Paycheck Protection Program. No senator objected.
The Senate and the House are now in alignment and the measure goes to the President for signature.
— Chad Pergram (@ChadPergram) June 3, 2020
Passed by voice vote: H.R.7010, Paycheck Protection Program Flexibility Act of 2020.
— Senate Cloakroom (@SenateCloakroom) June 3, 2020
fairly big reforms to the Paycheck Protection Program passed the Senate today. The new rules:
-allow businesses up to 24 weeks to spend the loan money (up from 8!)
-push back the rehiring deadline
-allow 40% of the loan to be used on non-payroll expenses#mepolitics pic.twitter.com/CWXFQFlsnu
— Jessica Piper (@jsscppr) June 3, 2020
— FOX Carolina News (@foxcarolinanews) June 3, 2020
To get more information about this article, please visit CNN.com.