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Below is a report that DML News gives a 4 OUT OF 4 STARS trustworthiness rating. We base this rating on the following criteria:

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by Politico:

The Senate in a surprising move Tuesday evening passed legislation that would keep the government’s massive small business rescue program alive just as it was set to close down within hours with $130 billion left unspent.

The bill approved by unanimous consent would give the Small Business Administration authority to continue approving Paycheck Protection Program loans, which can be turned into grants, until Aug. 8. To keep the loans flowing, the House would need to pass the legislation and send it to President Donald Trump for his signature.

The article goes on to state the following:

Senators reached a consensus after it became clear in recent weeks that struggling employers would need further federal aid. As of Tuesday evening, the SBA had approved $520.6 billion via nearly 4.9 million loans.

Sen. Susan Collins (R-Maine) announced in a Twitter post, “PPP Update – the Senate unanimously passed a bipartisan bill I cosponsored that will extend the deadline for small businesses to apply for a forgivable Paycheck Protection Program loan until August 8th.

“Senators Rubio, Cardin, Shaheen and I will continue our bipartisan negotiations on a bill to allow especially hard-hit businesses to be eligible to receive a 2nd PPP loan. Approximately $130 billion in PPP funding remains available to assist small businesses and their employees.”

Sen. Marco Rubio tweeted earlier Tuesday, “I have no objection to extending the #PPP deadline until August 8th. But the vast majority of #SmallBusiness that wanted to benefit from the program have already used it. What we really need to pass very soon is targeted help for those who need a second round of aid.”

To get more information about this article, please visit Politico.

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