Senate Passes Agreement to Increase PPP Funding
An agreement has been reached to pass legislation to add money into the Paycheck Protection Program (PPP), a small-business loan program established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The agreement passed the U.S. Senate during a Tuesday afternoon session, with the House on track to follow Thursday, though lawmakers in that chamber need to return to Washington for a recorded vote. President Donald J. Trump (R) tweeted support for the measure in advance of the legislation’s initial release and said he would sign it.