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President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
Provisions of the Paycheck Protection Program and Health Care Enhancement Act include the following. Appropriates an additional $320 billion of funding for the Paycheck Protection Program, which provides low-interest loans for payroll costs and other expenses to small businesses that are forgivable under certain circumstances. [19]
Worrell was one of six people arrested in March on allegations of stealing a total more than $3 million from the Paycheck Protection Program, an economic stimulus enacted in 2020 under the ...
As a result, Dunkley’s business received a Paycheck Protection Program loan for $18,540 and another under the Economic Injury Disaster Loan program for $17,500 during the pandemic.
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
A South Florida man facing prison for his role in stealing millions from a federal COVID-19 loan program not only faces a prison term but also another consequence of his crime — loss of his ...
In the United States, federal assistance, also known as federal aid, federal benefits, or federal funds, is defined as any federal program, project, service, or activity provided by the federal government that directly assists domestic governments, organizations, or individuals in the areas of education, health, public safety, public welfare, and public works, among others.
Continuing Small Business Recovery and Paycheck Protection Program Act – The bill, introduced by senator Marco Rubio, is an extension of the Paycheck Protection Program, providing money for additional loans, while reserving loans only for companies with under 300 employees and at least a 50% reduction in gross receipts. [20]