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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 ...
Paycheck Protection Program and Health Care Enhancement Act is a $484 billion law that increases funding to the Paycheck Protection Program and also provides more funding for hospitals and testing for COVID-19. The law was enacted as a response to the outbreak of the COVID-19 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]
The government has forgiven at least $120 million in PPP loans to companies that had higher revenues and earnings during Covid than prior to it.
Real estate firms with one worker got $3.9 billion in government-approved Paycheck Protection Program (PPP) loans. But during Covid, the housing market boomed.
The signature small business federal relief program introduced early in the COVID-19 pandemic offered loans up to $10 million that were forgivable if used for approved expenses such as payroll ...
Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 – March 2020; Families First Coronavirus Response Act – March 2020; Coronavirus Aid, Relief, and Economic Security Act (CARES Act) – Includes $1200 stimulus checks, March 2020; Paycheck Protection Program and Health Care Enhancement Act – April 2020
More than a million of those forgiven loans were to companies with just one employee, at a cost of $12.8 billion, or an average of $11,497 per job.