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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 ...
The bill is referred to as "Phase 3.5" of Congress's coronavirus response. [ 8 ] [ 9 ] It followed the first three phases: phase one "was an $8.3 billion bill spurring coronavirus vaccine research and development" (the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 ), which was signed into law on March 6, 2020.
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]
After overseeing the pandemic-era Paycheck Protection Program (PPP), which was a bloated, wasteful mess, Michael Faulkender is failing up. The PPP Was a COVID-Era Disaster. Trump Wants To Promote ...
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.
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.
Kabbage provided small businesses with debt facilities. In March 2020, Kabbage suspended lending services for active and new customers in favor of offering loans to U.S. businesses through the PPP (Paycheck Protection Program) introduced as part of the Trump administration's COVID-19 economic stimulus package.
The U.S. government has awarded coronavirus relief loans to several subsidiaries of Chinese companies, including one linked to the Chinese military that drew scrutiny from Congress, according to ...