Trump Signs 5-Week PPP Extension With Fiscal Cliff Looming

Trump Signs 5-Week PPP Extension With Fiscal Cliff Looming

Tyler Durden

Sat, 07/04/2020 – 13:40

The White House released a statement Saturday morning indicating President Trump has signed a bill extending the Paycheck Protection Program (PPP) until August 8. 

On Saturday, July 4, 2020, the president signed into law: S. 4116, which (1) reauthorizes lending under the Paycheck Protection Program (PPP) through August 8, 2020; and (2) separates the authorized limits for commitments under the PPP from other Small Business Administration loan programs. – the statement read 

PPP is designed to support businesses impacted by coronavirus-lockdowns, which had expired last Tuesday with $130 billion in leftover funds.