Sen. Grassley: Bipartisan Senators Introduce Bill to Clarify Small Business Expense Deductions Under PPP
May 07, 2020
May 07, 2020
WASHINGTON, May 7 -- Sen. Charles E. Grassley, R-Iowa, issued the following news release:
Senate Finance Committee Chairman Chuck Grassley (R-Iowa) joined Sens. John Cornyn (R-Texas), Ron Wyden (D-Ore.), Marco Rubio (R-Fla.) and Tom Carper (D-Del.) to introduce the Small Business Expense Protection Act, which would clarify the Small Business Administration's Paycheck Protection Program (PPP) so small businesses can deduct expenses paid with a forgiven PPP loan from their taxes.
Senate Finance Committee Chairman Chuck Grassley (R-Iowa) joined Sens. John Cornyn (R-Texas), Ron Wyden (D-Ore.), Marco Rubio (R-Fla.) and Tom Carper (D-Del.) to introduce the Small Business Expense Protection Act, which would clarify the Small Business Administration's Paycheck Protection Program (PPP) so small businesses can deduct expenses paid with a forgiven PPP loan from their taxes.