Sen. Gillibrand Joins Bipartisan Call on Trump Administration to Raise SBA's PPP Non-Payroll Forgiveness Cap
May 08, 2020
May 08, 2020
WASHINGTON, May 8 -- Sen. Kirsten Gillibrand, D-New York, issued the following news release:
U.S. Senator Kirsten Gillibrand joined a bipartisan group of senators to urge the Trump Administration to raise the Paycheck Protection Program's (PPP) non-payroll forgiveness cap from 25% to 50%. PPP loans allow loan proceeds used towards payroll, utilities, mortgage interest, and rent payments to be forgiven when at least 75% of the loan is spent on payroll. In a letter sent to U.S. Treasu . . .
U.S. Senator Kirsten Gillibrand joined a bipartisan group of senators to urge the Trump Administration to raise the Paycheck Protection Program's (PPP) non-payroll forgiveness cap from 25% to 50%. PPP loans allow loan proceeds used towards payroll, utilities, mortgage interest, and rent payments to be forgiven when at least 75% of the loan is spent on payroll. In a letter sent to U.S. Treasu . . .