Daily Tax Report ®

HILL TAX BRIEFING: Deadline Day for Small Business Loan Program

June 30, 2020, 10:18 AM

Today is the last day to apply for a forgivable loan through the Paycheck Protection Program, a pillar of the government’s pandemic response.

There are multiple ongoing efforts to change or build on the program as that deadline approaches. The PPP has facilitated nearly 5 million government-backed loans totaling more than $518 billion, according to Small Business Administration data on loan approvals through Saturday.

That left about $134 billion in funding available heading into the final days to apply.

Some of the efforts to tweak the loan program involve loosening eligibility restrictions that have prevented some...

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