Mnuchin Urged to Raise PPP Non-Payroll Forgiveness Cap to 50%

A bipartisan group of senators asks U.S. Treasury Secretary Steven Mnuchin and Small Business Administrator Jovita Carranza to raise the Paycheck Protection Program’s non-payroll forgiveness cap from 25% to 50%.

• “The 25 percent threshold is problematic for several business sectors, especially those whose mortgage, rent, or utility payments constitute a large portion of fixed monthly expenses,” Sens. Robert Menendez, John Cornyn, others write in letter to Mnuchin and Carranza
• Related: Pelosi Wants Democrats to Move First in Devising Next Stimulus

To contact the reporter on this story:
Megan Howard in Washington at mhoward70@bloomberg.net

To contact the editor responsible ...