May 29, 2020

Weekly Wrap Up

Week 22 (May 29)

As the coronavirus continues to spread across the world and in the United States, my colleagues and I are still committed to protecting the lives and livelihoods of the American people. Months into the pandemic, devastating numbers continue to rise with over 100,000 lives lost, nearly 1.7 million confirmed cases and more than 38 million initial unemployment claims in the past nine weeks. 

This week, the House took an additional step to support small businesses and workers by passing a bipartisan bill. The PPP Flexibility Act, bipartisan legislation that reflects the needs of vulnerable small businesses on Main Street, increases flexibility and access to PPP loans.

This Week’s Votes

This week, House Democrats passed: 

  • H.R. 7010 – Paycheck Protection Program Flexibility Act of 2020 – amends the Paycheck Protection Program to modify certain provisions to the forgiveness loans and defers payroll taxes.

    • Increases the current limitation on nonpayroll expenses (such as rent, utilities, mortgage interest) for loan forgiveness from 25 to 40%.

    • Removes retroactivity on the increase of maturity period from 2 to 5 years.

    • Clarifies Safe Harbors Language and extends borrower deferral.

Catch Us In The News

What We’re Reading

Looking Ahead

Next week, the House is out of session but committees will be meeting for regular business. The Congressman will be participating remotely from his District office, distributing food at local food banks, and meeting constituents.