Surprisingly Senate Agrees to Extend Small Business Rescue

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Small businesses are in for a good ride. It seems to be their season.

Politico reports, “The Senate in a surprising move Tuesday evening passed legislation that would keep the government’s massive small business rescue program alive just as it was set to close down within hours with $ 130 billion left unspent.”

“We have literally millions of small businesses nationwide at risk,” Sen. Chris Coons said.

“The bill approved by unanimous consent would give the Small Business Administration authority to continue approving Paycheck Protection Program loans, which can be turned into grants, until Aug. 8. To keep the loans flowing, the House would need to pass the legislation and send it to President Donald Trump for his signature.”

 

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