House Votes to Extend PPP Until May 31
Earlier today, the U.S. House voted to extend the Paycheck Protection Program (PPP) for two months.
The bill, the PPP Extension Act of 2021, passed the House on a 415-3 vote. It would extend the program to May 31, instead of the current date of March 31, and give the Small Business Administration an additional 30 days to process loans.
Next, the bill goes to the Senate, where it is expected to be approved. Majority Leader Schumer has said that Democrats want to pass the measure as quickly as possible.