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Trump Signs New Law Relaxing PPP Rules

Trump Signs New Law Relaxing PPP RulesIn a rare display of bipartisanship, on June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA) in an attempt to address many concerns expressed by the small business community around the Paycheck Protection Program (PPP) aimed at providing COVID-19 relief.

On May 27, 2020, the House passed the PPPFA by 417-1 and the Senate approved it by unanimous consent on June 3. The new law addresses the following flaws in the original PPP program created under the CARES Act:

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