Paycheck Protection for Producers Act This bill modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by allowing certain farmers to calculate (or recalculate) their paycheck protection loan amount based on 2019 gross income. Under current law, such farmers must calculate their paycheck protection loan amount based on net income.
Agricultural prices, subsidies, creditBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earnings
Paycheck Protection for Producers Act
USA116th CongressHR-7175| House
| Updated: 6/11/2020
Paycheck Protection for Producers Act This bill modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by allowing certain farmers to calculate (or recalculate) their paycheck protection loan amount based on 2019 gross income. Under current law, such farmers must calculate their paycheck protection loan amount based on net income.
Agricultural prices, subsidies, creditBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earnings