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Dear Friends,
On Friday, President Trump signed into law the Paycheck Protection Program (PPP) Flexibility Act, a bipartisan bill I supported that provides small businesses more time and flexibility to use their PPP loans. The bill extends the covered period for loan forgiveness from 8 weeks after the date of loan disbursement to 24 weeks after the date of loan disbursement. Additionally, the bill reduces the requirement that 75 percent of a borrower’s loan proceeds must be used for payroll costs to qualify for full loan forgiveness to 60 percent of a borrower’s loan proceeds. The Treasury Department and the U.S. Small Business Administration (SBA) will issue rules guidance in the coming weeks to address these changes. To learn more, click here.
Separately, here is an article from The San Joaquin Valley Sun detailing the National Parks Service’s efforts to reopen Sequoia and Kings Canyon National Parks.
Finally, the Central California Blood Center is the first blood center in the nation to supply local and national hospitals with pathogen-reduced, convalescent plasma from recovered Coronavirus patients for patients currently combating Coronavirus. If you have recently recovered from Coronavirus and are interested in participating, please click here for more information. For other helpful resources regarding Coronavirus, visit the Coronavirus Updates page on my website here.
Sincerely,
Devin Nunes
Member of Congress
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