Congress Passes $900 Billion Relief Act and Revises the PPP

After months of intense negotiations, Congress passed a new relief bill this week. Assuming President Trump signs the bill, or Congress overrides a veto, it delivers change just in time for the new year.

Tucked into the bill’s 5,000-plus pages is a new round of PPP funding for those small businesses most “hard hit” by the COVID-19 crisis. The Relief Act’s “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act” (PPP2) provides more avenues of relief for fewer businesses. Best of all, these changes apply retroactively to some PPP recipients.

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