Stimulus Update: PPP Loan and 2nd Stimulus Check Updates (Democrats, Republicans, Trump)
Second Stimulus Check Update and PPP Loan Forgiveness Yesterday we got some astonishing news from unemployment showing that the unemployment rate is actually much lower than anybody had predicted. Previously it was anticipated that the unemployment rate could be as high as 25% for this last quarter. On Friday the new unemployment numbers came out much lower than anticipated at 13.3%. This means people are getting back to work as states come out of the lockdown. All of this comes at a time when Republicans are trying to find a way to avoid having to address Democratic proposals like the HEROES act or do a second wave of stimulus checks. Moreover, Friday Trump signed a bill that provides more flexibility for business to utilize the $2.2 trillion dollars in Paycheck Protection Program (PPP) money they received, to be spent on alternate expenses other than just payroll. Today we are going to talk about what Republicans, Democrats and President Trump are saying about another stimulus package and what the newly passed changes to the Paycheck Protection Program (PPP) could mean for small business across America.