PPP Deadline Extension Bill Passes House Vote
As the March 31 deadline for the Paycheck Protection Program (PPP) approaches, the House of Representatives voted to pass a 60-day extension to the program early Wednesday.
The House passed the PPP Extension Act of 2021, H.R. 1799, in a 415-3 vote, pushing the expiration date to May 31 and gave the Small Business Administration (SBA) authority to continue to process pending applications for another 30 days after that.
Tennessee Society of CPAs, along with the AICPA and a coalition of nearly 100 trade associations and chambers of commerce, sent letters expressing concerns about unresolved PPP processing issues and thanking the PPP Extension Act sponsors.
The PPP extension already has Bipartisan support in the Senate and is expected to pass this week.