State Rep. Steve Malagari, D-Montgomery, said he will sponsor a resolution urging Congress to extend the eight-week maximum for loan forgiveness to a 16-week minimum for the Paycheck Protection Program.
“While the recently implemented Paycheck Protection Program has allowed many of our hardworking Pennsylvanians to continue to make payroll or pay their rent, the current eight-week limit is not enough,” Malagari said. “By allowing for a 16-week limit, we allow an additional eight weeks to provide financial security and help so many that are struggling to keep up with costs. We have to provide our families with more ways to put food on their table and provide for themselves. Small businesses and employees benefit.”
The Paycheck Protection Program is a U.S. Small Business Administration loan that helps businesses keep their workforce employed during the coronavirus pandemic.