A bill to move the Paycheck Protection Program (PPP) application deadline from March 31 to May 31 sailed through the U.S. House of Representatives on Tuesday, March 16, passing in a 415-3 vote that sends the legislation to the Senate for consideration.
The nearly unanimous vote came after several dozen business groups, including the AICPA, endorsed the PPP Extension Act of 2021, which extends the filing deadline for PPP applications and provides an additional 30 days for the U.S. Small Business Administration to finish processing applications received by May 31. Read more.