Congress Extends PPP Application Deadline by 2 Months

Democrats and Republicans don't agree on much these days. But on Thursday, senators from both sides of the aisle overwhelmingly approved an extension of the government's Paycheck Protection Program (PPP). The program's application deadline and its funding authority will now terminate at the end of May, as opposed to the original March 31 date.

The measure also gives the Small Business Administration a June 30 deadline to process the program's applications.

All told, the vote was 92 to 7. Earlier this month, the House of Representatives gave the green light to the extension in a similarly lopsided vote, 415 to 3.

Source Fool.com