Senate Passes Bill to Increase Paycheck Protection Program and Economic Injury Disaster Loan Funding

April 21, 2020 – The Senate passes Bill amending the CARES Act to increase funding for PPP and EIDL programs.  The Bill is reportedly going to the House where a vote is expected this Thursday.  Media reports indicate the Bill adds $310 billion to the PPP and $60 billion to EIDL programs as well as funds for other relief.  If passed and signed into law by Thursday evening the PPP and EIDL programs may be re-opened for new applications as early as Thursday night or Friday morning.  Final text of the Senate Bill can be found here.  A summary can be found here.   Media reports can be found at Fox News, Arizona Republic and The Hill among other sources.

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