S. 3918 · 116th Congress
Paycheck Protection for Producers Act
- Stage
- In committee
- Sponsor
- John Thune
- Introduced
- 2020-06-09
- Latest action
- 2020-06-09 · Introduced in Senate
Summary
Paycheck Protection for Producers Act
This bill modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by allowing certain farmers to calculate (or recalculate) their paycheck protection loan amount based on 2019 gross income.
Under current law, such farmers must calculate their paycheck protection loan amount based on net income.