New York Congresswomen introduces bill to extend Paycheck Protection Program deadline

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FILE – In this April 2, 2020 file photo, a notice of closure is posted at The Great Frame Up in Grosse Pointe Woods, Mich. The government is closing in on the $349 billion lending limit on its Paycheck Protection Program that is sending relief money to the nation’s small businesses. The Small Business Administration says that it has approved more than 1.6 million loans worth more than $339 billion. The program will likely reach its ceiling Thursday, April 16. (AP Photo/Paul Sancya, File)

WASHINGTON, D.C. (WWTI) — Members of Congress are fighting to extend the current Paycheck Protection Program deadline.

New York Congresswoman Elise Stefanik and Congresswoman Nicole Malliotakis cosponsored legislation introduced to the House on Thursday, aiming to extend the PPP deadline. The bill specifically would amend the Small Business Act and the CARES Act to extend the covered period for the program through June 30, 2021.

The current deadline to apply for the Paycheck Protection Program is March 31, 2021.

Both Congresswomen commented on the legislation. Their statements are as follows:

“More than $128 billion for small businesses through the Paycheck Protection Program remains, but the deadline to apply is less than 3 weeks away. North Country small businesses are still hurting, and it’s absolutely essential this bill is passed to give them more time to determine their loan amount eligibility, file an application, resolve any potential issues, and access these critical funds.”

Congresswoman Elise Stefanik

“I’ve heard from small businesses all across my district that are still struggling to keep their doors open because of the city and state’s arbitrary guidelines and closure mandates. Many of these businesses are still filling out their loan applications, struggling to navigate the difficulties of the SBA system while also working to keep their expenses in check. My bill aims to ensure these small businesses have ample time to apply and receive the financial assistance they desperately need because of government inaction.” 

Congresswoman Nicole Malliotakis

This legislation was introduced on March 11, 2021.

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