House Republicans Seek Vote on Emergency PPP Bill

September 25 House Republicans led by Congresswoman Jaime Herrera Beutler (R-WA) filed a discharge petition to attempt to compel a vote on H.R.8265. The emergency bill to extend the Paycheck Protection Program (PPP), which stopped accepting new applicants in August, would:

• Offer qualifying businesses with 300 or fewer employees per location and a 25 perfect revenue reduction a second draw at PPP loans from the remaining $130 billion in PPP funds
• Require that second draw loans must be used on at least 60 perfect payroll
• Provide streamlined forgiveness of PPP loans of $150,000 or less
• Enable 501(c)(6) organizations to access PPP loans

All House Republicans and at least 19 Democrats would need to sign the discharge petition to meet the threshold for holding a vote on the legislation. IWLA joined a coalition of stakeholders in sending a letter of support for the discharge petition, calling for members of the House to put their constituents ahead of politics and help American small businesses.