NASE CEO & President Keith Hall Participates in SBA Town Hall on PPP Changes

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Washington Watch

NASE CEO & President Keith Hall Participates in SBA Town Hall on PPP Changes

Mar 09, 2021

On Saturday, March 6, 2021, NASE CEO & President Keith Hall joined the Small Business Administration for a webinar on the recently announced (see above) changes to the PPP program specific to self-employed individuals. You can view the webinar and the informative Q&A here.

Senate Pass America Rescue Plan Setting Up President Biden’s First Legislative Victory

On Saturday, March 6, 2021, the Senate passed the American Rescue Plan, sending the bill back to the House for approval. The $2T rescue plan is largerly geared at supporting Covid-19 recovery and includes the following for small business:

The Senate bill language is out. How does it differ from the House bill?

 - $15 billion Targeted EIDL Grants
 - $10 billion to recipients that hadn’t received the rest of the $10k from the December Relief Bill
 - $5 billion is being set aside for businesses ($5,000/business) with 50% economic loss, employing not more than 10 people even if they received money in the December Bill
 - $25 billion New Bar and Restaurant Program
 - $7 billion for Paycheck Protection Program
 - $175 million for the Community Navigator Program to provide outreach to help businesses

The Senate passed version also includes an extension of Unemployment Insurance through September 6, 2021, but decreases the supplemental from $400 to $300. Additionally, the Senate language does not include a $15 minimum wage mandate, a significant difference from the House language.

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