Reps. Nydia Velasquez (D-N.Y.) and Blaine Luetkemeyer (R-Mo.) yesterday introduced a bipartisan bill that would extend the deadline for new Small Business Administration Paycheck Protection Program loans through May 31. The bill also grants SBA an additional month to process loan applications submitted by that date before the program ends on June 30. The House is expected to vote on the bill next week.
A companion bill was also introduced in the Senate by Sens. Ben Cardin (D-Md.), Jeanne Shaheen (D-N.H.) and Susan Collins (R-Maine).