The House of Representatives passed a bill Wednesday extending the timeline into next month for small businesses to apply for forgivable loans, building on a surprise vote in the Senate a day earlier. The deadline was Tuesday for the Paycheck Protection Program, which was created by Congress in March to provide small businesses with payroll and expense relief during the pandemic. About $130 billion of the original $670 billion set aside has remained unclaimed.

Source: Wall Street Journal July 01, 2020 21:54 UTC