NDIA approves of House changes to small-business pandemic aid program
ARLINGTON, VA – The National Defense Industrial Association issues this statement regarding the House of Representatives passing Thursday the Paycheck Protection Program Flexibility Act of 2020:
NDIA applauds the House passing the Paycheck Protection Program Flexibility Act. This legislation improves the program and gives businesses more options during these unique times. These include eliminating the two-year loan repayment restrictions, extending the forgiveness period beyond eight weeks, adjusting the 75%-to-payroll requirement and ensuring access to payroll tax deferment for businesses that take Paycheck Protection Program loans. All of these will help small businesses stay afloat and recover.
While there are many additional items needed to protect our warfighters, including a National Defense Authorization Act, NDIA is pleased with this bipartisan work and looks forward to both sides of the aisle bringing up and supporting future pieces of legislation.
For media queries and to speak to an NDIA representative, contact Evamarie Socha at the information below.