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NECA Legislative Top Three 7/10/20: NECA Pushes Congress for Simplified Loan Forgiveness

Jul 10, 2020

1. NECA Urges Support for Simplified Forgiveness of Small PPP Loans

NECA, along with a large coalition, sent a letter in support of S.4117 , a bill to provide automatic forgiveness for Paycheck Protection Program (PPP) loans under $150,000, and for other purposes, which was introduced by NECA champions Sen. Kevin Cramer (R-ND) and Sen. Kyrsten Sinema (D-AZ).

NECA’s Look Ahead: This bill would provide the most simplified forgiveness processes for the smallest PPP loans and would benefit many NECA contractors who took loans in this category. NECA will continue to advocate for simplified PPP forgiveness for loans of all sizes.

2. House Committee Approves Budget Allocations for FY 2021

On July 9, the House Committee on Appropriations approved the budget allocations, known as 302(b)s, for the twelve FY 2021 bills that will be used to fund the government. The baseline passed the committee on a vote of 29 to 21.

NECA’s Look Ahead: Congress will have to vote on and pass all twelve bills before government funding expires on September 30, 2020. NECA will continue to monitor the appropriations process and advocate for the full funding of the government to avoid a shutdown.

3. Appropriations and COVID Relief on Agenda for July

Throughout the week, House appropriators have been working on legislation to fund the federal government through fiscal year 2021. Both the Senate and the House will return to Washington, D.C., on July 20 to work on Phase IV legislation and continue work on appropriations. The Senate Republican priority for Phase IV morning is anticipated to be liability protections for businesses while the House Democrats continue to push for the HEROES Act.

NECA’s Look Ahead: Congress has put itself in the position of having to address several major pieces of legislation before the August recess. NECA is optimistic on both the appropriations front and Phase IV legislation and will continue to advocate on behalf of the industry as appropriations season wears on.