Insights

No word yet from DC

April 24, 2020

No word yet from DC on the passage of Stimulus 3.5.  All signs are indicating its approval.  I guess it just takes time to debate & let their constituents know their thoughts…or they just like to talk.

Stay tuned….

A few things that I think may be relevant or important for you to know:

  • Big Business Clarification:  The Department of Treasury added to the PPP FAQ today.  I assume this is in reaction to publicly traded companies receiving PPP funds.   Essentially, if you have the ability to access the capital markets, you would not be able to make a good faith certification that you need the PPP loan.
  • PPP Loan Forgiveness and State Income Tax:  Check out the article in Bloomberg about how States may handle PPP loan forgiveness.  If you are located in one of the high tax States, then you should be paying attention to what your legislators are considering.  (thanks to Chad Bumbaugh from Stambaugh Ness for sharing)
  • PA Governor Wolf Provides More Details on Reopening:  Check out the latest updates from Governor Wolf on the phased reopening of PA.   Maybe some of the heavily suggested recommendations from the business community are being heard.
  • Upcoming Webinars and Helpful Resources
    • RKL Weekly Coronavirus Webinar Series (Friday, 4/24 @ 11am):  Here is the link for the upcoming webinar:
    • Stambaugh Ness Town Hall (Tuesdays 2-4pm):  Here is the link for the webinar registration
    • National Small Business Town Hall presented by Inc.com and the US Chamber of Commerce (4/24 @ 12pm) Here is the registration link.

Please see all of our prior updates at the this link.  

As always, please don’t hesitate to email myself, Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com) or anyone in our office with questions or comments.  

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