MPL General Counsel Corner – Why are we waiting? & Senate Passes PPP

April 21, 2020

As reported yesterday, COVID Relief Package 3.5 is being debated.  It appears to be somewhere in the neighborhood of a $470B package, with $370B earmarked for small business funding ($310B for the PPP loans).

The real question:  Why are we waiting?

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

  • If I don’t get or take a PPP or EIDL loan, what are some other options?  Trout CPA published a good overview of the various business tax programs which have been launched under the CARES Act.  NOLs and Employee Retention Tax Credits could be other relief options.
  • PA’s Economic Reopening and some other interesting data:  Check out the latest update from Joel Berg at BizNewsPA.  He overviews the reopening plan announced by Governor Wolf yesterday and also highlights some of the largest local PPP lenders.
  • Beware of IRS Scams:  I am sure you know the general ways that the IRS will contact you, but in case you don’t here are some helpful reminders:
    • The IRS will generally first contact people by mail, not by phone, about tax-related matters.
    • If the IRS does contact you by telephone, they will not insist on any pre-payment using an iTunes card, gift card, prepaid debit card, money order, or wire transfer, in order to receive economic impact payments.
    • The IRS will also never request personal or financial information by e-mail, text, letter, or any social media.
  • Upcoming Webinars and Helpful Resources
    • RKL Weekly Coronavirus Webinar Series (Fridays):  Here is the link for the upcoming and prior webinars.  Also, check out the overview of their PPP Loan Forgiveness Cash Flow Forecast.
    • Stambaugh Ness Town Hall (Tuesdays 2-4pm):  Here is the link for the webinar registration
    • National Small Business Town Hall presented by and the US Chamber of Commerce (4/24 @ 12pm) Here is the registration link.

The Senate passed the Paycheck Protection Program Increase Act of 2020 late this afternoon.  Now it moves to the House, which hopefully will not be the stumbling block like last time.

 Here are the major highlights:

  • PPP program increased from $349B to $659B
  • EIDL program increased from $10B to $20B
  • Allows agricultural enterprises with not more than 500 employees to receive EIDL grants and loans
  • Sets aside additional PPP funding for Insured Depository Institutions, Credit Unions and Community Financial Institutions.
  • Provides an additional $2.1B for Salaries and Expenses account to remain available until September 30, 2021 (I assume this is the extension of the infamous June 30th, 2020 deadline under the CARES Act, but it is not clear in the high level bullet points)
  • Provides $50B for Disaster Loan Program Account to remain available until expended.
  • Provides an additional $10B for Emergency EIDL Grants to remain available until expended.

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

As always, please don’t hesitate to email myself, Andy Miller (, Christian Miller ( or anyone in our office with questions or comments.  



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