Passage follows rejection of GOP amendments
The Senate voted 92-7 Thursday to extend the Paycheck Protection Program to the end of May after rejecting two Republican amendments and waiving a budget point of order.
The vote cleared the measure that would extend the program, now due to expire on March 31. The House passed the bill 415-3 earlier this month. It next heads to President Joe Biden for his signature.
The popular program has issued 7.5 million loans totaling $687 billion to small businesses during the last year, according to data from the Small Business Administration. The bill would also allow the agency an extra month to process applications after the program closes. Continue reading.