PIA Praises Passage of PPP Extension Act (H.R. 1799)
WASHINGTON – The National Association of Professional Insurance Agents praised passage in the Senate of H.R. 1799, the PPP Extension Act of 2021, by a vote of 92-7. The House previously passed it on March 16 by a vote of 415-3.
PIA supports this bipartisan legislation and has been advocating for its passage, along with a broad coalition of business groups, which would extend the Paycheck Protection Program (PPP) beyond its current expiration date of March 31, 2021. The PPP Extension Act would delay the PPP loan application deadline by two months, creating a new end date of May 31, 2021, and it would provide an additional 30 days beyond May 31 for the Small Business Administration (SBA) to process loans that were submitted prior to the new deadline.
“PIA is pleased Congress acted so the Paycheck Protection Program does not expire prematurely, and businesses get the aid they need during these difficult economic times,” said Jon Gentile, vice president of government relations for PIA. “If necessary, we will encourage future PPP extensions.”
Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance but specialize in coverage of automobiles, homes and businesses.