(Manhattan Beach, California - May 13, 2020) -- On May 12, 2020, Democrats in the House of Representatives released a proposal for the next phase of major COVID-19 relief legislation -- the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.
Following are a few notable provisions, among many:
The covered period for PPP loans would be extended to December 31, 2020;
PPP funds could be stretched over 24 weeks instead of the eight weeks originally passed in the CARES Act;
Businesses and organizations that receive PPP loans would be allowed to defer payroll tax payments;