The Paycheck Protection Small Business Forgiveness Act

Banking Committee Members Introduce Bipartisan Bill to Streamline Forgiveness of PPP Loans for Small Businesses

U.S. Senators Kevin Cramer (R-ND), Bob Menendez (D-NJ), Thom Tillis (R-NC) and Kyrsten Sinema (D-AZ), Senate Banking Committee members, today introduced the “Paycheck Protection Small Business Forgiveness Act,” bipartisan legislation to streamline forgiveness of Paycheck Protection Program (PPP) loans for small businesses.

“We can avoid the burdensome cost of superfluous bureaucracy required to arrive at the foregone conclusion of loan forgiveness by implementing a few commonsense changes,” said Senator Cramer. “The Paycheck Protection Small Business Forgiveness Act would give small businesses peace of mind by eliminating unnecessary bureaucratic requirements and simplifying the process for forgiving smaller loans. I urge my colleagues to support it and to consider including it in any future relief package.”

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