PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in House · May 15, 2020
Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program or the More PPP Act
This bill provides additional funding for and modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill increases funding for paycheck protection loans by $560 billion, and it provides additional funding of $571 billion for paycheck protection loans through FY2021. Further, the bill sets aside $200 billion for paycheck protection loans to businesses and nonprofit organizations with 25 or fewer employees, sole proprietors, independent contractors, and self-employed individuals.
The bill also modifies eligibility for the program by (1) making publicly traded companies ineligible to participate, and (2) requiring borrowers to certify a decline in revenue of 20% or more. Further, the bill makes it unlawful for a lender to discriminate against or give preferential treatment to any eligible recipient.
The Small Business Administration must report on the demographic data, including race, gender, and ethnicity, of paycheck protection loan recipients.
People & committees
Rep. Beatty, Joyce [D-OH-3] · D–OH
Legislative record
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Referred to the House Committee on Small Business.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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Analyze H.R.6893 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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