PPP TIME Act

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Jun 1, 2020

Paycheck Protection Program Timeframe Modification and Extension Act or the PPP TIME Act

This bill modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

Specifically, the bill extends the program through August 15, 2020, and it allows a loan recipient to select any eight-week period within the program's duration to use their loan.

The bill also prohibits the Small Business Administration from requiring a paycheck protection loan recipient to use at least 50% of loan amounts for payroll costs.

Further, the bill defers payment of applicable employment taxes for a paycheck protection loan recipient that has had loan amounts forgiven. Currently, a taxpayer that has had loan amounts forgiven is ineligible for such deferral.

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People & committees

Who introduced it

Sen. Loeffler, Kelly [R-GA] · R–GA

Committees

Finance Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Jun 1, 2020
Read twice and referred to the Committee on Finance.
Jun 1, 2020
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Jun 1, 2020 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

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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Neutral evidence review

Objective

Analyze S.3859 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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Discuss S.3859, 116th Congress: PPP TIME Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/3859

Text version to examine: Introduced in Senate · 2020-06-01.

Official full text: https://www.congress.gov/116/bills/s3859/BILLS-116s3859is.htm

Imported record last updated by the source: 2025-01-03T03:29:28Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.3859 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.

Fairness and public impact

Progressive lens

Examine S.3859 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.3859, 116th Congress: PPP TIME Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/3859

Text version to examine: Introduced in Senate · 2020-06-01.

Official full text: https://www.congress.gov/116/bills/s3859/BILLS-116s3859is.htm

Imported record last updated by the source: 2025-01-03T03:29:28Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3859 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.3859 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.3859, 116th Congress: PPP TIME Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/3859

Text version to examine: Introduced in Senate · 2020-06-01.

Official full text: https://www.congress.gov/116/bills/s3859/BILLS-116s3859is.htm

Imported record last updated by the source: 2025-01-03T03:29:28Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3859 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.3859 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.3859, 116th Congress: PPP TIME Act

Official record: https://www.congress.gov/bill/116th-congress/senate-bill/3859

Text version to examine: Introduced in Senate · 2020-06-01.

Official full text: https://www.congress.gov/116/bills/s3859/BILLS-116s3859is.htm

Imported record last updated by the source: 2025-01-03T03:29:28Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3859 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.