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ARA Signed a Letter to Congress Leaders on PPP Loan Forgiveness

Aug 04 2020

On Aug. 4, ARA signed a letter to Speaker of the House Nancy Pelosi and Senate Majority Leader Mitch McConnell calling on Congress to reaffirm its intent to offer tax-free Paycheck Protection Program (PPP) loan forgiveness to Main Street businesses.

ARA and the more than 180 undersigned organizations say that if the IRS Notice 2020-32 remains, Section 1106(i) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which forgives PPP loans used on payroll, mortgages, etc., will be moot. 

Read the letter to learn more.