Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #9 | Schwabe, Williamson & Wyatt PC jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
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WASHINGTON, March 2, 2021 /PRNewswire/ To ensure women-owned firms receive their fair share of federal government contracts, today, the U.S. Women s Chamber of Commerce ( http://www.uswcc.org ) calls on President Biden to sign a single Executive Order requiring small business suppliers are included in Category Management Best-In-Class (BIC) contracts.
The U.S. Women s Chamber of Commerce and its members call on President Biden to sign a Presidential Executive Order to specifically:
Recognize ALL Small Business spending as BIC Tier 3, regardless of the contract vehicle.
Add a training requirement that all agency leadership and acquisition staff must receive training on the Category Management / BIC initiative that ensures small business inclusion.
National Defense Authorization Act
On January 1, 2021, the National Defense Authorization Act (“NDAA”) for Fiscal Year (“FY”) 2021 became law (
Public Law 116-283), marking the 60th straight year of the NDAA’s passage into law. The President vetoed the bill on December 23, 2020 as was widely expected. The President had long threatened to veto the bill if it did not include a repeal of Section 230 of the Communications Decency Act, which prevents social media websites from being held liable for users’ comments. On December 28, 2020, the House voted 322-87 to override the President’s veto. The Senate followed suit and voted 81-13 to override the veto on January 1, 2021. This law contains several provisions that significantly impact government contractors, which are summarized below:
To embed, copy and paste the code into your website or blog:
On December 28, 2020, former President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the legislation (referred to herein as the Economic Aid Act) included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will: (1) accept PPP loan applications from eligible borrowers that did not receive a PPP loan under the earlier program (known as First Draw Loans ); (2) permit qualifying businesses that received a PPP loan under the earlier program to receive a second PPP loan (known as Second Draw Loans ); (3) allow existing PPP borrowers not eligible for a Second Draw Loan to spend any remaining PPP funds on permitted expenses, which include additional forgivable expenses; and (4) change PPP rules for existing PPP borrowers, new PPP borrowers, and second draw borrowers in the areas of eligibility, forgivable expenses, and loan forgiveness.
It’s good to know our member of Congress, Jim Hagedorn, is looking out for us.
Written By:
Duane Quam | ×
This past year was incredibly difficult for many Americans, including small businesses and their employees, but it’s good to know our member of Congress, Jim Hagedorn, is looking out for us.
He was recently successful in getting a vital piece of legislation, the Unlocking Opportunities for Small Business Act, into law that expands opportunities for our small businesses. By allowing small businesses access to the marketplace of the federal contracting community, federal agencies and the American people will benefit with increased efficiency and improved service.