Paycheck Protection for Producers Act

House Bill 7175 - Paycheck Protection for Producers Act: Overview, Status, and Impact

Hozzl · 2022-02-08T23:15:05Z

Explore the details of House Bill 7175 Paycheck Protection for Producers Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

2/8/2022, 11:15 PM

Congressional Summary of HR 7175

Paycheck Protection for Producers Act

This bill modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by allowing certain farmers to calculate (or recalculate) their paycheck protection loan amount based on 2019 gross income.

Under current law, such farmers must calculate their paycheck protection loan amount based on net income.

Read the Full Bill

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Current Status of Bill HR 7175

Bill HR 7175 is currently in the status of Bill Introduced since June 11, 2020. Bill HR 7175 was introduced during Congress 116 and was introduced to the House on June 11, 2020. Bill HR 7175's most recent activity was Referred to the House Committee on Small Business. as of June 11, 2020

Bipartisan Support of Bill HR 7175

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7175

Primary Policy Focus

Commerce

Potential Impact Areas

- Agricultural prices, subsidies, credit

- Business expenses

- Cardiovascular and respiratory health

- Emergency medical services and trauma care

- Government lending and loan guarantees

- Infectious and parasitic diseases

- Small business

- Wages and earnings

Alternate Title(s) of Bill HR 7175

Paycheck Protection for Producers Act

To modify the calculation of the maximum loan amount for certain farmers and ranchers under the paycheck protection program of the Small Business Administration, and for other purposes.

Paycheck Protection for Producers Act