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Paycheck Protection for Producers Act
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
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
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
16Democrat Cosponsors
7Republican Cosponsors
9Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7175
Primary Policy Focus
CommercePotential 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
Comments
Sponsors and Cosponsors of HR 7175
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