HR 7928
Lift up act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Loan Interest Forgiveness for Taxpayers Under a Pandemic Act of 2020, aims to provide debt relief to small businesses. It expands the eligibility for loan forgiveness under the CARES Act to include disaster loans issued before the COVID-19 pandemic, specifically those not related to the pandemic. The Small Business Administration will be required to pay off the principal, interest, and fees on these older loans for a six-month period. This legislation seeks to offer support to small businesses that relied on loans prior to the recent economic crisis.
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Primary sponsor
Cosponsor
Pete Olson
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