HR 6960
Mom-and-pop act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Mom-and-Pop Act, aims to prioritize assistance for small businesses and self-employed individuals during economic challenges. It requires the Small Business Administration (SBA) to reserve at least 25% of funds from the Paycheck Protection Program (PPP) for loans of $150,000 or less to businesses with 25 or fewer employees, sole proprietors, and self-employed individuals. The bill also establishes a similar set-aside requirement for future disaster relief loan programs. Finally, it temporarily waives certain affiliation rules to ensure these small entities can access the designated funds.
Sponsors
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Primary sponsor
Cosponsor
Lisa [D-DE-At Large] Blunt Rochester
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