Senate Approves Legislation to Revise Rules on PPP Forgiveness

In a unanimous voice vote, the Senate on Wednesday approved thePaycheck Protection Flexibility Act, a bill designed to loosen the restrictions for PPP loan forgiveness.The Act was initially passed by the House of Representatives on May 28, 2020 with a vote of 471-1. The Senate did not make any changes to the version that was passed in the House. The bill now moves to President Trump to be signed into law.