U.S. Senators Michael Bennet (D-Colo.) and Todd Young (R-Ind.) announced a proposal to implement a new RESTART loan program to provide funding to jump-start the hardest-hit businesses for the remainder of 2020, provide loan forgiveness, and make enhancements to the Paycheck Protection Program.
Specifically the plan would extend the 8-week covered period to deploy PPP funds and earn loan forgiveness to 16 weeks after the loan is disbursed for the hardest-hit businesses that have seen revenues decline by at least 25%; and propose a new RESTART Program, to provide funding to cover the next 6 months of payroll, benefits, and fixed operating expenses for businesses that have taken a substantial revenue hit during the COVID-19 pandemic.
You may view more about this proposal here.