WASHINGTON, DC – While members of the House are back home for district work this week, members of the Senate have been working towards another round of COVID-19 assistance. Specifically for agriculture, the Health, Economic Assistance, Liability Protection and Schools Act would help more farmers and ranchers participate in a second round of the Paycheck Protection Program (PPP).
According to the American Farm Bureau Federation (AFBF), Senate Republicans included the Paycheck Protection for Producers Act, which would allow farmers and ranchers who file a Schedule F to apply for a loan based on 2019 gross receipts, rather than net profits.
Allowing farmers to apply for PPP loans based on 2019 gross receipts, AFBF President Zippy Duvall says, will significantly expand the eligibility pool for the program.
(SOURCE: American Farm Bureau Federation)