This post was updated on March 30, 2021.
With a March 31 deadline looming, the Senate voted 92-7 today to approve the PPP Extension Act. The legislation will extend the filing deadline for Paycheck Protection Program (PPP) applications by 60 days and provide an additional 30 days for the U.S. Small Business Administration to finish processing applications received by the new May 31 deadline.
The House approved the legislation on March 16 by a similar overwhelming 415-3 margin and President Biden signed the measure into law on March 30.
Prior to the House vote, NAHB and other organizations signed a coalition letter urging the House and Senate to approve the legislation.