Biden Announces Reforms to PPP Program to Prioritize Minority-Owned Businesses

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For­mer Trump senior advis­er Kevin Has­sett pro­vides insight into the next stim­u­lus pack­age and his out­look for the econ­o­my amid infla­tion concerns.The Biden admin­is­tra­tion announced Mon­day plans to deliv­er “equi­table relief” to small busi­ness­es impact­ed by the coro­n­avirus out­break, with a focus on those that may have had dif­fi­cul­ty obtain­ing for­giv­able loans and minor­i­ty-owned busi­ness­es. The White House released a state­ment say­ing that it built upon last year’s Pay­check Pro­tec­tion Pro­gram. The PPP pro­gram, which start­ed a month ago increased fund­ing to busi­ness­es with few­er than 10 employ­ees by 60% as well as rur­al busi­ness­es that have expe­ri­enced a 30% increase. …

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