India Post News Service
SACRAMENTO: Governor Gavin Newsom, Senate President pro Tempore Toni Atkins and Assembly Speaker Anthony Rendon today issued the following joint statement on additional support for businesses and employees grappling with the impacts of the pandemic:
“With small businesses and their employees still suffering from the consequences of COVID-19, we continue to work on measures to provide them additional relief related to federal Paycheck Protection Program (PPP) loans, as was done last year under AB 1577.
“The legislation that would conform to the federal tax treatment of these grants will be delayed temporarily while we seek detailed guidance from the U.S. Treasury Department regarding provisions in the American Rescue Plan Act signed yesterday by President Biden.
“We remain committed to an equitable and broad-based recovery and acting expeditiously to provide additional relief to businesses in the state—especially those that have been hardest hit by COVID-19, such as bars, restaurants, barbers, nail and hair salons, and performing arts venues, among others.”
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