“Government checks did their work, as both income and spending increased dramatically in January."
PPP borrowers will also be able to deduct expenses paid for with their loans, reversing an earlier IRS decision.
More than 100 executives said small businesses need "much more significant and sustained support" than the PPP to weather the COVID-19 pandemic.
The bill, which includes payroll assistance and aid to state and local governments, faces a chilly reception in the Senate.
