releases: https://marshall.house.gov/media/press-releases/marshall-calls-action-fix-ppp-glitch
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| https://marshall.house.gov/media/press-releases/marshall-calls-action-fix-ppp-glitch | Marshall Calls For Action to Fix PPP | 2020-12-10 | 2020 | 2020-12 | Republican | Senate | KS | Roger Marshall | M001198 | marshall.house.gov | legacy | The Paycheck Protection Program has proven to be one of the most successful provisions of the CARES Act, delivering billions of dollars in assistance to allow more than a half-million Kansans to remain on the job and help keep small businesses open across the state. The PPP was intended to provide vital tax-free assistance for certain business costs during unprecedented economic circumstances. However, in April, the Internal Revenue Service (IRS) announced guidance that contradicted Congressional intent for the program, disallowing the deduction of forgiven expenses. To make matters worse, last month the IRS released Revenue Ruling 2020-27 stating that PPP recipients who had not even received or applied for forgiveness could not deduct normal business expenses if they reasonably expected their loans to be forgiven. Without Congressional action, small businesses are estimated to pay more than $120 billion in taxes on forgivable PPP loans. At a time when many are struggling to keep their doors open each day, we cannot saddle small businesses with a massive surprise tax bill. It is for these reasons, that I joined a bi-partisan group of colleagues, led by Rep. Kevin Brady, Ranking Member of the House Committee on Ways and Means, asking House leadership to include a fix to clarify that recipients of forgivable PPP loan recipients can claim normal business expense deductions in any end-of-year legislation. Click HEREto read the full text of the letter. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |