Saturday, October 31, 2020

Senators introduce legislation to provide waiver for news publishers

 

Senators Ben Cardin (D-Maryland), Jeanne Shaheen (D-New Hampshire), Chuck Schumer (D-New York) and Chris Coons (D-Delaware) have introduced the “Heroes Small Business Lifeline Act,” which provides a Small Business Administration affiliation waiver that would allow more news publishers to apply for SBA loans under the Paycheck Protection Program created by the CARES Act in March 2020, reports the News Media Alliance. The News Media Alliance says it commends the move.

The waiver language follows that included in the updated HEROES Act passed by the House on Oct. 1, says the News Media Alliance. Both bills would allow news publishers to apply for PPP loans as individual, independent entities, despite ownership by companies with other small news publishers or non-news businesses, allowing more publishers to qualify for the loans.

Twenty-nine senators had signed on as co-sponsors by Oct. 21, says the Alliance.

News & Tech

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