Sens. Cruz, Rubio, Capito, Tillis Introduce Loan Interest Forgiveness for Taxpayers Under a Pandemic Act
"Small businesses are the backbone of our economy, and it's important we provide job creators the tools they need to grow our way out of this crisis,"
"Small businesses across our nation have been fighting to endure the economic impacts of the coronavirus pandemic and the mandatory public health closures,"
"There is no question that small businesses in
"As hardworking North Carolinians continue to do everything they can to stay in business during this pandemic,
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"NFIB has heard from small business owner members about the need for debt relief for existing disaster assistance loans,"
The LIFT UP Act would extend the six months of debt forgiveness provided in Section 1112 of the CARES Act to small businesses that received SBA Business Physical Disaster Loans or non-COVID Economic Injury Disaster Loans.
The full text of the legislation can be read here https://cruz.senate.gov/files/documents/Bills/2020.06.29%20-%20Loan%20Interest%20Forgiveness%20for%20Taxpayers%20Under%20a%20Pandemic%20Act.pdf.
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