• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Saturday, May 10, 2025
The Iowa Torch
  • Home
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion
No Result
View All Result
  • Home
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion
The Iowa Torch
The Iowa Torch
No Result
View All Result
Home Federal Government

Hinson Introduces Paycheck Protection Program Equity Act, Axne Joins Effort

The legislation ensures farmers, ranchers, and self-employed small businesses can receive their full Paycheck Protection Program forgivable loan amount.

Iowa TorchbyIowa Torch
April 20, 2021
in Federal Government
Reading Time: 2 mins read
Hinson Introduces Paycheck Protection Program Equity Act, Axne Joins Effort

From Left: U.S. Reps. Ashley Hinson, R-IA 01, and Cindy Axne, D-IA 03.

DES MOINES, Iowa – U.S. Rep. Ashley Hinson, R-Iowa, introduced the Paycheck Protection Program (PPP) Equity Act last week along with U.S. Rep. Abigail Spanberger, D-Va. The bill ensures farmers, ranchers, and self-employed small businesses can receive their full PPP forgivable loan amount.

RELATED POSTS

EPA issues emergency fuel waiver for E15 sales

Grassley says feds are ‘dragging feet’ on bolstering cybersecurity defense

Sarah’s Law passes House Judiciary Committee

On Tuesday, U.S. Rep. Cindy Axne, D-Iowa, signed on as a co-sponsor.

Previous modifications made by Congress and the Small Business Administration to the PPP program allowed farmers, ranchers, and certain small businesses to recalculate their loans based on gross income rather than net profits. However, those modifications had limitations on retroactivity. During a press call on Friday, Hinson said the PPP Equity Act would fix this disparity, allowing these groups to retroactively recalculate to receive the full loan amount available, regardless of their previous loan status.

ADVERTISEMENT

“I have heard from many Iowa small businesses and farmers who have been unable to get their full PPP loans due to a bureaucratic oversight. This bipartisan solution will ensure that Iowans have the resources they need to persevere through this pandemic,” Hinson said in a released statement on Friday.

Axne said she would not just co-sponsor but advocate for the bipartisan legislation in the U.S. House of Representatives with a slim Democratic majority.

“I’m proud of the changes we’ve made over the last few months to help our farmers, ranchers, and self-employed individuals benefit from PPP loans, which have kept many businesses afloat during this last year. However, too many of them have been unable to get the full amount they’re eligible for simply because they applied too early or already had their loan forgiven,” she said in a released statement. “This bipartisan, commonsense legislation will give farmers, ranchers, and self-employed individuals access to the full PPP funds to which they are entitled.”

The National Federation of Independent Businesses has endorsed the legislation.

Tags: 117th CongressAshley HinsonCindy AxneCOVID-19 ReliefPaycheck Protection ProgramU.S. House of Representatives
ShareTweetShare
ADVERTISEMENT
Previous Post

Iowa Announces $11.5 Million in Education-Related Grants, $246.3 Million in Capital Investments

Next Post

Address Confidentiality for Sexual Assault Survivors in Iowa

Iowa Torch

Iowa Torch

The Iowa Torch​ is a for-profit, news organization that focuses on political news as it relates to Iowans.

Related Posts

Hinson: Use biofuels to bring down the cost of gas today
Federal Government

EPA issues emergency fuel waiver for E15 sales

April 19, 2024
Opinion

Feenstra: There’s no such thing as ‘canceling’ student loan debt

April 17, 2024
help wanted sign on glass
Opinion

Feenstra: Growing and Strengthening Iowa’s Workforce

April 9, 2024
Editorial: Elected Officials Should Stay Out of Private Labor Disputes
Opinion

Feenstra: The Farm Bill is a strong investment in American agriculture

April 2, 2024
the united states capitol building in washington
Federal Government

Sarah’s Law passes House Judiciary Committee

March 29, 2024
Nunn introduces bipartisan legislation to fortify rural water systems against cyber attacks
Federal Government

Nunn introduces bipartisan bill to protect against AI misinformation

March 22, 2024
Next Post
Address Confidentiality for Sexual Assault Survivors in Iowa

Address Confidentiality for Sexual Assault Survivors in Iowa

Reynolds Appoints Two Judges to District Court Bench

Miller, Axne Applaud Guilty Verdict in Derek Chauvin Murder Trial

Recommended Articles

Ernst: This Small Business Saturday, Continue to Find Ways to #ShopLocal

Iowa ranks third in lower 48 for pandemic recovery

July 21, 2022
Iowa National Guard Personnel to Support the Presidential Inauguration

Iowa National Guard Personnel to Support the Presidential Inauguration

January 15, 2021
Reynolds Extends Regulatory Relief for COVID-19 Recovery

Reynolds Sued Over Unfulfilled Records Requests

December 22, 2021

Popular Stories

  • Three LGTBQ Books with Sexually Explicit Material Pulled from Waukee School

    Three LGTBQ Books with Sexually Explicit Material Pulled from Waukee School

    0 shares
    Share 0 Tweet 0
  • Rozenboom: Reflecting on the First Week of the 2021 Legislative Session

    0 shares
    Share 0 Tweet 0
  • Iowa Dept. of Health & Human Services fill two leadership roles

    0 shares
    Share 0 Tweet 0
  • Fauci ends taxpayer-funded experiments on dogs

    0 shares
    Share 0 Tweet 0
  • Iowa Schools Now Required to Lead Students in Pledge of Allegiance

    0 shares
    Share 0 Tweet 0
The Iowa Torch

The Iowa Torch​ is a for-profit, news organization that focuses on political news as it relates to Iowans

Categories

  • Current Events
  • Education
  • Federal Government
  • Iowa History
  • Local Government
  • News
  • Opinion
  • Politics
  • State Government

Newsletter

© 2022 The Iowa Torch, a publication of 4:15 Communications, LLC.

No Result
View All Result
  • Home
  • About Us
  • Advertise
  • Contact Us
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion

© 2022 The Iowa Torch, a publication of 4:15 Communications, LLC.