Here’s a summary of some of the likely provisions of the nearly $1 trillion federal stimulus package, based on what the Wisconsin Technology Council is hearing out of Washington, D.C. The package will:

  • Extend the Paycheck Protection Program (PPP) through March 31, 2021, and add deductibility for certain PPP expenses
  • Give businesses experiencing severe revenue reductions an opportunity to apply for a second draw PPP loan
  • Simplify the forgiveness process for loans of $150,000 and less
  • Repeal the requirement of deducting an EIDL Advance from the PPP forgiveness amount
  • Include 501(c)(6) organizations
  • Provide $7 billion in broadband funding that includes nearly $2 billion to replace foreign-manufactured broadband equipment that poses national security threats; $300 million to build out rural broadband; and $250 million for telehealth
  • Provide $13 billion to support farmers and the agriculture sector
  • Provide $15 billion in funding for entertainment venues, movie theaters and museums that are experiencing significant revenue loss
  • Provide $20 billion for purchase of vaccines that will make the vaccine available at no charge for anyone who needs it, plus money for vaccine distribution and to assist states with testing

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