On Tuesday, President Joe Biden signed the Paycheck Protection Program (PPP) Extension Act of 2021, turning it into law.
The Trump administration had created the Paycheck Protection Program last year. It served as a way to help small businesses survive during the lockdowns caused by COVID-19.
Under the program, small business owners can apply for a PPP loan until May 31.
Additionally, CBS News reports that the law “extends authorization of loans to June 30 to give the Small Business Administration additional time to process applications.”
Before signing the bill, Biden took a few minutes to explain why he signed the PPP Extension Act into law. He also thanked the Senators for getting the bill through Congress, calling it a “bipartisan accomplishment.”
As soon as he finished signing the bill, reporters tried to ask him questions, but his handlers wouldn’t let them. His handlers…can repeatedly be heard in the background thanking the reporters, trying to get them to leave as Biden just sat through it all.
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