Senate extends Paycheck Protection Program

The surprise move by senators means the funds for small businesses will now be available until Aug. 8.
0:41 | 07/01/20

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Transcript for Senate extends Paycheck Protection Program
In other news, surprise move in the senate approving the extension of the paycheck protection program which has been a lifeline for small businesses hit so hard by the pandemic. Rebecca Jarvis has the details. Good morning, Rebecca. Reporter: Good morning. That's right. As you say this has been a lifeline for all of those businesses in America with fewer than 500 employees, more than 4.8 million of them have taken advantage of the program, but there's still $130 billion left in it and as we've reported here anecdotally, a number of minority run and FEMA led businesses have struggled to gain access to the program which was set to expire overnight. This extension will now make it available until August 8th.

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