(Radio Iowa) – Iowa Congresswoman Ashley Hinson is co-sponsoring legislation to make a retroactive change in the federal Paycheck Protection Program for some farmers and small business owners. The P-P-P was created last spring and quickly ran out of money. A third round of funding was approved by Congress in December. “Currently, there’s a technicality with the PPP that’s preventing some Iowa farmers and self-employed small business owners from receiving their full PPP forgiveable loan,” Hinson says.
Hinson, a Republican from Marion, and Virginia Congresswoman Abigail Spanberger, a Democrat, are co-sponsoring the bill. Hinson says a technicality had prevented some farmers and self-employed small business owners from using gross income rather than net profit to determine the size of their P-P-P loans.
“Basically it just fixes that disparity, allows the retroactivity and then allows them to recalculate to get the whole payment,” Hinson says, “regardless of what the loan status was before.” The National Federation of Independence Business has endorsed the legislation.
Everyone is encouraged to attend the meeting, either in-person, or virtually.
COVID threw a wrench in efforts to hold the event last Spring, but the Fall sale went on as scheduled. Persons planning to attend the Spring Book Sale will still need to wear a mask and practice social distancing. In 2019, 15 volunteers worked more than 200 hours getting ready for the event. They unpacked booked, arranged and alphabetized them, and ended-up selling an estimated 5,000 books/periodicals. Their efforts raised a little more than $3,100, from books sold for anywhere from 25-cents to One-dollar.
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