Farm Bureau Asks for Additional PPP Provisions in the HEALS Act
By American Farm Bureau
Though the Senate’s Health, Economic Assistance, Liability Protection and Schools Act would help more farmers and ranchers participate in the Paycheck Protection Program, the American Farm Bureau Federation is calling for additional changes to make the PPP truly workable for those involved in agriculture.
In drafting their follow-up to the CARES Act, Senate Republicans included the Farm Bureau-backed Paycheck Protection for Producers Act, which would allow farmers and ranchers who file a Schedule F to apply for a loan based on 2019 gross receipts, rather than net profits.
Allowing farmers to apply for PPP loans based on 2019 gross receipts will significantly expand the eligibility pool, AFBF President Zippy Duvall said in a letter to Senate Majority Leader Mitch McConnell (R-Ky.), Senate Minority Leader Chuck Schumer (D-N.Y.), Senate Small Business and Entrepreneurship Committee Chairman Marco Rubio (R-Fla.) and Senate Small Business and Entrepreneurship Committee Ranking Member Ben Cardin (D-Md.).
The bill’s provisions related to streamlining the loan forgiveness process for loans under $150,000 and providing Farm Credit service institutions access to the set-aside for small financial lenders would also help farmers and ranchers.
In addition, AFBF is asking lawmakers to provide certainty that all H-2A workers in the United States qualify as employees under the PPP and that wages paid to these employees are eligible for loan forgiveness. The group asked that PPP funds used to offset costs associated with farmworker housing and transportation be eligible for forgiveness as well.