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Client Alert: Congress Passes Economic Relief Package, Which Awaits President’s Signature – December 23, 2020


Late On the evening of December 21, 2020, in the culmination of several months of contentious negotiations, the U.S. Congress passed the Consolidated Act of 2021 (the “Act”).  The Act, among other things, authorizes $900 billion for a new round of economic relief measures to American business, individuals and institutions.  While the President has raised concerns that he says could cause him not to sign the Act, his concerns do not seem related to the issues addressed in this Alert.  This Alert summarizes the provisions in the Act with regard to Paycheck Protection Loans and other programs available to America’s small businesses.  The Alert can be found here.