On Thursday, April 8, 2021, at 8:30 AM CT, Rep. French Hill (AR-02), will hold a press conference to discuss his forthcoming legislation.
Rep. Hill will be joined by Jim Keet, Chairman, JTJ Restaurants, LLC., and Montine McNulty, CEO of AR Hospitality Industry.
The bill, the PPP Revenue Adjustment Calculation to Increase Capital Accessibility Long-term (or PRACTICAL Act), will make it easier and fairer for small businesses across Arkansas and America to receive critical money from the Paycheck Protection Program (PPP).
Rep Hill plans to introduce next week.
The event will be open to members of the press.
WHO: Rep. French Hill, Mr. Jim Keet, and Ms. Montine McNulty will make remarks
WHAT: Press Conference
WHEN: 8:30AM CT, Thursday, April 8, 2021
WHERE: Taziki’s Mediterranean Cafe
15000 Cantrell Rd
Little Rock, AR 72223
**note – COVID-19 guidelines will be followed. Masks and social distancing will be required**
Further inquiries can be directed to Dan Schneider who can be reached at Dan.Schneider@mail.house.gov or (202) 981-3451.
Further Background:
The PPP has been an important and necessary tool for many struggling businesses across Arkansas and America. In Arkansas, more than 14,000 businesses have received $4.6 billion and through the program have helped save more the 375,000 Arkansas jobs.
However, some small businesses are currently at a disadvantage with how the program is set up because some small businesses are currently at a disadvantage with how the program is set up because of how a business must show it's year over year revenue decrease.
The PRACTICAL Act would clarify that small businesses that are eligible for the second draw PPP can calculate their revenue based off a 90-day earning period rather than a set quarter calendar year.
Original source can be found here.
