There is a concern about the complexity of the forgiveness.
Editor's note · Context
Kustoff highlights small businesses' concerns regarding PPP loan forgiveness.
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ICBA thanks Representative Kustoff for introducing this provision of the CLEARR Act in a separate bill.
If we don't do something, it will hold back the economic recovery if they continue to lay people off and if they continue to cut essential services.
I am particularly worried about Chinese investment in Silicon Valley and elsewhere with investment funds that then go around scooping up garage-size companies that end up providing technology which has commercial and military applications, which I think needs to be covered.
BIO appreciates, therefore, Congressman David Kustoff's legislation, H.R. 5054, the Small Company Disclosure Simplification Act that exempts EGCs from XBRL reporting requirements.





