Congress or President Trump Must Fix PPP Tax Glitch

The Paycheck Protection Program has been one of the most effective government-relief programs in history. By providing $525 billion worth of forgivable loans to 5 million American small businesses, the PPP saved more than 50 million jobs nationwide. Today’s encouraging jobs numbers demonstrate once again the vital role that this program has played.

A thorn has emerged on the rose, however: PPP loans, forgiveness for which began last month, carry significant tax implications that dampen their effectiveness.