September 21, 2020
The death of Justice Ginsberg is setting up a very contentious period in Washington, as the Republicans push through her replacement on an expedited basis. It is not yet clear how this will affect negotiations on other matters such as COVID-19 relief legislation or a continuing resolution to keep the government open past September 30. Most of those I have spoken with believe that COVID-19 relief legislation is now a long shot for enactment before the election.
Without action, the Treasury’s stance disallowing expenses leading to forgiveness of paycheck protection program loans remains in place. There also would be no PPP expansion and no additional round of individual relief payments.
We continue to monitor developments.
Mel Schwarz is Director of Tax Legislative Affairs for Eide Bailly.
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