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(US politics, employment, COVID-19)Initialism of paycheckprotectionprogram A U.S. federal government business loan program to allow businesses to continue to pay fixed costs and employees, for those business adversely impacted by COVID-19.
2021 February 23, Jeanne Sahadi, “So you got a PPP loan? Here’s what that means for your state taxes”, in CNN Business:
And Congress made that lifeline even stronger with two big tax breaks: Forgiven PPP loans will not be subject to federal income tax and small business owners may deduct business expenses paid for with their PPP money.