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Senate reaches deal to extend Paycheck Protection Program hours before it was set to expire

The Senate reached a surprise last-minute deal late Tuesday to extend the small-business Paycheck Protection Program through Aug. 8, passing it just hours before the lending program was set to shut down at midnight. Prospects for the legislation in the House, however, were uncertain.

Waitress Jill Lawrence. right, waits on customers at Shakers American Cafe Monday in Orlando, Fla. Restaurants, retailers and salons are desperately trying to stay afloat as the U.S. economy reopens in fits and starts after months in a coronavirus lockdown. But billions of dollars allocated by Congress as a lifeline to those very businesses are about to be left on the table when the government's Paycheck Protection Program stops accepting applications for loans Tuesday, June 29.
Waitress Jill Lawrence. right, waits on customers at Shakers American Cafe Monday in Orlando, Fla. Restaurants, retailers and salons are desperately trying to stay afloat as the U.S. economy reopens in fits and starts after months in a coronavirus lockdown. But billions of dollars allocated by Congress as a lifeline to those very businesses are about to be left on the table when the government's Paycheck Protection Program stops accepting applications for loans Tuesday, June 29.Read moreJohn Raoux / AP
    by Jonathan O'Connell, Erica Werner, and Aaron Gregg, Washington Post
    Published