Congress to keep PPP loans for big hotels, restaurants
Congress is expected to pass a bill Thursday that would plow another $310 billion into the Paycheck Protection Program fund after the program burned through an initial $350 billion in less than two weeks. But the new legislation does not change a controversial part of the program that has allowed a number of larger hotel and restaurant companies to claim multiple loans through the various subsidiaries and sidestep what some lawmakers say was supposed to be a $10 million-per-company cap.