On December 21, 2020, the final version of the Consolidated Appropriations Act, 2021 (the “Act”), was passed by Congress and signed into law by President Trump on December 27, 2020. The Act includes a $900 billion economic stimulus package as a result of the continued need for coronavirus relief. The Act also includes several updates to the Paycheck Protection Program (“PPP”) enacted under the CARES Act, including expanded uses of PPP loan funds, options to select a covered period, easier forgiveness application processes, and many more. Please check out this JacksonLewis P.C. article, which outlines some of the changes under the Act. For the full text of the Act please click here.