NNA celebrates big wins: more PPP loans, allowable expenses and recognized deductions for PPP borrowers

Tonda Rush

Dec 22, 2020

National Newspaper Association today celebrated the outcome of extended negotiations by Congress this month that wrapped many of NNA’s requests into the next stimulus bill of more than $900 billion.

The deal passed tonight includes:

  • Fair recognition of the deductibility of business expenses for Paycheck Protection Program borrowers under the first CARES Act and in new loans;
  • Access to a second PPP loan for businesses that lost more than 25% of revenues in any quarter of 2020, compared to the same quarter of 2019;
  • The ability to cover printing and supply costs with loan proceeds;
  • A $10 billion appropriation for the US Postal Service to help pay for COVID-19 costs; and
  • Access to PPP loans for group newspapers with fewer than 500 employees per location.

The list touches on all of NNA’s requests to Congress in the latter half of 2020.

NNA Chair Brett Wesner, publisher of Wesner Publications, Cordell, OK, said the concerns of community newspapers had been heard on Capitol Hill, though NNA had hoped the second PPP loans would reach more businesses and to enable greater loan packages.

“It has been a very tense week for our Congressional Action Team, as we watched our issues put on the table and taken off again,” he said. “But in the end, most of our requests were included in some way. What’s more, we learn again and again that members of Congress value the contributions of our newspapers to local communities.  We take the recognition of our requests as an encouraging indication that Congress wants to see local newspapers survive and thrive as we get through this painful coronavirus disaster.”

Wesner said NNA appreciated the test of endurance that the Congressional negotiators experienced over the weekend.

“There were numerous disputes over this final package, most of which had no direct application to our newspapers. We know the members of Congress and their staffs were burning the midnight oil all weekend as we anxiously awaited news.  The promise of help to come was in tune with the spirit of the season. We look forward to the next Congress and the opportunity to discuss the importance of community newspapers to America,” he said. 

The National Newspaper Association represents 1,600 community newspapers across the United States.