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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - Senate

Short Title(s) as Introduced

Reviving the Economy Sustainably Towards A Recovery in Twenty-twenty Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to establish a loan program for businesses affected by COVID-19 and to extend the loan forgiveness period for paycheck protection program loans made to the hardest hit businesses, and for other purposes.

Actions Overview (1)

Date Actions Overview
05/21/2020Introduced in Senate

All Actions (3)

Date All Actions
12/10/2020Committee on Small Business and Entrepreneurship. Hearings held.
06/03/2020Committee on Small Business and Entrepreneurship. Hearings held.
05/21/2020Read twice and referred to the Committee on Finance.
Action By: Senate

Cosponsors (59)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Young, Todd [R-IN]* 05/21/2020
Sen. King, Angus S., Jr. [I-ME] 06/30/2020
Sen. Cramer, Kevin [R-ND] 06/30/2020
Sen. Gardner, Cory [R-CO] 07/01/2020
Sen. Tester, Jon [D-MT] 07/01/2020
Sen. Reed, Jack [D-RI] 07/01/2020
Sen. Ernst, Joni [R-IA] 07/01/2020
Sen. Tillis, Thom [R-NC] 07/01/2020
Sen. Merkley, Jeff [D-OR] 07/01/2020
Sen. Blunt, Roy [R-MO] 07/01/2020
Sen. Kaine, Tim [D-VA] 07/01/2020
Sen. Feinstein, Dianne [D-CA] 07/21/2020
Sen. Peters, Gary C. [D-MI] 07/21/2020
Sen. Blackburn, Marsha [R-TN] 07/21/2020
Sen. Capito, Shelley Moore [R-WV] 07/21/2020
Sen. Daines, Steve [R-MT] 07/21/2020
Sen. Duckworth, Tammy [D-IL] 07/21/2020
Sen. Burr, Richard [R-NC] 07/22/2020
Sen. Graham, Lindsey [R-SC] 07/22/2020
Sen. Stabenow, Debbie [D-MI] 07/22/2020
Sen. Klobuchar, Amy [D-MN] 07/22/2020
Sen. Baldwin, Tammy [D-WI] 07/22/2020
Sen. Rosen, Jacky [D-NV] 07/22/2020
Sen. Roberts, Pat [R-KS] 07/22/2020
Sen. Alexander, Lamar [R-TN] 07/22/2020
Sen. Romney, Mitt [R-UT] 07/22/2020
Sen. Hyde-Smith, Cindy [R-MS] 07/23/2020
Sen. Cornyn, John [R-TX] 07/23/2020
Sen. Cortez Masto, Catherine [D-NV] 07/23/2020
Sen. Schatz, Brian [D-HI] 07/23/2020
Sen. Whitehouse, Sheldon [D-RI] 07/23/2020
Sen. Cotton, Tom [R-AR] 07/23/2020
Sen. Heinrich, Martin [D-NM] 07/23/2020
Sen. Gillibrand, Kirsten E. [D-NY] 07/23/2020
Sen. Murkowski, Lisa [R-AK] 07/23/2020
Sen. Booker, Cory A. [D-NJ] 07/23/2020
Sen. Smith, Tina [D-MN] 07/27/2020
Sen. Wicker, Roger F. [R-MS] 07/27/2020
Sen. Blumenthal, Richard [D-CT] 07/27/2020
Sen. Sullivan, Dan [R-AK] 07/27/2020
Sen. Durbin, Richard J. [D-IL] 07/28/2020
Sen. Sinema, Kyrsten [D-AZ] 07/28/2020
Sen. Casey, Robert P., Jr. [D-PA] 07/29/2020
Sen. Inhofe, James M. [R-OK] 07/30/2020
Sen. Boozman, John [R-AR] 08/03/2020
Sen. Murray, Patty [D-WA] 08/03/2020
Sen. Markey, Edward J. [D-MA] 08/04/2020
Sen. Murphy, Christopher [D-CT] 08/05/2020
Sen. Shelby, Richard C. [R-AL] 08/06/2020
Sen. Harris, Kamala D. [D-CA] 08/06/2020
Sen. Van Hollen, Chris [D-MD] 08/06/2020
Sen. Menendez, Robert [D-NJ] 08/12/2020
Sen. Leahy, Patrick J. [D-VT] 08/13/2020
Sen. Manchin, Joe, III [D-WV] 09/08/2020
Sen. Portman, Rob [R-OH] 09/10/2020
Sen. Hassan, Margaret Wood [D-NH] 09/17/2020
Sen. Perdue, David [R-GA] 11/30/2020
Sen. Warren, Elizabeth [D-MA] 12/03/2020
Sen. Moran, Jerry [R-KS] 12/11/2020

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Finance05/21/2020 Referred to
Senate Small Business and Entrepreneurship06/03/2020 Hearings by
12/10/2020 Hearings by

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Latest Summary (1)

There is one summary for S.3814. View summaries

Shown Here:
Introduced in Senate (05/21/2020)

Reviving the Economy Sustainably Towards A Recovery in Twenty-twenty Act or the RESTART Act

This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), for certain businesses, and it establishes a loan program whereby the Small Business Administration (SBA) shall guarantee loan amounts to certain businesses affected by COVID-19.

Specifically, the bill provides a paycheck protection loan recipient with 16 weeks to use such funds if the recipient has (1) less than 500 full-time employees, and (2) suffered a decline in revenues of at least 25%.

The bill also establishes a loan program whereby the SBA shall guarantee 100% of program loan amounts made to certain small businesses that have not more than 5,000 full-time employees. The terms for such loans shall include (1) a maximum duration of not more than seven years; (2) an amount that is not greater than 45% of 2019 gross receipts, up to $12 million; and (3) no payment on principal for the first two years of the loan.

A lender that is otherwise approved to make paycheck protection loans may make and approve loans established by the bill, and a recipient may use loan funds for specified allowable expenses including payroll costs, rent, utilities, and personal protective equipment.

Such loans may be forgiven up to the amount of total losses incurred by the recipient in the taxable year 2020.