In terms of the PPP analogy, I think this is the big picture here. As we went through the pandemic, there were a variety of programs put in place to help certain subsets of the population.

Key Takeaways A third round of Paycheck Protection Program (PPP) loans was authorized by the passage of H.R. 133—Consolidated Appropriations Act, 2021 into law on Dec. 27, 2020.