LA hair salons, restaurants reopen. But federal program keeping workers on staff expires soon

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What happens when money from the Paycheck Protection Program runs out? Photo credit: Brett Hondow/CC 2.0, from Pixabay

Governor Gavin Newsom today announced that LA County hair salons, barbershops and dine-restaurants may reopen. To keep employees on staff, businesses have been relying on funding from the federal government’s Paycheck Protection Program. Billions of federal dollars were handed out in April, and businesses had to use the money in eight weeks. Well now it’s been about eight weeks, as Monday is June 1. What happens when that money runs out, and what is Congress doing about it?

Credits

Guest:
Shanthi Nataraj - senior economist with RAND

Host:
Madeleine Brand

Producers:
Sarah Sweeney, Michell Eloy, Rosalie Atkinson, Brian Hardzinski, Caleigh Wells, Angie Perrin