Time running out: Small businesses might not have much time to tap the Paycheck Protection Program, because the money is running out, despite a two-month deadline extension passed by Congress, CNBC reports. The program, which was established by the CARES Act last year, reopened in January for a second round with more than $284 billion in funding. However, as of April 5, the Small Business Administration, which oversees the program, says there is only about $68 billion left. Read the full story.
Spend or save? Americans saved less of the latest stimulus check than the first two, according to findings published Wednesday by the New York Federal Reserve, MarketWatch reports. In the first round of economic impact payments, households set aside 29% of their checks for consumption. In the second round, that fell to 26%, and in the most recent round fell to 25%. Read the full story.
Disrupted: Plans for $450 million in upgrades to New Orleans’ iconic Superdome have been disrupted because of financial troubles caused by the pandemic, the stadium’s manager told state lawmakers during a budget hearing Wednesday. The pandemic temporarily ended concerts, monster truck shows and many other events at the domed stadium and the neighboring arena. Local hotel tax collections that help fund the facilities’ management district plummeted as the virus obliterated tourist travel. Read the full story.