A bill extending the statute of limitations for COVID loan fraud charges was signed by Biden as part of his campaign against PPP fraud.
Biden announced in March to appoint a special prosecutor to investigate fraud involving loans for COVID relief.
After the bill was passed, the President tweeted it showed that watchdogs were once again active.
Over 70,000 PPP loans worth over $4.6 billion were suspected to be fraudulent last year.
The PPP and Bank Fraud Enforcement Harmonization Act of 2022 imposes a ten-year statute of limitations on fraud in the PPP program.
SBA administrator blamed Trump and expressed her pleasure for Congress to pass the bill.
Yeezy, owned by wealthy Kanye West, was given a multimillion-dollar PPP loan.
Jeff Koons, reportedly one of the richest living artists, received $1 to $2 million in PPP loans.
According to information from SBA, Soho House chapters have gotten loans totaling up to $22 million.
After the PPP mission, Biden will soon make a key announcement regarding student loan cancellation.