The bill H.R. 10542, known as the "Employee Paycheck and Small Business Protection Act", aims to modify the Federal Deposit Insurance Act and the Federal Credit Union Act. It proposes to authorize a temporary program that fully insures certain business transaction accounts...
Simple Explanation
The "Employee Paycheck and Small Business Protection Act" wants to make sure businesses' money in banks is extra safe by letting them put up to $100 million in the bank and still be covered if something bad happens, but it needs to figure out how to pay for this and get everyone to work together smoothly.