The so-called 60% cliff with the PPP Flexibility Act appears to reside in the "forgiveness amount" and not the "loan amount" when reading today's press release from the SBA:
https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/joint-statement-sba-administrator-jovita-carranza-and-us-treasury-secretary-steven-t-mnuchin