Lawmakers Finalize New Relief Package

The House passed and President Trump approved a Paycheck Protection Program and Health Care Enhancement Act, which will provide additional funding for PPP, Hospitals, and Testing. The Senate is expected to vote later today.

The $484 billion relief package would replenish a depleted loan program for small businesses and provide additional money for hospitals and coronavirus testing.

President Trump tweeted earlier today:

“I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing. After I sign this Bill, we will begin discussions on the next Legislative Initiative with fiscal relief to State/Local Governments for lost revenues from COVID 19, much needed Infrastructure Investments for Bridges, Tunnels, Broadband, Tax Incentives for Restaurants, Entertainment, Sports, and Payroll Tax Cuts to increase Economic Growth.”

The legislation would increase Paycheck Protection Program funding by $310 billion, add $60 billion to a separate small business emergency grant and loan program, and assign $75 billion to hospitals and $25 billion to a newly introduced coronavirus testing program.

News Desk
Author: News Desk

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