“President Trump on Friday signed legislation providing $484 billion to replenish a popular small business lending program and support hospitals and COVID-19 testing amid the coronavirus pandemic.”
“The measure includes an additional $310 billion in funding for the Paycheck Protection Program (PPP), $60 billion of which is reserved for community banks and small lenders; $75 billion for hospitals; $25 billion to support testing efforts; and $60 billion for emergency disaster loans and grants…”
“The PPP, established by the $2.2 trillion CARES Act that Trump signed into law on March 27, is designed to help small businesses hurt by the coronavirus, which has forced establishments across the country to close, leading to massive layoffs…”
“Trump’s signing of the new legislation comes as Washington policymakers are already debating what a fourth coronavirus relief package would look like…” Read the full article here.
Source: Trump signs $484 billion coronavirus relief package – By Morgan Chalfant, April 24, 2020. The Hill.
