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Tuesday, 21 April 2020 21:00

Trump, Congress Agree on New Stimulus Package

Written by Dan McCaleb, The Center Square

President Donald Trump and congressional leaders have agreed on a new, nearly $500 billion stimulus package to help small businesses impacted by stay-at-home orders in response to the COVID-19 pandemic.

The $484 billion deal includes $310 billion for the Paycheck Protection Program so businesses can continue paying employees.

 

It also includes an additional $60 billion for a small business emergency grant and loan program, $75 billion for hospitals and $25 billion for a new coronavirus testing program.

 

“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," Trump wrote on Twitter on April 21.

 

“We have a deal, and I believe we will pass it today,” Senate Minority Leader Chuck Schumer told CNN.

 

The U.S. Chamber of Commerce heralded the news in a statement.

 

“We applaud congressional leaders and the administration for reaching a deal to increase desperately needed funding to support America’s small businesses during this difficult time,” said Neil Bradley, executive vice president and chief policy officer, U.S. Chamber of Commerce.

 

“Every hour of every day, small businesses across the country are being forced to make difficult decisions due to the significant revenue disruptions caused by the coronavirus."

 

We thank The Center Square for reprint permission. 

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