BREAKING: House passes $484 billion coronavirus stimulus for small businesses and hospitals, sends bill to Trump
WASHINGTON – The House approved a nearly half-trillion-dollar emergency bill Thursday that provides more funds for struggling hospitals and will rescue a small business loan program that was quickly depleted by companies impacted by the coronavirus pandemic.
Democratic Rep. Alexandria Ocasio-Cortez joined four Republicans, Reps. Thomas Massie, Jody Hice, Ken Buck and Andy Biggs, in voting against the measure. Independent Rep. Justin Amash voted present. The bill provides $320 billion to revive the program, which offers loans to small businesses. Those loans can be forgiven by the government if at least 75% of the money goes to keeping employees on the payroll, basically amounting to grants for businesses.
The legislation includes $75 billion to help overwhelmed hospitals and $25 billion for a new coronavirus testing program, two provisions Democrats pushed for in negotiations. Senate Minority Leader Chuck Schumer, D-N.Y., said the testing funds was one of the last pieces agreed to and require the administration to produce a national plan on how it will increase testing across the country.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House passes $484 billion coronavirus stimulus for small businesses and hospitals, sends bill to TrumpThe $484 billion measure offers funds for the Paycheck Protection Program and sends more money to hospitals struggling because of the coronavirus.
Read more »
House Passes $484 Billion In Coronavirus Relief For Small Businesses, Hospitals And TestingThe House on Tuesday overwhelming passed legislation on Thursday that will inject hundreds of billions more into a small business loan program. The vote was 388 to 5 on the legislation, with a tota…
Read more »
House set to pass $484 billion coronavirus bill to boost small business, hospitals and testingThe coronavirus bill the House is considering would replenish a small business loan program, send aid to hospitals and fund a testing expansion.
Read more »
House to pass $484 billion coronavirus aid packageThe House is on track to pass a nearly $500 billion coronavirus rescue package later today, delivering emergency aid to small businesses and hospitals
Read more »
House gives final passage to $484 billion coronavirus relief billJUST IN: US House gives final passage to $484B coronavirus relief bill, with funding aimed at helping small businesses and hospitals, as well as $25B for increased virus testing; President Trump expected to sign.
Read more »
Senate passes $484 billion coronavirus deal after weeks of deadlockMnuchin said the intent of the small business relief program 'was not for big public companies that have access to capital.' He added, 'there's now a lot of money in the program and we look forward to all these small businesses getting access to funding'
Read more »