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You need to know about the latest coronavirus relief bill

The Senate this week approved another bill to supplement coronavirus relief to supplement funding for a small business loan program and boost the country's medical response to the coronavirus pandemic.

The primary goal of the $ 484 billion bill, which is expected to pass the House on Thursday, is to replace the Paycheck Protection Program (PPP), an initiative that offers loans to businesses that can be forgiven if the money is used to retain employees. payroll.

The bill will add $ 210 billion to the PPC-funded SMT management team after businesses ran out of the initial $ 349 billion available for the program in less than two weeks.

The SBA has not been able to process PPP applications since the end of funding for the program, which means that another huge overdue delay could exist for the organization that could quickly set up the new money group.

Democrats have insisted on financial support for states and hospitals facing increased costs for the treatment of COVID-19 patients as the economic impact spreads from the pandemic. While Democrats have not secured funding for states, the bill includes an additional $ 75 billion for hospitals to cover treatment for coronary heart disease patients and loss of revenue from canceled electoral processes. That was less than the original $ 100 billion for hospitals facing severe financial pressure despite the overwhelming increase in patients.

23 April 2020

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