While still crossing the I’s and dotting the T’s, Senate Minority Leader Chuck Schumer, D-New York, says an agreement has been reached on major components of a $500 billion supplemental rescue package that will provide an extra $300 billion for small business loans, plus additional monies for hospitals and COVID-19 testing.
According to a report by the Associated Press, a Senate vote could come as early as today, and the House could convene to pass the measure later this week.
President Trump, whose administration has been negotiating with Congressional leaders, is expected to sign the bill when it reaches his desk.
The spending breakdown includes the following: $300 billion for a small-business payroll program, with approximately $60 billion set aside for community lenders that serve underbanked neighborhoods and rural areas; another $60 billion for a small-business loan and grant program that helps businesses harmed by natural disasters; $75 billion for hospitals; and $25 billion for testing.
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New rescue package offers billions for business loans, hospitals, testing
