After a contentious week of D.C. drama, the Trump administration and Congressional leaders are near an agreement on an additional $300 billion to boost a small-business loan program that has run out of money, plus additional funds for hospitals and COVID-19 testing.
In an Associated Press article, Treasury Secretary Steven Mnuchin expressed hope that a deal to replenish the Small Business Administration program could pass Congress by midweek. Nearly 1.7 million business loans had been approved before the program ran out of money on April 16.
Senate Minority Leader Chuck Schumer also believes a deal could be reached late Sunday or early Monday, but said a few issues remain. As of late Sunday afternoon, the key remaining issues reportedly involved more money for testing and more aid to state and local governments.
The entire package reportedly is $450 billion, with about $50 billion allocated for disaster loans. Although the deal is said to be evolving, about $75 billion would go to U.S. hospitals and $25 billion would be added for COVID-19 testing.
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