The House on Thursday passed a potential $484B emergency relief package that provides additional funds for small businesses and expand COVID-19 testing efforts amid the coronavirus pandemic. The measure brings the country’s total coronavirus pandemic response dollars to more than $2.8T and includes $310B in additional funds for the Paycheck Protection Program, $75B for hospitals and $25B for COVID-19 testing.
The package for PPP includes $60B for emergency business loans and grants and another $60B for small lenders and community banks that tend to support firms in underserved areas, including women- and minority-owned small businesses.
“We’re very pleased with the vote, 388-5, 388-5, passing under suspension and a recorded vote, ” said House Speaker Nancy Pelosi on Thursday.
The Senate on Tuesday unanimously approved the measure, which is now headed to the White House for President Donald Trump’s signature.