Congress Passes Fourth Coronavirus Stimulus

A fourth coronavirus stimulus package, the Paycheck Protection Program and Health Care Enhancement Act, was passed by Congress on April 23, 2020, and signed by the President on April 24. The $484 billion relief package replenishes a small-business loan program and provides aid to hospitals and health-care providers and funds for coronavirus testing. The measure provides $310 billion in new funding to replenish the Paycheck Protection Program, which was created under the CARES Act and ran out of funding last week. The measure also includes $60 billion for small business emergency loans and grants; $75 billion to reimburse hospitals and health care providers for health care related expenses; and $25 billion to support efforts to increase COVID-19 testing. The package does not include relief for state and local governments dealing with the outbreak, a measure championed by Democratic lawmakers. Senate Majority Leader Mitch McConnell (R-KY) indicated that any future stimulus would likely not be approved until lawmakers return to Washington in May. “My view is we have gone so far on the national debt here that the next time we address this issue, the Senate should be back in session, fully up and running, with everybody involved in the discussion,” he said. President Trump has indicated that he would like to see fiscal relief for state and local governments, funding for infrastructure investments, and a payroll tax cut in the next relief package. House Democrats hav...
Source: Public Policy Reports - Category: Biology Authors: Source Type: news