The bill will restart the Paycheck Protection Program with another $310 billion. It also shores up funding for hospitals and coronavirus testing.
President Trump on Friday signed a $484 billion coronavirus relief bill into law following days of tense negotiations between Democratic and Republican leaders.... [+]The bill, which passed the House Thursday and the Senate on Tuesday, sets aside $310 billion for the Paycheck Protection Program, with $60 billion of that money reserved for smaller businesses without existing banking relationships.
It also provides another $75 billion for healthcare providers and $25 billion for coronavirus testing, $11 billion of which is reserved for states.Lawmakers scrambled to pass supplemental economic rescue legislation after the Paycheck Protection Program, one of the cornerstones of the $2 trillion CARES Act, exhausted its $350 billion in funding last Thursday after less than two weeks.
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