Thursday, April 23, 2020 7:21:53 PM
House passes $484 billion bill to boost small businesses and hospitals
https://www.cnbc.com/2020/04/23/coronavirus-updates-house-passes-bill-to-aid-small-business-hospitals.html
The House voted to pass a bill with $484 billion in funding for small business aid, hospital grants and coronavirus testing.
It added to the government’s unprecedented emergency spending to respond to the health and economic crisis created by the pandemic.
The measure likely will not be the last one Congress passes to respond to the outbreak.
The House passed a $484 billion package Thursday to bolster small businesses and hospitals ravaged by the coronavirus crisis and expand testing desperately needed to start the return to normal life.
Donning face coverings and voting in alphabetical sets to cut the risk of infection, representatives approved the bill easily by a 388-5-1 vote. One member, independent Rep. Justin Amash of Michigan, voted “present.” The House sends the proposal to President Donald Trump, who is set to sign it into law in the coming hours.
Before the chamber passed the plan to try to rescue a crumbling U.S. economy, it also approved a Democratic-majority select subcommittee to oversee the Trump administration’s use of a $500 billion pool of aid for corporations, states and municipalities. Congress approved those funds last month.
The bill passed Thursday includes:
$310 billion in new funds for the so-called Paycheck Protection Program, which gives small firms loans that could be forgiven if they use them on wages, benefits, rent and utilities. Within that pool, $60 billion will specifically go to small lenders, a priority Democrats pushed for after they blocked a $250 billion funding bill earlier this month.
$60 billion for Small Business Administration disaster assistance loans and grants.
$75 billion in grants to hospitals overwhelmed by a rush of Covid-19 patients.
$25 billion to bolster coronavirus testing, a core piece of any plan to restart the U.S. economy.
Four Republicans and one Democrat voted against the proposal. The lone Democrat who opposed it was Rep. Alexandria Ocasio-Cortez, who represents hard-hit areas of the Bronx and Queens. She argued the bill did not go far enough to help struggling individuals and governments.
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USO at 3.71
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https://www.cnbc.com/2020/04/23/coronavirus-updates-house-passes-bill-to-aid-small-business-hospitals.html
The House voted to pass a bill with $484 billion in funding for small business aid, hospital grants and coronavirus testing.
It added to the government’s unprecedented emergency spending to respond to the health and economic crisis created by the pandemic.
The measure likely will not be the last one Congress passes to respond to the outbreak.
The House passed a $484 billion package Thursday to bolster small businesses and hospitals ravaged by the coronavirus crisis and expand testing desperately needed to start the return to normal life.
Donning face coverings and voting in alphabetical sets to cut the risk of infection, representatives approved the bill easily by a 388-5-1 vote. One member, independent Rep. Justin Amash of Michigan, voted “present.” The House sends the proposal to President Donald Trump, who is set to sign it into law in the coming hours.
Before the chamber passed the plan to try to rescue a crumbling U.S. economy, it also approved a Democratic-majority select subcommittee to oversee the Trump administration’s use of a $500 billion pool of aid for corporations, states and municipalities. Congress approved those funds last month.
The bill passed Thursday includes:
$310 billion in new funds for the so-called Paycheck Protection Program, which gives small firms loans that could be forgiven if they use them on wages, benefits, rent and utilities. Within that pool, $60 billion will specifically go to small lenders, a priority Democrats pushed for after they blocked a $250 billion funding bill earlier this month.
$60 billion for Small Business Administration disaster assistance loans and grants.
$75 billion in grants to hospitals overwhelmed by a rush of Covid-19 patients.
$25 billion to bolster coronavirus testing, a core piece of any plan to restart the U.S. economy.
Four Republicans and one Democrat voted against the proposal. The lone Democrat who opposed it was Rep. Alexandria Ocasio-Cortez, who represents hard-hit areas of the Bronx and Queens. She argued the bill did not go far enough to help struggling individuals and governments.
USO at 3.71
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