A $484 billion coronavirus relief package was passed into law on Friday by President Trump to support small business owners and an economy and health care system under stress from the COVID-19 pandemic.
Small businesses will receive $370 billion in aid to keep employees on payrolls, with $75 billion to hospitals and $25 billion to testing efforts for the disease.
Senate Majority Leader Mitch McConnell in a tweet said it “strengthens some of the most important parts” of the $2 trillion rescue package passed last month, including the small business program “which is saving millions of American jobs as we speak.”
On Friday, House Speaker Nancy Pelosi said Congress would pass another bill with more relief for states and municipalities, estimating the total could be “equivalent to what we’ve done for small businesses,” or roughly $700 billion.
The National Governors Association requested $500 billion from Congress last week for states.
“There will be a bill, and it will be expensive,” Pelosi told reporters according to CNBC. “And we look forward to doing it as soon as possible because jobs are at stake, protection of our people, the health and well-being of the American people are at stake. And the sooner we get this done the better.”
For more Small Business Administration info or to apply or view the application forms go to www.sba.gov/funding.
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