Senate passes $484 billion bill that would expand small business aid, boost money for hospitals
Source: Washington Post
The White House and congressional leaders reached agreement Tuesday on a $484 billion deal to replenish a small business loan program thats been overrun by demand and also boost spending for hospitals and coronavirus testing. The Senate swiftly approved the measure Tuesday afternoon and the House of Representatives is slated to consider it on Thursday. President Trump said he would sign it into law. I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing," he wrote on Twitter, adding a number of other issues hed like to address in a future round of negotiations.
The $484 billion legislation would increase funding for the Paycheck Protection Program by $310 billion, boost a separate small business emergency grant and loan program by $60 billion, and direct $75 billion to hospitals and $25 billion to a new coronavirus testing program. The new legislation would come on top of a record $2 trillion coronavirus rescue law Congress passed late last month, which created a $349 billion small business forgivable loan program aimed at keeping workers on payroll.
The White House said the small business initiative ran out of money last week amid overwhelming demand as the economy cratered and millions were laid off. The American people are counting on Congress to put aside reflexive partisanship and work across the aisle to help our nation through this pandemic, Senate Majority Leader Mitch McConnell (R-Ky.) said Tuesday. In a joint statement, House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles E. Schumer (D-N.Y.) hailed the deal.
Congressional Democrats are proud to have secured an agreement on an interim emergency funding package that has been transformed to provide real support for the lives and livelihoods of the American people, Pelosi and Schumer said. Democrats flipped this emergency package from an insufficient Republican plan that left behind hospitals and health and frontline workers and did nothing to aid the survival of the most vulnerable small businesses on Main Street."
Read more: https://www.washingtonpost.com/us-policy/2020/04/21/congress-coronavirus-small-business/
Full headline: Senate passes $484 billion bill that would expand small business aid, boost money for hospitals and testing
cloudbase
(5,486 posts)The link is behind a paywall, so I can't read it. Thanks.
RussBLib
(8,984 posts)What are we going to do about the Post Office?
It would have to hold out until January.
NonPC
(270 posts)You gotta wonder if the Dems in Congress are quietly in favor of privatization of the Post Office too -- just like the Republicans.
Nothing but crickets from them on this. Not even AOC.
Okay, let's find out how many in Congress hold stock in UPS, FedEx, and DHL. Any other companies I missed?
Or are they all just quietly anti-union?
bucolic_frolic
(42,675 posts)No oversight, no USPS are what I remember. It's just more money to fund the previous bill.
notdarkyet
(2,226 posts)C Moon
(12,188 posts)Hoyt
(54,770 posts)allows them to borrow some money from US Treasury. Not perfect, but that crisis it not here yet and I suspect Democrats just didnt see it worth the fight right now.
https://www.barrons.com/articles/the-u-s-postal-service-gets-10-billion-in-the-cares-act-it-needs-the-support-51585489596
oldsoftie
(12,410 posts)EarthFirst
(2,877 posts)A few of them probably had direct phone calls with their Senators to ensure their contributions arrive in time for campaign season.
Igel
(35,197 posts)The "business" side is mostly the means of getting it from DC to the employees.
For the most part, if you're working at a place with 500 or more employees, it'll be deemed essential.
People are saying that if you work for Franchise X of Large Corporation and have 20 coworkers, you're less worthy of getting the help if you work for Individual Storefront and have 20 coworkers. Because they don't like Large Corporation, they want to punish its workers.
Rebl2
(13,309 posts)Politicub
(12,163 posts)Reason being, the small business loan program was out of cash. It was vital to replenish it. Plus this bill puts forward money for testing. That was a goal of the Democratic Party.
The next bill will be the big negotiation for USPS, etc. because its focused on ambiguous infrastructure. It is not as urgent to get a bill out the door quickly for infrastructure, so that gives dems more leverage.
rainin
(3,010 posts)yaesu
(8,020 posts)rainin
(3,010 posts)My mom is still waiting for her check. She didn't have direct deposit
Don't know what you mean.
If you're an employee working for a company with fewer than 500 employees, this money replaces your paycheck. You don't see the difference between earned paycheck and this money. Does that include individuals? You bet.
Is there money for people regardless of employment status, like before? No. But if you were employed, you're either working or its likely your employer can get the money to keep paying you. If you're on government assistance or getting a pension, you still get that.
I've heard it claimed, but only in passing, that gig workers were somehow included in this. I can't imagine how, not without producing a huge paperwork hurricane.
rainin
(3,010 posts)GumboYaYa
(5,941 posts)We run an auction house and had to shutdown the business entirely. Today we were able to let our employees know that they were getting paid full salary for the next two months while we stay shut down. I know there are lots of problems with how and who is getting these funds, but for us and our employees they were a salvation.
yaesu
(8,020 posts)Hotler
(11,353 posts)and it will some how all disappear in about 2-3 weeks. There has been a lot of taxpayer money siphoned off in the past month or so and it hasn't all gone into repug hands. There a lot of greedy people on the left side of the isle also. Why do you think there has been little oversight and a lack of howling from our leaders about the orange one getting rid of IG's. Everyone up top has their hands in our pie.
I have no hope. I see no future.
Turin_C3PO
(13,650 posts)Your post is just bullshit both-siderism that makes gullible people think they shouldnt vote due to alleged corruption in both parties.
choie
(4,102 posts)the Democrats are in the majority in the House...it's not like they're guileless bystanders who have no power.