President Donald Trump signed the nation’s fourth coronavirus stimulus package, which provides an additional $310 billion to the Paycheck Protection Program that aims to help small businesses keep their employees on the payroll.
The bill was passed by the House on Thursday, two days after being approved by the Senate.
The PPP is part of a $484 billion addition to the Coronavirus Aid, Relief and Economic Security (CARES) Act, that was passed in late March. The first round of $349 billion for interest-free or low-interest Small Business Administration Administration PPP loans ran out last week.
The new funding also includes $50 billion more for SBA Economic Injury Disaster Loans, an additional $10 billion in SBA grants, $75 billion more to fund hospitals and healthcare providers, $25 billion for state-led COVID-19 testing plans and for research, development and other testing support from the Centers for Disease Prevention Control, the National Institute of Health and other agencies.
Editor’s Note: This article has been updated from its original publish date on April 23, to report that President Donald Trump signed the bill on April 24.
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