By Kim Khan
Details of the next round of federal support for U.S. small businesses emerged Tuesday.
The bill will provide $250 billion more for the Paycheck Protection Program (PPP), which is already oversubscribed, CNBC reported.
In addition, there will be $60 billion for disaster relief for the Small Business Administration, $60 billion for banks with under $50 billion in assets, $75 billion for hospitals and $25 billion for testing for Covid-19.
“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,” President Donald Trump tweeted.
“After I sign this Bill, we will begin discussions on the next Legislative Initiative with fiscal relief … to State/Local Governments for lost revenues from COVID 19, much needed Infrastructure Investments for Bridges, Tunnels, Broadband, Tax Incentives for Restaurants, Entertainment, Sports, and Payroll Tax Cuts to increase Economic Growth.”
