Senate Passes $484 Billion Relief Bill – Here is What’s In It
After delays from ice cream enthusiast Nancy Pelosi, the Senate reached a deal yesterday and passed a $484 billion coronavirus relief bill last night.
This comes just weeks after a $2 trillion relief bill was passed, as it increasingly seems like everything is made up and the points don’t matter.
The question of how we’ll ever pay for any of this unfortunately necessary spending aside, here’s what’s in the bill.
As CNBC reports:
The measure injects another $310 billion into a key loan program designed to keep employees on small company payrolls. The initial $350 billion in the so-called Paycheck Protection Program, created as part of the $2 trillion rescue package passed last month, dried up last week. It is unclear how many firms have actually received the money.
The bill passed Tuesday allocates $60 billion for small lenders as part of the small business aid program. It puts another $60 billion toward Small Business Administration disaster assistance loans and grants. It includes $75 billion in hospital relief and $25 billion for coronavirus testing.
At least this time Nancy didn’t make us pass the bill before we could find out what’s in it.