Senate strikes deal on $484 billion relief package for small business, hospitals, testing
Senate Republicans and Democrats reached a deal Tuesday on a $484 billion coronavirus relief package for small businesses, hospitals and testing.
The Senate could vote on legislation as soon as 4 p.m. ET on Tuesday, and will need unanimous support to pass it. The House could approve the bill as early as Thursday.
The deal would allocate $320 billion more for the Paycheck Protection Program, which provides small business loans, Senate Majority Leader Mitch McConnell said. $60 billion of that would be set aside for small institutions, according to a bill summary released by his office. Half of the $60 billion would go to lenders with assets of less than $10 billion, and half would go to those with assets between $10 billion and $50 billion.
Another roughly $60 billion would go to the Economic Injury Disaster Loan program, $10 billion of which would be in the form of …continued .
[Source: CNBC News]