Paycheck Protection Program receives additional funding
President Trump signed H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act, into law last week. This $484 billion COVID-19 relief bill is the fourth COVID-19-related package passed by Congress. This bill provides an additional $310 billion in funding for the Paycheck Protection Program, $60 billion for the Small Business Administration's Economic Injury Disaster Loans (EIDL), $75 billion to hospitals and $25 billion for a new coronavirus testing program.
Lawmakers are expected to return to Washington, D.C., May 4. At that time, negotiations will begin on the next recovery package. As many policymakers have signaled, more still needs to be done to help struggling industries and our economy during the pandemic.