Thursday the House passed an additional $484 billion in emergency funding to replenish small business loans and allow for additional funding for hospitals and coronavirus testing.
The $484 billion breakdown:
- $310 billion to replenish the Paycheck Protection Program
- $60 billion for a separate small business emergency loan program
- $75 billion for hospitals and health care providers
- $25 billion for coronavirus testing
President Trump is expected to sign the bill immediately when it hits his desk.
“The Treasury Department on Thursday issued guidance making it much harder for publicly traded companies to qualify for money that was supposed to go to small businesses, threatening penalties in some cases if firms don’t repay money they had already received. And the Federal Reserve announced that it would be disclosing the names of companies that receive funding from some of its assistance programs after complaints that the central bank wasn’t being transparent about where the taxpayer aid was going.”