$484 BILLION RELIEF PACKAGE: Approved by Senate
On Tuesday, the Senate passed a $484 billion relief package to help small businesses and hospitals hit hard by the COVID-19 pandemic. The package will also provide funds to expand testing for the coronavirus.
The bill, which passed by a unanimous vote in the Senate, will now go to the House, which should approve it by Thursday.
The legislation includes $310 billion earmarked for the loan program that's designed to help small companies keep employees on their payrolls. The comes after the initial $350 billion Paycheck Protection Program ran out of money last week.
The bill also includes $60 billion for small lenders as part of the small business aid program, as well as $60 billion for Small Business Administration disaster assistance loans and grants. Also included is $75 billion for hospital relief and $25 billion for COVID-19 coronavirus testing.
(CNBC)