President Trump signs $484 billion new stimulus measure
Lead Summary
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By Dan McCaleb
The Center Square
https://www.thecentersquare.com/
President Donald Trump on Friday signed the Paycheck Protection Program and Health Care Enhancement Act, freeing up new money for workers, small businesses, hospitals and additional testing.
Trump signed the measure at a ceremony in the Oval Office.
The $484 billion deal includes $320 billion for the Paycheck Protection Program so businesses can continue paying employees. It also includes an additional $60 billion for a small business emergency grant and loan program, $75 billion for hospitals and $25 billion for a new coronavirus testing program. Many governors have said testing needs to be expanded to fully reopen their economies.
The House passed the bipartisan bill Thursday evening, with four Republicans and one Democrat voting against it. The Senate passed the legislation by voice vote on Tuesday.
Although the bill totals nearly half a trillion dollars, it's largely expected that another round of stimulus funding is coming. In late March, Trump signed the $2 trillion CARES Act.
Dan McCaleb is the executive editor of The Center Square. He welcomes your comments. Contact Dan at dmccaleb@thecentersquare.com.
The Center Square
https://www.thecentersquare.com/
President Donald Trump on Friday signed the Paycheck Protection Program and Health Care Enhancement Act, freeing up new money for workers, small businesses, hospitals and additional testing.
Trump signed the measure at a ceremony in the Oval Office.
The $484 billion deal includes $320 billion for the Paycheck Protection Program so businesses can continue paying employees. It also includes an additional $60 billion for a small business emergency grant and loan program, $75 billion for hospitals and $25 billion for a new coronavirus testing program. Many governors have said testing needs to be expanded to fully reopen their economies.
The House passed the bipartisan bill Thursday evening, with four Republicans and one Democrat voting against it. The Senate passed the legislation by voice vote on Tuesday.
Although the bill totals nearly half a trillion dollars, it's largely expected that another round of stimulus funding is coming. In late March, Trump signed the $2 trillion CARES Act.
Dan McCaleb is the executive editor of The Center Square. He welcomes your comments. Contact Dan at dmccaleb@thecentersquare.com.