Another Coronavirus Relief Package Passes Senate: $484 Billion

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Another Coronavirus Relief Package Passes Senate: $484 Billion

On Tuesday, the Senate approved almost $484 billion in new Covid-19 aid for small businesses and hospitals as well as more funding for testing, ending an elaborate argument over the size and contents of the package. 

A voice vote passed the approval after lengthy negotiations between congressional Democrats and Treasury Secretary Mnuchin, the talks lasting until midnight on both Sunday and Monday. 

The deal consists of an additional $310 billion for the Paycheck Protection Program (PPP), including $60 billion specifically for community banks and smaller lenders, as well as $75 billion for hospitals, $25 billion for testing, and $60 billion for emergency disaster loans and grants, according to a summary obtained by the press.

The House is set to pass the bill on Thursday morning. Members have been returning to Washington for a recorded vote. President Trump made evident his support for the deal on Tuesday, an endorsement that could help the agreement avoid resistance from libertarian lawmakers and fiscal conservatives. 

“I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing,” Trump tweeted. 

McConnell made victory rounds on Tuesday, arguing that Democrats had dropped “a number of their unrelated demands” during the negotiations. 

“Democratic leaders blocked the money and spent days trying to negotiate extraneous issues that were never on the table. I am grateful our colleagues have walked away from those demands and will finally let Congress act,” he said in a statement. 

But Democrats have argued that hospitals, which have seen a drop in revenue as they’ve sidelined elective surgeries, and states needed additional funding. They also wanted to reform the Paycheck Protection Program to earmark funding specifically for smaller lenders. 

Senate Minority Leader Charles Schumer of New York said that McConnell tried to “steamroll” Democrats when he leader announced that he would try to clear the additional PPP fund in a matter of days. 

“The Republican leader tried to bypass the negotiations on such an interim measure. He tried to jam through a bill that would have increased funding for one small-business lending program but not others that were all running out of funding,” Schumer said on Tuesday. 

 

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