President Trump on Friday signed into law a $484 billion economic rescue package that includes billions of additional dollars for small businesses, hospitals, and testing amid the coronavirus pandemic.
The package includes more than $300 billion for a small business lending program designed to help companies avoid layoffs, $60 billion for disaster grants and loans, $75 billion for hospitals, and $25 billion for efforts to expand COVID-19 testing.
The signing came as the number of U.S. coronavirus cases tops 870,000 and the number of deaths tops 50,000. There have been more than 26 million jobless claims filed over the last five weeks as the virus wreaks havoc on the economy.
The House approved the package on Thursday on a 388-5 vote, with a handful of Republicans and Rep. Alexandria Ocasio-Cortez, New York Democrat, voting no.
Lawmakers had to vote by group, and many wore protective masks as Congress tries to adjust to a new way of life during the outbreak.
The U.S. Senate passed the package earlier this week via voice vote. Democrats had previously blocked a straight extension of funding for the “Paycheck Protection Program,” which quickly exhausted its $350 billion allocation from an earlier package.
The package came after Congress approved a $2.2 trillion economic rescue package, as well as earlier legislation to expand testing, boost some social safety net programs, and expand federal health funding.
Democrats are already saying the next round of funding needs to include direct financial assistance to states, whose budgets have been decimated by the virus.
But Republicans have cautioned that they’re not going to sign a blank check to states that might have been struggling as a result of their own policies even before the virus took hold.
