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    Congress To Pass PPP Refill/Additional Spending For Hospitals, Testing

    April 23, 2020
    Congress To Pass PPP Refill/Additional Spending For Hospitals, Testing
    Image by AFGE

    The U.S. House of Representatives is schedule to vote today on the refunding of the Paycheck Protection Plan via the CARES Act. A quorum of representatives will descend on the capital to vote in person. Some 'at-risk' members will not attend the vote due to health reasons.

    It includes $320 billion to make new loans under the Paycheck Protection Program, which provides forgivable loans to small business that keep employees on the payroll for eight weeks. The bill sets aside $30 billion of the loans for banks and credit unions with $10 billion to $50 billion in assets, and another $30 billion for even smaller institutions.

    The measure includes $60 billion in loans and grants under a separate Economic Injury Disaster Loan program, and makes farms and ranches eligible for the loans. Also, there is $75 billion for hospitals, with a significant portion aimed at those in rural areas, and $25 billion for virus testing, reported Bloomberg.

    President Donald Trump is expected to immediately the bill which will allow loans to small businesses to immediately began flowing again in the program, which ran out of funds weeks ago.

    Democrats stalled the refunding in order to push Leftist agenda items.



    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
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    Sherlock Homeless

    Glad to see Speaker Pelosi is again practicing social distancing with her union buds,


    So why no mention of what Pelosi got for this bill?


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