Senate blocks competing coronavirus relief plans

Senate Democrats on Thursday blocked a Republican proposal to put $250 billion into a loan program for small businesses devastated by the COVID-19 pandemic, according to The Hill.

Senate Majority Leader Mitch McConnell, R-Ky., had sought unanimous consent to approve an additional $250 billion for the Paycheck Protection Program, which provides grants and loans to small businesses, but Democrats objected.

Democrats tried to amend the GOP plan to include $150 billion for state and local governments and $100 billion for hospitals, but Republicans rejected the measure, according to the report.

The Senate adjourned until Monday, and it is unclear if Democrats and Republicans will try to reach an agreement in coming days on emergency legislation to pass, according to CNBC.

More articles on healthcare finance:

State-by-state breakdown of 354 rural hospitals at high risk of closing
$30B in hospital aid will be distributed this week, Verma says
MUSC Health lays off 900 due to COVID-19 financial strain

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