The aid deal, which the Senate approved April 21 and the House passed April 23, includes $310 billion for the Paycheck Protection Program for small businesses. Within that pool, $60 billion is set aside for medium, small and community lenders. The bill also includes $75 billion for hospitals, $60 billion for the small-business disaster fund and $25 billion to ramp up COVID-19 testing.
The relief package is the fourth passed by Congress to combat the economic damage caused by the COVID-19 pandemic. The third relief bill, called the Coronavirus Aid, Relief and Economic Security Act, created a $100 billion emergency fund to reimburse healthcare providers for expenses or lost revenue related to the COVID-19 pandemic.
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