The Senate on Tuesday approved a measure that will revive a coronavirus relief program geared to keep small businesses from shuttering and their employees from going on unemployment because of the economic impacts of the pandemic.
The $484 billion bill would provide more funds to the Paycheck Protection Program, which ran out of money last week. Of the nearly half-trillion dollars, $60 billion would be set aside for community-based lenders, smaller banks and credit unions to assist smaller businesses that don't have established relationships with big banks.
The legislation includes $75 billion to help overwhelmed hospitals and $25 billion for a new coronavirus testing program. If the U.S. House of Representatives passes the bill on Thursday, it will head to President Donald Trump for approval. Learn more.