Update: Senate Passes Fourth Stimulus Package
April 22, 2020—The U.S. Senate passed the fourth coronavirus relief package that will provide additional help for small businesses on Tuesday, according to CNN.
The new relief package, which is $484 billion, includes $310 billion for the Paycheck Protection Program and small business loans, $10 billion for grants under the Emergency Economic Injury Disaster Loan Program and $50 billion for disaster recovery loans, according to CNN.
The new deal will also provide $75 billion for hospitals and health care providers to address coronavirus expenses and lost revenue, with an additional $25 billion to facilitate and expand COVID-19 testing, according to the report.
The bill now heads to the House, which is expected to vote on the package Thursday.