CHARLESTON, W.Va. — The U.S. Senate passed a coronavirus relief measure Tuesday that would refill the Paycheck Protection Program as well as set aside money for medical facilities and testing.
President Donald Trump has endorsed the $484 billion package, which the U.S. House of Representatives will consider on Thursday.
Senate leaders rejoiced about the agreement, which came after legislators from both parties failed to secure relief funding through unanimous consent two weeks ago.
“Republicans never wanted this crucial program for workers and small businesses to shut down. We tried to pass additional funding a week before it lapsed. But Democratic leaders blocked the money and spent days trying to negotiate extraneous issues that were never on the table,” Senate Majority Leader Mitch McConnell, R-Ky., said.
“I am grateful our colleagues have walked away from those demands and will finally let Congress act.”
The bill dedicates $321 billion for the small business loan program — which ran out of funding last Thursday — including $60 billion for credit unions and “community financial institutions.” An additional $60 billion would be available in the form of disaster loans and emergency grants.
Corporations received criticism after reports of receiving money under the Coronavirus Aid, Relief, and Economic Security Act intended for small businesses; the owner of Ruth’s Chris Steak House received $20 million, and executives of burger-chain Shake Shack have promised to return $10 million.
“It just obviously sends the wrong signal, and it’s unfair,” Sen. Shelley Moore Capito, R-W.Va., said on Monday’s MetroNews “Talkline.”
“We were trying to say if you were a Subway owner and you were a franchisee, then you shouldn’t get cut out. In the language, it ended up being if each one of your restaurants doesn’t have more than 500 people, you can access these dollars.”
If the latest legislation passes, hospitals and medical facilities would receive $75 billion for coronavirus response efforts, and $25 billion would be dedicated to research and testing. Of the money dedicated to testing, $11 billion would go to local and state governments.
Trump tweeted the next bill will focus on providing relief to local and state governments as well as dedicating investments in infrastructure.
House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., noted the president’s tweet in a joint statement Thursday afternoon.
“Our lives and well-being are threatened if our health care, police, fire, EMS, transportation, teachers and other vital workers do not have the support that they need, and we will hold the Administration accountable to their promise,” they said.