Trump Backs Bill on Virus Relief, Including Small Business Funds


(Bloomberg) -- President Donald Trump said he supports a bill providing additional pandemic relief that would replenish a tapped-out small business aid program while providing money for coronavirus testing and overwhelmed hospitals.

The new package -- which could win Senate approval as soon as Tuesday afternoon -- would replenish the Paycheck Protection Program for small businesses, which was part of the $2 trillion stimulus approved late last month and ran out of money last week.

Passage would allow the government to take new applicants for the program, which provides forgivable loans to small business that keep employees on the payroll for eight weeks.

“I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing,” Trump said in a tweet on Tuesday. “After I sign this Bill, we will begin discussions on the next Legislative Initiative with fiscal relief....”

The Senate is scheduled to meet at 4 p.m. Tuesday for a pro forma session, and the measure could be approved then if text is completed and all senators agree to approve it by unanimous consent. If that happens, a House vote as soon as Thursday is expected, House Majority Leader Steny Hoyer announced early Tuesday.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.