Congress has reached a $484 billion deal to replenish halted coronavirus small business loan program, Senate leader Mitch McConnell says
WASHINGTON – The White House and congressional leaders reached a deal Tuesday to revive a stimulus program geared to keep small businesses from shuttering and their employees from going on unemployment because of the economic impacts of the coronavirus pandemic.
The deal also includes $75 billion to help overwhelmed hospitals and $25 billion for coronavirus testing, two provisions Democrats pushed for in negotiations. Congressional Republicans blamed Democrats for the funding lapse, arguing they were holding hostage money that was desperately needed for businesses and workers.
Democrats applauded the new bill, which nearly doubled in size and allowed for more funds for hospitals, testing and assurances that smaller businesses would have easier access to help.
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