News COVID-19

UPDATE: Fourth Stimulus Package Passed into Law

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April 25, 2020—On Friday, President Trump signed into law on Friday a $484 billion coronavirus relief package to provide some aid to small businesses, according to Business Insider. 

On Thursday, Congress passed the fourth stimulus package almost unanimously, according to AP News

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 CNN’s report.

For a breakdown on the latest round of funding, click here.

Stay up to date with the latest in Ratchet+Wrench's coronavirus coverage.

 

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