22.04.2020, 08:28
US Senate Approves nearly $ 500 Billion Economic Support Package
Source: OREANDA-NEWS
OREANDA-NEWS. The U.S. Senate voted to earmark $ 484 billion to support an economy affected by the coronavirus pandemic, the U.S. media reported.
Most of the amount - $ 320 billion - will go to replenish the lending program Paycheck Protection Program (PPP), which allows small businesses to pay salaries to employees during the crisis. About $ 60 billion of this amount will go to a lending program for small enterprises, which usually have problems with access to loans, which the Democrats previously asked, the American media writes.
Earlier, the US authorities have already allocated $ 350 billion to finance the PPP, but in April this money ran out. Another $ 60 billion will be allocated to the program of loans and grants under the program, which supports enterprises affected by natural disasters. If the law is passed, hospitals will receive $ 75 billion, and another $ 25 billion will be used to finance the testing process for coronavirus.
Most of the amount - $ 320 billion - will go to replenish the lending program Paycheck Protection Program (PPP), which allows small businesses to pay salaries to employees during the crisis. About $ 60 billion of this amount will go to a lending program for small enterprises, which usually have problems with access to loans, which the Democrats previously asked, the American media writes.
Earlier, the US authorities have already allocated $ 350 billion to finance the PPP, but in April this money ran out. Another $ 60 billion will be allocated to the program of loans and grants under the program, which supports enterprises affected by natural disasters. If the law is passed, hospitals will receive $ 75 billion, and another $ 25 billion will be used to finance the testing process for coronavirus.
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