The $470 billion package will, among other things, replenish the empty small business fund set up by the last coronavirus stimulus bill
Chuck Schumer was the first to announce the latest coronavirus stimulus deal. Photo: Scott Heins/Getty Images After days of tense negotiations and insults hurled back and forth, House and Senate Democratic leaders and the Trump administration have reached agreement on a $484 billion package that will, among other things, replenish the empty small business fund set up by the last coronavirus stimulus bill for companies with fewer than 500 employees to keep afloat and maintain their payrolls.
$60 billion for the Economic Injury Disaster Loan program, which reaches communities and small businesses in underserved areas; $75 billion for hospitals; [and] $25 billion to expand testing. Democrats failed to secure more money for hard-pressed state and local governments in this round of stimulus legislation, though the agreement did let states use remaining portions of the $150 billion allocated for state and local coronavirus response in the first bill to be utilized to replace lost revenues.
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