The Senate is closing in on a roughly $475 billion coronavirus relief package for small businesses, hospitals and testing.
Sen. Chuck Schumer said Tuesday he believes the Senate will pass an additional relief bill for small businesses later in the day.
Senate Minority Leader Chuck Schumer speaks at a press conference at Corona Plaza in Queens on April 14, 2020 in New York City.Senate Republicans and Democrats are closing in on a roughly $475 billion coronavirus relief package for small businesses, hospitals and testing, people familiar with the matter tell CNBC.
Another roughly $60 billion would go to the Economic Injury Disaster Loan program, $10 billion of which would be in the form of grants. The program, which is separate from the PPP, quickly went through the $10 billion originally allotted to it as part of the first small business plan. $310 billion total for PPP, with $250 billion unrestricted and $60 billion set aside for smaller institutions$25 billion for testing, $11 billion of which will be distributed to statesSenate Minority Leader Chuck Schumer said Tuesday morning that he believes the Senate will pass an additional relief bill for small businesses later in the day.
"Staff were up all night, writing. There's still a few more I's to dot and T's to cross, but we have a deal. And I believe we'll pass it today," Schumer said.
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