The essential job-saving measure now heads to the House of Representatives for voting. FMTNews Congress Politics US
The new tranche includes US$320 bil in small business funding according to Senate Majority Leader Mitch McConnell.
The effort is the government’s latest massive cash infusion to prop up a collapsing economy amid struggles to contain a pandemic that has killed 43,000 Americans and left some 22 million people jobless. President Donald Trump called on Congress to swiftly send him the bill, which would refund a programme that has already helped more than 1.6 million businesses, so he can sign it into law.Late last month, with many shops and restaurants nationwide forced to shutter due to the pandemic, the government launched the PPP to provide US$350 billion in what were essentially grants as long as businesses use the funds to pay their workers.
Schumer said considerable PPP money will be reserved for minority-run small businesses and those without access to large financial institutions.
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