Congressional leaders are closing in on a deal with the Trump administration that would provide more funding to the Paycheck Protection Program (PPP) and fund hospitals dealing with the coronavirus pandemic. The interim coronavirus aid bill would give an additional $310 billion to the PPP, which was created to provide forgivable loans to small businesses that were impacted by the stay at home orders put in place in states across the country. They are also discussing plans to provide an additional $75 billion for hospitals and $25 billion for COVID-19 testing.
The PPP ran out of money last week, and Congress has been deadlocked over a plan to replenish it. According to NBC News, the latest proposal would provide $250 billion directly to the program while setting aside an additional $60 billion specifically for minority-owned businesses. The Disaster Relief Loan Program will also receive $60 billion.
Even if an agreement is reached, members of Congress will have to return to Washington, D.C., to vote on the legislation. Most lawmakers returned to their home districts because of the coronavirus pandemic. House Majority Leader Steny Hoyer told lawmakers that the House could convene as early as 10 a.m. on Wednesday.
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