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President Donald Trump opened Sunday’s coronavirus task force briefing by talking about the negotiations on Capitol Hill over additional funding for the Paycheck Protection Program, saying a deal could be announced Today.
The Senate is scheduled for a pro forma session today but no vote has been set. A pro forma session is just a short session usually only lasting a few minutes… so nothing final will happen today.
The House announced it could meet as soon as Wednesday for a recorded vote on the pending package, according to a schedule update from Majority Leader Steny Hoyer,.
Under the emerging deal there would be $300 billion for small-business payroll program, and $50 billion would be available for small business disaster fund. Additionally, it would bring $75 billion for hospitals and $25 billion for testing.
Under the emerging deal, the government’s Paycheck Protection Program for small businesses would get roughly $300 billion. Of course this program has been swamped by companies applying for loans. And it ran out of money last week. It’s already approved 1.7 million loans. That left thousands of small businesses in limbo as they sought help. An additional $50 billion in the evolving deal would go for disaster loans.
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