Posted on 04/24/2020 9:59:47 AM PDT by Nero Germanicus
President Trump on Friday signed legislation providing $484 billion to replenish a popular small business lending program and support hospitals and COVID-19 testing amid the coronavirus pandemic.
The measure includes an additional $310 billion in funding for the Paycheck Protection Program (PPP), $60 billion of which is reserved for community banks and small lenders; $75 billion for hospitals; $25 billion to support testing efforts; and $60 billion for emergency disaster loans and grants.
Trump signed the legislative package during an Oval Office ceremony.
The legislation came out of several days of negotiations between Treasury Secretary Steven Mnuchin and congressional Democrats. The Senate passed the bill in a voice vote on Tuesday, with the House following suit on Thursday in a 388-5-1 vote that saw lawmakers wearing masks and voting in groups after Republicans demanded a floor vote.
Trump had urged Congress to swiftly pass legislation replenishing funds for the PPP, which ran out of money last week in the absence of a deal on additional funding. Negotiators wrangled over several days to hash out a deal, reaching one Tuesday that the Senate approved hours later.
Democrats successfully pushed for more funding for hospitals and testing, but the final package did not include additional funding they sought to help states combat the novel coronavirus outbreak.
The PPP, established by the $2.2 trillion CARES Act that Trump signed into law on March 27, is designed to help small businesses hurt by the coronavirus, which has forced establishments across the country to close, leading to massive layoffs.
(Excerpt) Read more at thehill.com ...
Must be a typo. That should be trillion. ;)
My son got a $405k check from the feds to keep his business going. In fact, the guy building my garage got $60k. The whole point is to keep them from laying people off. Fortunately, business is booming for both of them. It allowed them to pay down some debt early. :)
No option to veto as House Democrats would have voted in lock-step to override.
Plus only 4 Republicans voted against the bill.
Republicans have no choice if they don’t want to get “school lunched”. Blame the American sheeple for expecting Uncle Sam to be Santa Claus.
So companies that really need it wont get it. Nice.
That will be up to the Trump Administration to make sure where the money goes.
So they both didn’t need the taxpayer funded loan?
So companies that really need it wont get it. Nice.
But this is just the way governments “help”. It always has been. When we had a daycare in our home a few decades ago we used to get free cheddar cheese from the FedGov.
I never complain beause I always see it as getting some of the money they stole from me back. :)
Shame what the American people have to go through because of this hoaxdemic
Take that, Everett Dirksen.
The Senate passed the bill in a voice vote on Tuesday, with the House following suit on Thursday in a 388-5-1 vote that saw lawmakers wearing masks and voting in groups after Republicans demanded a floor vote.
Hyper-inflation here we come!
When I had a bar/hotel/rest and great accountant back in the 70s, we had two methods of accounting requiring two sets of books.
Being a novice in accounting, I listened to the guy I was paying and never had to pay the feds a single dime, with that business.
I have paid the bastards millions in some other ventures, but not one cent more than I had to.
From 1979-1992, I was audited by the IRS every single year.
If they could have proven anything illegal, believe me, they would have, but I stayed within the law, but probably brushed the line.
When I had to pay, I did, but I never liked it
With full democrat support there must be billions in there for radical organizations.
Inflation here we come.
We’re all Keynesians now.
The Trump Administration gets to decide who gets the money.
Not one penny to honor / obey the 10th Amendment in all that.
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