![]() An additional $50 billion in the evolving deal would go for disaster loans.Ībout $75 billion would go to U.S. That left thousands of small businesses in limbo as they sought help. The program has been swamped by companies applying for loans and reached its appropriations limit last Thursday after approving nearly 1.7 million loans. Under the emerging deal, the government’s Paycheck Protection Program for small businesses would get roughly $300 billion, according to Mnuchin. On a conference call Sunday afternoon that included Trump, Mnuchin and Republican senators, Senate Majority Leader Mitch McConnell, R-Ky., indicated the only remaining item for discussion involved the money for testing, according to a Senate GOP leadership aide who spoke on condition of anonymity to discuss a private call. Additionally, it would bring $75 billion for hospitals and $25 billion for testing, according to those involved in the talks 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. 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, D-Md. The Senate is scheduled for a pro forma session Monday, but no vote has been set. “We still have a few more details to deal with,” he said. Senate Minority Leader Chuck Schumer, D-N.Y., said he believed a deal could be reached late Sunday or early Monday. I’m hopeful that we can get that done,” he said. “I think we’re very close to a deal today. With small-business owners reeling during a coronavirus outbreak that has shuttered much economic activity, Treasury Secretary Steven Mnuchin said earlier Sunday he was hopeful of a deal that could pass Congress quickly and get the Small Business Administration program back up by midweek. View the press briefing in the player above.Īlong with the small business boost, Trump said the negotiators were looking at “helping our hospitals,” particularly hard-hit rural health care providers.Ī deal could be announced Monday, the president said at a White House briefing. President Donald Trump said Sunday, “We’re getting close to a deal.” WASHINGTON - The Trump administration and Congress are nearing an agreement on an aid package of up to $450 billion to boost a small-business loan program that has run out of money and add funds for hospitals and COVID-19 testing.
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