BREAKING: President Trump has signed a $484 billion bill that aids employers and hospitals under stress from the coronavirus pandemic.
“Millions of people out of work,” said House Speaker Nancy Pelosi, D-Calif. “This is really a very, very, very sad day. We come to the floor with nearly 50,000 deaths, a huge number of people impacted, and the uncertainty of it all.”
The legislation contains $100 billion demanded by Democrats for hospitals and a nationwide testing program, along with $60 billion for small banks and an alternative network of community development banks that focus on development in urban neighborhoods and rural areas ignored by many lenders. There’s also $60 billion for small-business loans and grants delivered through the Small Business Administration’s existing disaster aid program.
Pelosi and allies said the next measure will distribute more relief to individuals, extend more generous jobless benefits into the fall, provide another round of direct payments to most people and help those who are laid off afford health insurance through COBRA. Pelosi attacked McConnell for at first opposing adding any money to his original $250 billion package and saying cash-strapped states should be allowed to declare bankruptcy, a move that they currently cannot do and that would threaten a broad range of state services. McConnell’s comments provoked an outcry — including from GOP governors — and he later tempered his remarks.
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