Congress passes aid package to assist healthcare providers and small businesses

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Congress passes aid package to assist healthcare providers and small businesses

Posted on April 24, 2020 by ncmgm

Today, Congress passed an economic aid package to assist healthcare providers and small businesses. The Paycheck Protection Program and Health Care Enhancement Act (H.R. 266) includes $321 billion for the recently depleted Paycheck Protection Program (PPP), $60 billion for Economic Injury Disaster Loans (EIDL) loans and grants, $75 billion for hospitals and healthcare providers, and $25 billion for COVID-19 testing. If signed into law, the Small Business Administration can once again begin accepting PPP applications. The $75 billion for healthcare providers would be in addition to the original $100 billion in relief funds allocated under the CARES Act and distributed in the future by the Department of Health and Human Services (HHS). President Trump has signaled support and is expected to sign the bill into law.