Congress passed another COVID-19 relief bill that gives nearly $500 billion for different programs during the pandemic.
Iowa’s Fourth Congressional District Representative Steve King was one 388 U.S. House members that voted in favor of the “Paycheck Protection Program and Health Care Enhancement Act” bill. The legislation allocates $310 billion of additional funding to the Small Business Administration’s Paycheck Protection Program, which gives loans to small businesses to ensure payroll remains intact. An additional $60 billion will be given to the SBA for economic injury disaster loans and grants.
The bill also includes $75 billion to reimburse hospitals and healthcare providers who have lost revenue and expenses due to the outbreak. Finally, $25 billion will be used to expand COVID-19 testing.
The bill started in the Senate and was passed by the House on Thursday.