US Congress approves new coronavirus economic package

US, WASHINGTON (ORDO NEWS) — The House of Representatives of the US Congress on Thursday approved another package of nearly $ 500 billion measures aimed at overcoming the consequences of the new coronavirus pandemic.

The Senate approved the bill earlier this week. In the near future, the document will be signed by US President Donald Trump.

The bill provides for the allocation of more than $ 300 billion for the program of soft loans to small businesses (Paycheck Protection Program). Companies that have encountered financial difficulties may not return the funds received in this way, provided that they are spent on salaries to employees, interest on mortgages, as well as rent and utilities.

Earlier, Congress had already allocated $ 350 billion for this program, but by mid-April the funds had been exhausted.

In addition, the bill provides for the allocation of another $ 60 billion under another program to help small businesses. It is also proposed to send $ 75 billion to hospitals and $ 25 billion for a test program to identify coronavirus.

The previous package of stimulus measures of more than $ 2 trillion was adopted at the end of March. Prior to this, lawmakers allocated $ 8.3 billion to the US administration to contain the pandemic.

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