Washington – President Donald trump He plans to sign the bill that allocates $ 484 billion to stimulate the economy today at noon, with new emergency aid for small businesses, hospitals and launching a strategy for coronavirus screening.
The legislation was approved yesterday in the House of Representatives, with 388 votes in favor and five against. On Tuesday it had been ratified, by mutual consent, in the Senate.
Trump will sign the bill into law as the number of unemployed in the past five weeks increased to 26 million and economists warn that the recovery in the economy may seem more like a W than a V, due to the probability of a new one. Coronavirus outbreak in fall or December.
The bill distributes assistance to small businesses ($ 370 billion), hospitals and healthcare providers ($ 75 billion, largely depending on the crisis in each jurisdiction) and mandates the creation of a strategy “to research, develop, validate, manufacture, buy, manage and expand capacity for COVID-19 testing. ”
The legislation allocates another $ 310 billion to the payroll protection program (PPP), for which 2,856 companies in Puerto Rico applied for loans valued at $ 757 million until the first $ 349 billion included in the Cares economic stimulus law was exhausted.
Another $ 60 billion goes to disaster loan programs.
Of the $ 310 billion in the PPP program, Democrats have managed to get $ 60 billion preserved for small business loans in disadvantaged communities, minorities, veterans and farmers, and that they can claim at community banks and cooperatives.