Additional Coronavirus Aid Bill Approved

Apr 24

Good morning,

We have great news for those of you who are applying for the PPP loan or have applied and didn’t get money due to the funds not being available.

The House of Representatives just passed an additional Coronavirus aid bill that was approved by the Senate on Tuesday. President Trump is expected to sign the bill immediately. The package is an extension of the CARES Act passed last month and provides more funding for those programs. This bill includes $380 billion for small businesses to infuse funds for the Paycheck Protection Program and economic disaster loans, $75 billion for hospitals and $25 billion for disease testing. 

While the bill delivers much-needed funding to the programs designed by the CARES Act, the additional aid makes no changes to the Coronavirus Relief Fund for state and local governments. Congress is committed to continuing to work on relief legislation in the coming months. After today’s vote, Congress is scheduled to return on May 4. In the meantime, the House has set up a bipartisan task force to provide suggestions on how the House could design a system that would allow members to vote by proxy or remotely. 

We are expecting more action from Congress and the Administration to address other aspects of the pandemic. Be sure to regularly check your email, our social media channels and website www.maddockinsurance.com for any updates. 

Please stay tuned for more updates and invites to our weekly webinar!

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