Senators Earmark $288 Billion for More Small Business Relief
A bipartisan group of senators has announced a national $908 billion COVID-19 relief "framework" that earmarks $288 billion for Paycheck Protection Program loans and other supports for small businesses.
The package "would increase unemployment benefits to help families make ends meet, give essential assistance to small businesses on the verge of closing, provide funds to the state and local governments who've led the response to this crisis and much more - including support for schools, hospitals and vaccine distribution," says Sen. Angus King of Maine.
"I am particularly pleased that this package includes funding for another round of Paycheck Protection Program forgivable loans, which has helped keep our small businesses afloat," says Sen. Susan Collins, also of Maine.
Here's a breakdown of how funds would be allocated:
|Support for small businesses (PPP, EIDL, etc.)||$288 billion|
|Additional unemployment insurance||$180 billion|
|State, local and tribal governments||$160 billion|
|Transportation (airlines/airports, buses, transit and Amtrak)||$45 billion|
|Healthcare Provider Relief Fund||$35 billion|
|Housing assistance (rental)||$25 billion|
|Vaccine development, distribution, testing and tracing||$16 billion|
|CDFI/MDI community lender support||$12 billion|
|Child care||$10 billion|
|U.S. postal service||$10 billion|
|Opioid treatment||$5 billion|
|Student loans||$4 billion|