The $349 billion rescue loan program ran out of money on Thursday, just two weeks after it was launched to help small businesses struggling with the financial hit of the coronavirus pandemic.
The new deal will include $50 billion for disaster loans, $75 billion for hospitals and $25 billion for a federal testing program. Money for state and local governments will not be included in the package, Mnchunin said.
The $349 billion rescue loan program ran out of money on Thursday, just two weeks after it was launched. Republican and Democratic leaders have been struggling to agree on how to restore its funds as a slew of small American businesses are at risk of shutting down from the financial hit of the coronavirus pandemic.
The new deal will include $50 billion for disaster loans, $75 billion for hospitals and $25 billion for a federal testing program. Money for state and local governments will not be included in the package, Mnchunin said. Speaker of the House Nancy Pelosi talks with reporters as she arrives at the U.S. Capitol on March 27, 2020 in Washington, DC.House Speaker Nancy Pelosi said on Sunday morning that officials are "very close" to an agreement to replenish the small business fund and Senate Minority Leader Chuck Schumer said that they could strike a deal on Sunday evening or Monday morning.
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