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Senate Nears Deal on $370 billion for Coronavirus small business loan programs, Hospital Aid and More Testing

No funding for state and local governments

the staff of the Ridgewood blog

Ridgewood NJ, In a blow to Governor Murphy, Treasury Secretary Steven Mnuchin said earlier Sunday the White House and Congress could reach a deal today on supplemental funding for small businesses. Mnuchin said President Trump is prepared to discuss funding for state and local governments in the next bill while this package focuses on loans to small businesses and hospitals and testing.

The measure would include $300 billion to replenish the paycheck protection program, which offers low-interest forgivable loans to small businesses who keep paying their employees despite being closed, Mnuchin said Sunday on CNN’s “State of the Union.”.

Both Democrats and Mnuchin said they hoped an agreement could be completed in time for consideration by the Senate early this week. A deal would mark the latest step in sweeping government efforts to deal with the consequences of the pandemic, which has thrown millions of Americans out of work as businesses across the country closed their doors. The agreement was also expected to include $75 billion for hospitals and $25 billion to expand testing for the virus nationwide, Mnuchin said.

3 thoughts on “Senate Nears Deal on $370 billion for Coronavirus small business loan programs, Hospital Aid and More Testing

  1. Nj is in serious financial straights

  2. a lot of people are in a bubble and are about to get hammered

  3. Well then wash your hands.

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