A new COVID-19 economic relief package has been cobbled together in the U.S. Senate and is headed to the U.S. House of Representatives. The $484 billion measure contains $380 billion to replenish small business loans implemented in the last relief bill - $321 billion of which is earmarked for the Paycheck Protection Program (PPP) which ran out of funds last week and nearly $60 billion in loans and grants for the Economic Injury Disaster Loan program. In addition, it includes $75 billion in aid to hospitals and $25 billion for testing. The U.S. House is expected to pass the bill on Thursday after which it will immediately be sent to the President for his signature. The Senate and House have been passing these relief measures by consent (without having to call the Members to the Chambers) but the House is calling as many Members back to Washington as possible for the Thursday vote. Congress was otherwise not expected to actually reconvene on Capitol Hill until May 4 at the earliest. Passage of any other relief measures by consent is deemed highly unlikely.
ARA will closely monitor and communicate passage and guidance on this measure for ARA members that were not yet able to get relief.