Connect With PPD
Follow Us:
Politics

Trump Signs $484 Billion ‘Phase 3.5’ Coronavirus Relief Bill

President Donald Trump and members of the Coronavirus Task Force, along with Attorney General William Barr, hold a press conference on March 23 2020. (Photo: People’s Pundit Daily)

Washington, D.C. (PPD) — President Donald Trump signed the $484 billion “Phase 3.5” coronavirus stimulus bill on Friday, providing funding for small businesses, testing and hospitals. The U.S. Senate passed the bill Tuesday night and the the U.S. House of Representatives approved it on Thursday.

As People’s Pundit Daily (PPD) previously reported, Democrats’ attempts to leverage the crisis to obtain concessions for unrelated progressive agenda items cost the U.S. economy valuable time. The Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was stalled by Democrats’ demands to include a laundry list of last-minute, leftwing provisions.

Small businesses and their workers have been paying the price. The Paycheck Protection Program (PPP) exhausted its funding one day before the two-week mark after banks began taking applications.

As People’s Pundit Daily (PPD) also previously reported, Senate Democrats blocked an earlier attempt by Senate Republicans to replenish the PPP to the tune of $251 billion. They demanded $150 billion for states, $100 billion for hospitals and $60 billion for lenders like Community Development Financial Institutions (CDFI).

The “Phase 3.5” coronavirus stimulus bill includes $320 billion in additional funding for small businesses in the PPP, an additional $75 billion to fund hospitals and healthcare providers, and an additional $25 billion for state-led COVID-19 testing.

READ FULL STORY

SubscribeSign In
PPD Staff

People's Pundit Daily delivers reader-funded data journalism covering the latest news in politics, polls, elections, business, the economy and markets.

Share
Published by
PPD Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

3 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

3 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.