Originally published at: ‘PHASE 3.5’: Senate Leaders Agree to Additional $500 BILLION Coronavirus Stimulus Plan | Sean Hannity
Congressional leaders reportedly reached a bipartisan agreement to unleash ‘Phase 3.5’ Coronavirus stimulus package; allocating $500 billion to help small businesses and workers impacted by the worldwide pandemic.
“Both parties in the Senate have agreed to a $500 billion coronavirus ‘Phase 3.5’ relief bill that would replenish a small business rescue program known as the Paycheck Protection Program (PPP), provide hospitals with another $75 billion and implement a nationwide virus testing program to facilitate reopening the economy, Senate Majority Leader Mitch McConnell, R-Ky., and Senate Minority Leader Sen. Chuck Schumer, D-N.Y., announced Tuesday,” reports Fox News.
“The new deal would provide more than $300 billion for the PPP, with $60 billion or so set aside — and divided equally — for smaller banks and community lenders that seek to focus on under-banked neighborhoods and rural areas. Another $60 billion would be available for a small-business loans and grants program delivered through an existing small-business disaster aid program, $10 billion of which would come in the form of direct grants,” adds Fox.
A vote is expected Tuesday evening.
This is a developing story. Check back for updates.
