SMALL BUSINESS TO GET $320 BILLION IN AID
S Senators approved a $320 billion boost for the Payroll Protection Program.
They also approved $60 billion more for small business disaster loans Tuesday night.
The Health Care Enhancement Act will provide an additional $75 billion for health care providers, $60 billion for community banks and credit unions in underserved communities and $25 billion for the expansion of covid-19 testing.
It must be passed by the House and signed by President Donald Trump.
Congressman Joe Wilson of Springdale was flying back to Washington for the House vote.
About $11 billion is for testing research, manufacturing and administration to go to states.
Community health centers and rural health providers will receive $825 million of the $25 billion allocated for testing if the bill becomes law.
Sen. Lindsey Graham noted he wanted to funnel PPP funding to “main street” businesses instead of large franchises like Shake Shack which returned $10 million it received.
He said one of his primary concerns is to encourage employees to remain on payroll instead of filing for unemployment.
“This essential funding will help thousands of South Carolinians keep their jobs and their paychecks, and ensure more small businesses can continue operating,” Sen. Tim Scott echoed.
Source: Lexington County Chronicle
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