COVID-19: White House passes $480 billion package to deliver aid to small businesses

Amid coronavirus pandemic, White House on Friday has passed a $480 billion funding bill aimed at tiding over small businesses during COVID-19 crisis. It w hes to President Donald Trump’s desk, where he’s expected to sign it.

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About bill

US Senate on April 21 passed a nearly half-a-trillion dollar coronavirus pandemic relief pack to protect small businesses in country from shutting down. According to reports, bill was passed after more than a week of negotiations between Republicans and Democrats in US Congress. funding is government's latest cash infusion to prop up ecomy as it h earlier approved ar $450 billion pack for same purpose. 

latest $480 billion relief pack is aimed at saving small businesses from shutting down, to expand coronavirus testing and for hospitals fighting disease. As per reports, $320 billion will go towards small businesses, $75 billion for hospitals and $25 billion for expansion of testing in country. An ditional $60 billion will be for disaster recovery and loan grants. Democrat Chuck Schumer praised Donald Trump and Treasury Secretary Steven Mnuchin for agreeing to include funds for testing.

US recorded 3,176 coronavirus deaths in 24 hours with total fatalities near 50,000. total number of US cases has approached over 8,80,204. 

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RE | COVID-19: US Senate Approves $480 Billion Pandemic Relief Pack