Trump signs $484 billion new stimulus measure

By Dan McCaleb | The Center Square

President Donald Trump signs a coronavirus aid package to direct funds to small businesses, hospitals, and testing, in the Oval Office of the White House, Friday, April 24, 2020, in Washington. Sen. Roy Blunt, R-Mo., left, and Jovita Carranza, administrator of the Small Business Administration look on.

President Donald Trump on Friday signed the Paycheck Protection Program and Health Care Enhancement Act, freeing up new money for workers, small businesses, hospitals and additional testing.

Trump signed the measure at a ceremony in the Oval Office.

The $484 billion deal includes $320 billion for the Paycheck Protection Program so businesses can continue paying employees. It also includes an additional $60 billion for a small business emergency grant and loan program, $75 billion for hospitals and $25 billion for a new coronavirus testing program. Many governors have said testing needs to be expanded to fully reopen their economies.

The House passed the bipartisan bill Thursday evening, with four Republicans and one Democrat voting against it. The Senate passed the legislation by voice vote on Tuesday.

Although the bill totals nearly half a trillion dollars, it’s largely expected that another round of stimulus funding is coming. In late March, Trump signed the $2 trillion CARES Act.