Senate approves $484 billion relief package. How much will it help small businesses?

The U.S. Senate approved another coronavirus relief package on Tuesday. If passed by the House, more than $300 billion of the money will go toward replenishing a small business loan program. Photo credit: Pixabay. 

The Republican-controlled Senate approved a $484 billion coronavirus relief package on Tuesday night. The House is expected to vote on the bill on Thursday. If passed, more than $300 billion of that money will go toward replenishing a small business loan program. The program ran out of money late last week, and has come under increasing scrutiny over who got loans and how banks handled the money. But even with more funding, the federal loan program still might not be enough to offset the deep economic damage the pandemic is causing. 

“This is just a kind of intermediate bill to kind of keep us going, and to make sure that we provide more funding for the PPP program,” says California Congressman Gil Cisneros.

Credits

Guests:
Jim Tankersley - New York Times - @jimtankersley, Gil Cisneros - Democratic Congressman representing LA, Orange and San Bernardino Counties - @GilCisnerosCA

Host:
Madeleine Brand

Producers:
Sarah Sweeney, Michell Eloy, Amy Ta, Alexandra Sif Tryggvadottir, Rosalie Atkinson, Brian Hardzinski, Angie Perrin