The NPR Politics Podcast Another Half-Trillion: Senate Reaches Deal On Rescue Package
Apr 21, 2020
A massive $484 billion recovery bill is set for Senate approval, with over $320 billion earmarked for the Paycheck Protection Program. There's concern about larger businesses accessing funds meant for small enterprises. The negotiations for federal aid to state and local governments reveal challenges that could echo past economic downturns. Discussions also center on funding for hospitals and a national testing program amid the pandemic. The urgency to support businesses is underscored, alongside proposals for payroll tax cuts and infrastructure upgrades.
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Another Recovery Bill
- Congress is considering a new recovery bill totaling nearly half a trillion dollars.
- This comes less than a month after the $2 trillion CARES Act.
Paycheck Protection Program
- The Paycheck Protection Program (PPP) incentivizes small businesses to keep workers on payroll.
- Loans are forgivable if businesses retain their employees.
State and Local Funding
- Democrats wanted more funding for state and local governments in the new bill.
- Republicans resisted, and this funding will likely be addressed in a future bill.