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ARTICLE · 19 MAY 2020

COVID-19 Policy Update - April 21, 2020

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Today, congressional Democrats and Republicans reached a $484 billion deal with the Trump Administration for "Phase 3.5" of the coronavirus response

United StatesCoronavirus (COVID-19)
G. Hunter Bates
G. Hunter Bates
Brian A. Pomper
Brian A. Pomper
James Tucker Jr.
James Tucker Jr.
M. Todd Tuten
M. Todd Tuten
Josh Teitelbaum
Josh Teitelbaum
Hans Rickhoff
Hans Rickhoff
Taylor Daly
Taylor Daly
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Congress, Administration Reach $484 Billion Deal for Phase 3.5

Today, congressional Democrats and Republicans reached a $484 billion deal with the Trump Administration for "Phase 3.5" of the coronavirus response to, in part, replenish the depleted Paycheck Protection Program (PPP). The proposal passed the Senate this afternoon and is expected to pass the House as soon as Thursday. The bill also includes priorities such as hospital funding and coronavirus testing. The deal does not, however, include aid for state and local governments. Additional provisions included in the package are outlined below. Unfortunately, lawmakers may have to revisit the issue of PPP funding sooner than anticipated as the additional funding in Phase 3.5 for the program is estimated to be fully allocated in a matter of days.

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