Senate approves $484 billion coronavirus funding package

On Tuesday, the Senate passed a $484 billion coronavirus funding package replenishing the Paycheck Protection Program (PPP) as well as providing funding for hospitals and testing. The bill now heads to the House for a vote.

In the bill, the PPP received an additional $321 billion including roughly $60 billion allocated specifically to small lenders and community banks to distribute in rural and underserved areas. One of the biggest issues that the PPP faced in the initial rollout was that many small businesses struggled to compete with larger businesses that had existing relationships with banks.

Hospitals and health care providers received $75 billion to support COVID-19 related expenses and replace lost revenues. These funds are in addition to the $100 billion provided to hospitals in the CARES Act.

The Senate allocated $11 billion for states to develop, purchase, administer, process, and analyze COVID-19 tests, as well as scale up laboratory capacity, trace contacts, and support employer testing. These activities are critical to safely and successfully lift restrictions and reopen a state’s economy.

Unfortunately, the bill does not include requested funds to aid local governments in replacing lost revenues caused by the COVID-19 pandemic. We urge you to continue contacting your members of Congress and asking them to support local government. Review and share NLC's infographic and fact sheet, and then take action.