House passes additional $500 bln in Covid-19 relief

The House of Representatives has passed a bill approving the distribution of another $500 billion in coronavirus relief.

Patricia Zengerle and Susan Cornwell reported the news for Reuters:

The U.S. House of Representatives overwhelmingly approved a $484 billion coronavirus relief bill on Thursday, funding small businesses and hospitals and pushing the total spending response to the crisis to an unprecedented near $3 trillion.

The measure passed the Democratic-led House by a vote of 388-5, with one member voting present. House members were meeting for the first time in weeks because of the coronavirus pandemic.

Lawmakers, many wearing masks, approved the bill during an extended period of voting intended to allow them to remain at a distance from one another in line with public health recommendations.

The House action sent the latest of four relief bills to the White House. Republican President Donald Trump, who backs the measure, said he would probably sign it into law on Thursday evening.

CBS’ Grace Segers wrote:

The legislation, known as the Paycheck Protection Program and Health Care Enhancement Act, is the result of weeks of negotiations between congressional Democrats and the White House. The measure includes $75 billion for hospitals, $25 billion to establish a national testing regime, $60 billion in disaster aid and $310 billion for the Paycheck Protection Program (PPP), which provides loans to small businesses to help them retain workers and meet payroll. The PPP exhausted its initial $349 billion in funding last week.

The vote comes as new government data shows 4.4 million people filed initial unemployment claims last week, raising the total number of people who have lost their jobs during the pandemic to about 26 million.

Roughly $60 billion in new funds going to the PPP will be specifically targeted to financial institutions serving rural, unbanked and minority-owned businesses, a key priority for Democrats. Minority-owned businesses have been particularly affected by the pandemic, which has exacerbated preexisting structural issues that make it difficult for minority business owners to gain access to capital.

Lauren Egan from NBC News reported:

President Donald Trump is expected to sign the bill by the end of the week. At Thursday’s coronavirus task force briefing, he said he would sign it “probably tonight.”

Rep. Maxine Waters, D-Calif., said on the House floor before the vote that she was dedicating the legislation to her sister who is dying from the virus.

“I’m going to take a moment to dedicate this legislation to my dear sister who is dying in a hospital in St. Louis, Missouri, right now, infected by the coronavirus,” Waters said.

House Speaker Nancy Pelosi, D-Calif., acknowledged Waters’ revelation at a ceremony after the bill was passed.

“It is my honor to sign it. but I do so very sadly and prayerfully. Maxine learned today that her sister has been diagnosed with the virus,” she said. “It could happen to anybody at any time on the floor.”