White House & Democrats Near Deal on New Aid Package for Small Businesses

April 20, 2020
White House

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The White House and congressional Democrats neared a new $450 billion economic relief package on Sunday to replenish the small business emergency fund, the New York Times reports. The original fund ran out of money last week, leaving many small businesses without any relief funds. Treasury Secretary Steven Mnuchin outlined the deal Sunday, saying $300 was to replenish the emergency fund, and $50 billion for the Small Business Administration’s disaster relief fund. Democrats insisted on including an additional $75 billion for hospitals and $25 billion for testing, and Mnuchin said Trump approved the framework of the deal. Democratic leaders Nancy Pelosi and Chuck Schumer both said the deal was close to being done in separate interviews. Mnuchin said he hoped that the Senate could vote on the bill Monday, with the final House vote on Tuesday, although with many lawmakers scattered around the country, it's unclear if that's possible.