US Senate passes $484 bln interim economic stimulus package

The US Senate passed $484 billion in new pandemic relief funds Tuesday to bolster a tapped-out small business aid program, pay for coronavirus testing and help hospitals deluged by sick patients.

The legislation, which the House could take up as early as Thursday, includes $320 billion for the Paycheck Protection Program designed to help struggling small businesses keep their workers on the payroll.

About $ 60 billion of this amount will go to the program for lending to small businesses. Previously, the US authorities have already allocated 350 billion us dollars to Finance RRR, but in April, this money ran out.

The package allocates another $ 60 billion to support businesses affected by natural disasters.

If the Senate passes a law, $ 75 billion will go to hospitals, and another $ 25 billion to virus testing process.

Once approved by the Senate, the economic aid package will be submitted to the House of Representatives for consideration, which is likely to adopt a new set of anti-crisis measures on April 23. After that, US President Donald Trump will sign the relevant law.