Advocacy & Practice Updates — Advocacy & Practice
Congress Passes $484B in Additional Relief Funds; Replenishes PPP and EIDL, Adds Healthcare Funds
On April 23, Congress passed a $484 billion relief bill that replenishes the small business Paycheck Protection Program (PPP) and Emergency Injury Disaster Loan (EIDL) program, both of which ran out of funds last week, and provides additional direct relief to healthcare providers dealing with the impacts of the COVID-19 pandemic.
Specifically, the bill adds $310 billion to the PPP and $60 billion to the EIDL program. In terms of direct healthcare relief, there is an additional $75 billion in direct relief similar to the funding included in the CARES Act passed in late March, with a significant portion dedicated to rural providers, and $25 billion for virus testing. The bill now goes to the President for signature. ASRS will notify members when the loan programs have been re-opened.
(Published April 23, 2020)