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Trump signs $484 billion stimulus package into law


Donald Trump

Trump signs $484 billion stimulus package into law

President Donald Trump on Friday signed a $484 billion coronavirus relief package into law. The bill passed the House on Thursday, with four Republicans and one Democrat voting against it.Lawmakers are still expected to put together a larger package to follow the CARES Act. Visit Business Insider’s homepage for more stories. President Donald Trump signed into law…

Trump signs $484 billion stimulus package into law
  • President Donald Trump on Friday signed a $484 billion coronavirus relief package into law. 
  • The bill passed the House on Thursday, with four Republicans and one Democrat voting against it.
  • Lawmakers are still expected to put together a larger package to follow the CARES Act. 
  • Visit Business Insider’s homepage for more stories.

President Donald Trump signed into law on Friday a $484 billion coronavirus relief package to provide some aid to small businesses and the healthcare system. 

The bill includes funding for the small-business-lending program that quickly ran out of money earlier this month. It also includes plans to scale up testing.

The House passed the largely bipartisan bill on Thursday, with four Republicans and one Democrat voting against it. The Senate passed the legislation by voice vote on Tuesday. 

The bill injects $320 billion into the Paycheck Protection Program, which is intended to allow small businesses to continue paying their employees. 

Read more: Here’s a detailed look at the bill’s funding for businesses, hospitals, and the public

Lawmakers are still expected to propose a follow-up to the larger Coronavirus Aid, Relief, and Economic Security Act in the coming weeks, but Democrats and Republicans have struggled to come to an agreement on what should be included.

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