President Trump Signs $484 Billion Stimulus Bill

President Trump Signs $484 Billion Stimulus Bill

( – Another coronavirus stimulus bill has overwhelmingly passed the US House of Representatives in an effort to bolster the ravaged economy. After having several weeks off, The House convened on Thursday to vote on a $484 billion coronavirus relief bill. 

The measure passed by a 388-5-1 vote. Speaker of the House Nancy Pelosi (D-CA) signed the Paycheck Protection Program and Health Care Enhancement Act, which was signed by President Trump on Friday.

The stimulus bill will include:

  • $310 billion in funding for small businesses used for wages, employee benefits, and utilities
  • $75 billion for hospitals to combat COVID-19
  • $60 billion for Small Business Administration (SBA) disaster loans and grants
  • $25 billion for coronavirus testing to reopen state economies

More than 26 million Americans filed for unemployment in the past five weeks, as small businesses continue to layoff or furlough employees due to the coronavirus pandemic.

The total cost of the mandatory government shutdown, in an effort to combat this deadly virus, is now close to a whopping $3 trillion. Lawmakers fear even more will be needed to fully recover from this economic nightmare.

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