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U.S. Senate extends small business coronavirus relief program to Aug. 8

globalnews.ca

U.S. coronavirus outbreak is ‘going to be very disturbing,’ Fauci warns Minority lawmakers are hardly ever successful in such attempts, but the pressure swayed Republicans controlling the Senate, who have delayed consideration of a fifth coronavirus relief bill and are preparing to go home for a two-week recess.About $130 billion remains of $660 billion approved so far for the subsidy program, which provides direct subsidies to businesses harmed by the coronavirus pandemic, which slammed the economy as consumers and workers were forced to stay at home through much of spring.The subsidies come in the form of federal loans that can be forgiven if businesses follow rules such as utilizing 60% of the loan for payroll costs.

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