This article originally appeared on Fox News on April 24, 2020.
President Trump just signed the fourth round of coronavirus legislation, a $484 billion relief bill that will help American small businesses and hospitals, as well as expand coronavirus testing so Americans can get back to work as soon as possible. The lion’s share of the funding, $310 billion, will go directly to the Small Business Administration’s Paycheck Protection Program (PPP), a massively popular program that has already disbursed $350 billion to businesses all over the country, and now requires a fresh infusion of cash to meet demand.
This isn’t just about protecting small businesses from potential bankruptcy, though it will certainly accomplish that. Small businesses employ nearly half the American workforce, so this legislation is also properly seen as direct relief for working families.
Millions of Americans have been holding their metaphorical breath as House Democrats delayed the latest round of relief with partisan demands for unrelated provisions such as mandating racial and gender quotas for businesses.
Congressional Republicans tried to pass a clean bill rapidly replenishing the PPP funding small businesses so desperately need. As House Speaker Nancy Pelosi, D-Calif., inexcusably delayed passage of a clean bill, both sides ultimately agreed to a package that also includes $75 billion for hospitals, $25 billion for COVID-19 testing, and $60 billion for the Economic Injury Disaster Loan Program, which provides up to $10,000 to help small businesses weather temporary revenue fluctuations — funding that Republicans never objected to in any event.
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