President Trump signs Paycheck Protection Program and Health Care Enhancement Act

President Trump Signs Paycheck Protection Program

President Trump, at the White House, signed the Paycheck Protection Program and Health Care Enhancement Act. The bill, which unanimously passed the Senate on Tuesday, provides additional coronavirus relief funding for small businesses, agriculture producers, and hospitals and health care providers. 

“More help is on the way for Missouri small businesses and the health care providers on the front lines of this pandemic,” said Blunt. “Hospitals and health care providers, especially in our rural areas, have had to significantly change the way they operate to respond to COVID-19. That has meant huge losses for hospitals, including many that were already struggling to stay open. This bill provides more resources to help ensure people have access to the care they need close to home.

“This bill also replenishes funding for the Paycheck Protection Program, which has already helped keep millions of Americans on the payrolls. I’ve heard from numerous small businesses in our state that are eager to participate in the program. We need to continue working to ensure they have the support they need to stay afloat through this public health emergency. I appreciate President Trump working with the Congress to get this bill signed into law quickly and get more relief to Missourians.”

The bill signed today includes:

  • $75 billion for reimbursement to hospitals and healthcare providers to provide resources for coronavirus related expenses and lost revenue. This funding is in addition to the $100 billion provided in the CARES Act. Missouri hospitals and healthcare providers have received $618 million in funding so far, with additional resources expected to be released soon.
  • $25 billion, of which Missouri is expected to receive at least $35 million, for necessary expenses to purchase, administer, and expand capacity for COVID-19 tests. That funding includes the $1 billion specifically for the Blunt-Alexander “shark tank” proposal at NIH.
  • $320 billion to replenish funding for the Paycheck Protection Program, which provides federally guaranteed loans to small employers to help keep employees on the payroll. Nationwide, 15 million jobs and counting have been saved so far.
  • $50 billion for the Disaster Loans Program, and an additional $10 billion for emergency Economic Injury Disaster Loan grants.