The Senate on Tuesday evening passed legislation extending a program helping small businesses amid the coronavirus pandemic.
The bill allows the Small Business Administration to keep approving Paycheck Protection Program loans until Aug. 8. The loans can be turned into grants. The bill, which will next head to the House, was approved by unanimous consent, just a few hours before the program was set to expire with $130 billion still unspent, Politico reports. So far, the Small Business Administration has approved almost 4.9 million loans, totaling $520.6 billion.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Why au pairs might become a thing of the pastUnder The Radar Brexit and wage ruling are threatening the 'mutually beneficial arrangement'
-
'A direct, protracted war with Israel is not something Iran is equipped to fight'Instant Opinion Opinion, comment and editorials of the day
-
Today's political cartoons - April 17, 2024Cartoons Wednesday's cartoons - political anxiety, jury sorting hat, and more
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
