National | April 22, 2020

Senate Approves $484B Relief Package for Businesses, Hospitals

The U.S. Senate on Tuesday unanimously approved $484 billion in additional coronavirus relief for the U.S. economy and hospitals treating COVID-19 patients. The measure has been sent to the House of Representatives for final passage later this week.

The House is expected to vote on Thursday on what would be the fourth coronavirus-response law, Reuters reported. Taken together, the four measures amount to about $3 trillion in aid since last month to confront a crisis that has killed more than 45,000 Americans.

Previously, Washington provided nearly $350 billion in loans to small businesses impacted by COVID-19. The funding was quickly exhausted. The latest package includes $125 billion in funds to be directed toward “mom and pop” and minority-owned stores.

Congress already is working on a fifth coronavirus-response bill, reported Reuters. Sen. Charles Schumer said it could be “similar in size” to the $2.3-trillion economic stimulus enacted on March 27.

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).