– $377 billion in small business support. Under the leadership of Pennsylvania Senator Pat Toomey, working with Virginia Senator Warner, these loans will be administered by banks and guaranteed by the Federal Government.
– $350 billion in loan forgiveness grants to small and medium-sized (500 employees or less) businesses and non-profits to maintain existing workforce and help pay for other expenses like rent, mortgage and utilities
– $10 billion for SBA emergency grants of up to $10,000 to provide immediate relief for small business operating costs – these grants are expected to be available in a short time frame.
– $17 billion for SBA to cover six months of payments for small businesses with existing SBA loans
– Additionally, The provision provides a refundable payroll tax credit for 50 percent of wages paid by employers to employees during the COVID-19 crisis. The credit is available to employers whose (1) operations were fully or partially suspended, due to a COVID-19related shut-down order, or (2) gross receipts declined by more than 50 percent when compared to the same quarter in the prior year.
– $140 billion for the U.S. Department of Health and Human Services:
– $100 billion in reimbursement to hospitals & healthcare providers to ensure they receive the support needed for COVID-19 related expenses and lost revenue.
– $16 billion for the Strategic National Stockpile to procure personal protective equipment, ventilators, and other medical supplies for federal and state response efforts.
– $11 billion for vaccine, therapeutics, diagnostics, and other medical or preparedness needs – includes at least $3.5 billion to advance construction, manufacturing, and purchase of vaccines and therapeutic delivery to the American people.
– $945.5 million for the National Institutes of Health (NIH) for vaccine, therapeutic, and diagnostic research to increase our understanding of COVID-19, including underlying risks to cardiovascular and pulmonary conditions.
– $500 billion for large corporate liquidity
– $150 billion for state and county/municipal governments
– Employee retention tax credit
– $1,200 one-time check for those making up to $75,000/year phasing out for those making up to $99,000/year and an additional $500 per child
