COVID-19 Relief Package Expands Upon CARES Act Resources
News | Published: Friday, April 24, 2020 5:00 pm
Article from ACC.org
The Paycheck Protection Program and Health Care Enhancement Act (H.R. 266) has been signed by President Trump into law after it passed in the House and Senate earlier this week, providing $484 billion for small businesses, health care providers and expanded testing to address the COVID-19 emergency. The package is widely considered an extension of the $2.2 trillion CARES Act, which passed in late March.
The legislation includes $310 billion for the Small Business Administration's Paycheck Protection Program (PPP), intended to replenish the PPP funds after the initial $349 billion appropriated during last month's stimulus package was depleted. An additional $60 billion is provided for economic injury disaster loans and grants, with $50 billion going towards loans and $10 billion for grants of up to $10,000 that are not required to be repaid.
The package adds another $75 billion to the Department of Health and Human Services (HHS) Public Health and Social Services Emergency Fund to help hospitals and health care providers address expenses and lost revenues due to the outbreak. The additional funds will support eligible health care providers that include public entities, Medicare or Medicaid-enrolled providers, and nonprofit health care organizations caring for COVID-19 patients.
The bill also provides $25 billion to improve diagnostic and community COVID-19 testing, including $11 billion for states and governments to purchase tests and scale up labs, $1 billion to the Centers for Disease Control and Prevention (CDC), $1.8 billion for the National Institutes of Health (NIH), $22 million for the U.S. Food and Drug Administration (FDA), and up to $1 billion may be used to cover costs of testing for the uninsured.
ACC Advocacy staff will continue to monitor developments relating to COVID-19 efforts and provide updates on future relief packages in the coming week and months.
Grassroots advocates are encouraged to urge their member of Congress to include key Advocacy priorities in the next COVID-19 supplemental package by contacting them here.