Additional COVID-19 Financial Relief Approved
On April 24, President Donald J. Trump signed into law H.R. 266, the Paycheck Protection and Health Care Enhancement Act, which provides nearly $500 billion for small businesses, health care providers and expanded COVID-19 testing. Specifically, the law provides:
- An additional $310 billion to replenish the Paycheck Protection Program (PPP) to assist small businesses — including physician practices — affected by the COVID-19 pandemic. This is on top of the original $359 billion provided for the PPP in the CARES Act.
- An extra $75 billion for the Public Health and Social Services Emergency Fund to reimburse hospitals and physicians for COVID-19-related expenses and lost revenue. The new funds are in addition to the $100 billion already provided by the CARES Act.
- $25 billion to develop and expand capacity for COVID-19 tests.