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Dear Friend,
Today, the House is set to vote on — and hopefully pass — the latest coronavirus stimulus package to ensure our small businesses and hospitals survive this pandemic. Here’s what’s inside:
- $310 billion for the Paycheck Protection Program, which will allow the SBA to continue providing forgivable loans to cover the cost of payroll and operating expenses for small businesses. This means dollars will resume flowing to our small businesses.
- $60 billion for the Small Business Administration’s economic injury disaster loans and grants, including:
- $50 billion for economic injury disaster loans (each loan can be up to $2 million with interest rates not to exceed 4% and long-term repayment periods of up to 30 years)
- $10 billion for grants of up to $10,000 (that do not have to be repaid)
- $75 billion to support our frontline health care workers, including additional funding to reimburse hospitals and healthcare providers for lost revenues and expenses related to the outbreak.
- $25 billion to expand COVID-19 testing, which will speed efforts to control the outbreak, reopen our economy and get people back to work.
For more information about the coronavirus and Florida, visit my website here.
As always, follow my daily work on social media by liking my Facebook page and following me on Twitter, YouTube and Instagram and feel free to reach out to my offices in Florida or Washington, D.C. if my team or I can ever be of service.
In Service,
Michael Waltz
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