Name: Senate passes extension of small business relief program
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Senate passes extension of small business relief program

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Speed Readssurprise bipartisanshipThe Senate on Tuesday evening passed legislation extending a program helping small businesses amid the coronavirus pandemic.The bill allows the Small Business Administration to keep approving Paycheck Protection Program loans until Aug. 8. The loans can be turned into grants. The bill, which will next head to the House, was approved by unanimous consent, just a few hours before the program was set to expire with $130 billion still unspent, So far, the Small Business Administration has approved almost 4.9 million loans, totaling $520.6 billion.The unanimous agreement was a surprise, as lawmakers had been arguing over different legislation dealing with the program. Sen. Chris Coons (D-Del.) told Politico something had to be done to extend the program, as there are "literally millions of small businesses nationwide at risk."

Speed Readssurprise bipartisanshipThe Senate on Tuesday evening passed legislation extending a program helping small businesses amid the coronavirus pandemic.The bill allows the Small Business Administration to keep approving Paycheck Protection Program loans until Aug. 8. The loans can be turned into grants. The bill, which will next head to the House, was approved by unanimous consent, just a few hours before the program was set to expire with $130 billion still unspent, So far, the Small Business Administration has approved almost 4.9 million loans, totaling $520.6 billion.The unanimous...

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Catherine Garcia

The Week is a weekly news magazine with editions in the United Kingdom and United States. The British publication was founded in 1995 and the American edition started in 2001; an Australian edition was published between 2008 and 2012. A children's edition, The Week Junior, has been published in the UK since 2015.

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Senate passes extension of small business relief program

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