The House on Wednesday cleared a measure that would extend the application deadline for a federal funding program aimed at helping businesses survive the economic impact of the coronavirus.
The Paycheck Protection Program was set to expire with nearly $130 billion in unspent funds. The Senate passed a bill Tuesday to extend the application deadline until Aug. 8.
The House cleared the bill Wednesday by unanimous consent following initial uncertainty over whether the measure would pass before the House adjourned for a two-week recess. Some Democrats had questions about the program that they say the Trump administration has not answered.
Majority Leader Steny Hoyer said Wednesday that Democrats want to know “whether or not that money is immediately needed and why the administration has not given us the report on how the money that was already appropriated and expended has been spent.”
The measure has already provided more than $500 billion in loans to businesses forced to close because of the coronavirus outbreak. The loans are forgivable for small businesses that keep staff on the payroll. The Paycheck Protection Program was a central component of the $2 trillion CARES Act spending measure signed into law on March 28.
“When Congress passed the CARES Act in March, we thought that small businesses would be operational by the end of June, but it is now clear that our nation’s small businesses will still need support in the weeks and months to come,” said Sen. Ben Cardin, a Maryland Democrat who authored the extension.
Democrats and Republicans are planning another coronavirus relief package.
The House passed a $3 trillion measure that isn’t likely to win consideration in the GOP-led Senate, but a bill could be introduced in the Senate in July, Republican leaders said.
That measure is likely to include more small-business relief, lawsuit liability protection, money for coronavirus treatments and vaccines, and an extension of federal unemployment insurance.
