WASHINGTON, April 25 ― President Donald Trump yesterday signed into law a nearly half-trillion dollar relief package for the US economy in the latest bid to stave off the crushing effects of the coronavirus shutdown. The package will pump another US$483 billion (RM2.1 trillion) of government...
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease, at an Arkansas Workforce Centre April 6, 2020. — Reuters pic
Following Senate approval earlier this week, the bill was passed by the House of Representatives on Thursday as another 4.4 million US workers filed new claims for jobless benefits.Joblessness has skyrocketed as much of the nation shut down to curb the spread of the virus, which has taken more than 50,000 lives in the US since February.
PPP lending will resume Monday, according to a statement yesterday from US Treasury Secretary Steven Mnuchin and Small Business Administration chief Jovita Carranza. “We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously.”
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