Coronavirus: President Trump signs extension of COVID-relief fund for businesses
US President Donald Trump on Saturday signed into law a temporary extension of a subsidy program for small businesses battered by the coronavirus.
The legislation extends the June 30 deadline for applying for the program to August 8.
Lawmakers created the program in March and have modified it twice since, adding money on one occasion and more recently permitting more flexible use of the funding despite some grumbling among GOP conservatives.
For more coronavirus news, visit our dedicated page.
About $130 billion of $660 billion approved for the program remains eligible for businesses to seek direct federal subsidies for payroll and other costs such as rent, though demand for the Paycheck Protection Program has pretty much dried up in recent weeks.
The Democratic-controlled House voted on Wednesday to approve the extension of the program after the Republican-controlled Senate did the same.
Trump had been expected to sign the measure.
For all the latest headlines follow our Google News channel online or via the app.
Also Read
-
Coronavirus could shutter over 50 percent of small businesses in US: Survey
While many states are reopening their economies in the US in hopes the worst of the coronavirus pandemic had passed, COVID-19 could shutter most ... Coronavirus -
Coronavirus: Businesses will sacrifice efficiency for resilience, warns expert
The global economy is set to radically shift as businesses move to prioritize resilience to supply shocks at the cost of efficiency due to the ... Coronavirus -
Trump tells energy, treasury secretaries to make funds available for US oil industry
US President Donald Trump has told the secretaries of energy and treasury to come up with a plan to make funds available to US oil and gas companies, ... Energy
