(Washington, D.C.) The U.S. House approved another $484 billion of coronavirus relief on Thursday, with the biggest chunk of the money targeted for a small business program that ran out of funds last week.
With many members wearing masks and voting in small groups, the bill was approved 388 to 5. All five Oklahoma members of the House voted for the legislation.
President Donald Trump said he would likely sign the bill Thursday night.
“This bill is a bipartisan compromise that will deliver critical resources for Oklahoma’s small businesses, hospitals and health care workers as they face the COVID-19 crisis,” said Rep. Kendra Horn, D-Oklahoma City.
“We still have work to do, but this was an important step forward. We must make changes to PPP to ensure that nonprofits, tribal entities, and other small businesses that were excluded get the help they need.”
The Senate approved the bill last week by unanimous consent, a procedure that allowed passage with most senators staying in their home states. Both Oklahoma senators praised the bill.
According to the Congressional Budget Office, the relief bill adds $321 billion to the Paycheck Protection Program, created last month to help employers with 500 or fewer workers keep people on their payrolls. For businesses meeting the program’s guidelines, the money doesn’t have to be paid back.
According to the Small Business Administration, more than 35,500 Oklahoma businesses borrowed about $4.6 billion before the original $349 billion was depleted.
