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House approves $484 billion coronavirus stimulus package; President Donald Trump plans to quickly sign

President Trump Signs the Congressional Funding Bill for Coronavirus Response (The White House/Released)

The House of Representatives on Thursday approved a $484 billion COVID-19 stimulus package that will replenish a small business loan program that ran out of funds in two weeks.

The Senate approved the package earlier this week, after reaching a deal with the Trump administration on Tuesday. More than $300 billion will go into the Payroll Protection Program, which was depleted of its initial $350 billion after thousands of small businesses and at least 150 publicly traded companies applied for assistance.

The new deal, according to The New York Times, includes several concessions pushed by Democrats, including that the Trump administration establish a national COVID-19 testing strategy.

President Donald Trump has said he would sign the measure, which will provide $60 billion for the Small Business Administration’s disaster relief fund; $75 billion to hospitals and $25 billion for testing.

During his White House coronavirus news briefing Thursday evening, Trump said he would sign the bill “probably tonight.”

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Lawmakers note that a fourth coronavirus relief package is already in the works, with many pushing for further expansions to unemployment, more stimulus checks to individual Americans and more aid to states and municipalities.

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©2020 MassLive.com, Springfield, Mass.

Distributed by Tribune Content Agency, LLC.