U.S. Congress Passes Massive Updated Stimulus Package, Which Includes Additional Relief for Physician and Physician Practices

The U.S. Senate and House of Representatives approved the latest COVID-19 relief bill on April 21 and April 23, respectively. Known as the “Paycheck Protection Program and Health Care Enhancement Act” (COVID 3.5), President Trump has indicated he will sign the bill into law. The bill provides $484 billion in additional funding to replenish and supplement key programs under the CARES Act, including the Paycheck Protection Program (PPP), small business disaster loans and grants, hospitals and health care providers, and testing. The small business loan programs authorized under the CARES Act had been quickly depleted after only two weeks of operation. More details are below:

Specific funding is provided for:

President Trump announced that he would sign the legislation as passed in the house whenever it passes the Senate.

ISASS will provide additional updates on this legislation and other federal relief legislation in the coming weeks.

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