WHITE HOUSE AND DEMOCRATS NEAR DEAL ON AID FOR SMALL BUSINESSES, HOSPITALS

WASHINGTON — The White House and congressional Democrats on Sunday closed in on an agreement for a $450 billion economic relief package to replenish a depleted emergency fund for small businesses and to expand coronavirus testing around the country, with votes on the measure possible early this week. 

Treasury Secretary Steven Mnuchin described the broad outlines of the package in an appearance on CNN on Sunday. The agreement would include $300 billion to replenish the emergency fund, called the Paycheck Protection Program; $50 billion for the Small Business Administration’s disaster relief fund; $75 billion for hospitals and $25 billion for testing.

The money for hospitals and testing in the package Mr. Mnuchin outlined was a significant concession to Democrats, who were standing in the way of a quick and stand-alone infusion of cash to the Paycheck Protection Program, which offers forgivable loans to small businesses to create incentives for them to keep employees on their payroll.

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