CNBC on the details
The details of the stimulus package are along the lines of what's been rumored/reported in the past few days:
Breakdown of deal reached to expand small biz funding from CNBC's Kayla Tausche:
- $250B for PPP
- $60B for banks with <$50B in assets
- $60B SBA disaster relief
- $2.1B for admin of SBA programs
- $75B for hospitals
- $25B for testing, incl. $11B for states
Meanwhile Trump says he will sign the bill and says the next round of bailouts will focus on State and local governments. They will also discuss infrastructure and tax incentives for restaurants, entertainment, sports and payroll tax cuts.
At what point do they talk about paying for it all?
I think we're closing in on a +$5 trillion deficit.
The other question is how long this $310B in PPP money lasts?
