U.S. SENATE – U.S. Senator Steve Daines today secured a boost of over $480 billion in funding for testing, hospitals, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan Program (EIDL) to provide more relief for Montana small businesses, workers, families and healthcare professionals in light of the Coronavirus pandemic.
This is not Phase Four of Congress’ response to the coronavirus outbreak. This bipartisan deal is a boost in funding from the Coronavirus Economic Relief Package which was signed into law on March 27th, 2020 to protect public health, and provide relief for Montana small businesses, workers and families. Daines helped secure this funding as a step towards safely reopening the economy as he serves on President Trump’s Task Force to Safely Reopen America.
$310 Billion to Replenish the PPP for Small Businesses:
“Replenishing the Paycheck Protection Program is critical to helping Montana small businesses keep their doors open and workers employed,” Daines said. “As of today, Montana small businesses have received 13,456 loans for over $1.4 billion under this program. This new boost in funding will continue to help Montana small businesses and workers during this tough time.”
The $310 billion will replenish the PPP and ensure Montana small business owners can continue to apply for forgivable loans including grants that help keep their workers on payroll and help their businesses stay open during the crisis.
Daines fought to secure $350 billion in initial funding for the PPP in the Phase Three Coronavirus Economic Recovery Package signed into law three weeks ago. Since PPP was enacted, over 13,456 Montana small business owners have received loans.
Tanya Weinreis of Billings owns the first Montana small business to qualify for a PPP loan, helping her coffee business could stay open and her 50 employees keep their jobs during this pandemic.
$60 Billion for EIDL Program:
“More money for this program will help keep Montana businesses open and their workers employed during the ongoing Coronavirus pandemic,” Daines said.
The $60 billion of funding, including an additional $10 billion for emergency EIDL grants, will replenish EIDL program for Montana small businesses. This is in addition to the $10 billion Daines secured for EIDL in the Phase Three Coronavirus Economic Relief Package.
It was also announced today that Ag businesses are now eligible to apply for funding under EIDL. Today, Senate Leadership credited Daines for his hard work to ensure Montana ag was eligible for the program. Earlier this month, Senator Daines sent a letter to the Small Business Association urging them to grant farms, ranches, and agriculture businesses the opportunity to apply for the EIDL program.
$25 Billion for Coronavirus Testing:
“This funding ensures Montanans and Americans across the country have greater access to testing for the coronavirus. An increase in testing is critical as we begin to safely to reopen the economy and get folks back to work,” Daines said.
Montana will receive $16,295,844 under this provision to develop, purchase, administer, process, and analyze COVID-19 tests, scale-up laboratory capacity, trace contacts, and support employer testing.
This is in addition to the $38 billion Daines help secured in the Phase Three Coronavirus Economic Recovery Package for developing tests, treatment, and vaccines for the Coronavirus.
$75 Billion for Hospitals and Healthcare Providers:
“This funding will help protect the health of Montanans, provide relief for Montana’s hospitals that are facing a major loss in revenue during this pandemic, keep our healthcare professional employed and help our hospitals continue to serve our communities,” Daines said.
This funding is critical for Montana hospitals which have experienced a major loss in revenue while not being able to perform elective procedures during the coronavirus outbreak and more. Just last week, it was announced that the Kalispell Regional Hospital had to furlough 600 employees.
This funding is in addition to the $100 billion Daines secured for hospitals and providers in the Phase Three Coronavirus Economic Recovery Package. Of that money, $30 billion has been distributed from HHS, including more than $100 million for Montana hospitals and providers.
For more information on the funding directed for Coronavirus testing and hospitals, click HERE.
Daines has been leading the efforts in Congress to respond to the coronavirus outbreak impacting the country. To read about Daines’ COVID-19 related efforts click HERE.