President Donald Trump signed legislation approving an additional $484 billion in coronavirus relief for American workers and businesses Friday.
The phase 3.5 spending bill passed Thursday through Congress after being held up in the House of Representatives. It provides $310 billion for the Paycheck Protection Program, $75 billion in relief for hospitals and $25 billion to support additional testing. The bill comes as rumblings of a phase 4 stimulus package are already well underway.
Trump said the bill was “great for small businesses,” and would “extend relief to thousands of African-American and Hispanic American business owners.” (RELATED: ‘It’s Time For Congress to Get Back To Work’ — Kevin McCarthy Writes Letter To Pelosi Detailing How To Reopen Congress)
Trump also announced Thursday his administration would be cracking down on wealthy companies and institutions that had received coronavirus relief. Several fast food chains and large universities had accepted millions in relief. Some returned the money without being asked, but the Trump administration withheld checks from some and ordered money returned from others.
Thanks to @Stanford, @Princeton, @Harvard, @Yale, @Caltech and @Penn for doing the right thing and not accepting taxpayer funds. I hope all schools who can afford to do so continue to let the money go to those in greatest need!
— Secretary Betsy DeVos (@BetsyDeVosED) April 23, 2020
Americans began receiving their $1,200 checks from the phase 3 relief bill in mid-April. It is not clear whether a potential phase 4 package would include another direct payment.