President Donald Trump has signed legislation to temporarily extend a subsidy program for small businesses abused by coronavirus. The legislation extends June 30 to apply for the program until August 8.
The legislation extends the deadline of June 30 to apply for the program until August 8. Lawmakers created the program in March and have changed it twice since, adding money at one time and recently allowing more flexible use of funding despite some mumbling among GOP conservatives.
About $ 130 billion of the $ 660 billion approved for the program remains eligible for companies to seek direct federal subsidies for salaries and other costs such as rent, though demand for the Paycheck Protection Program has dried up quite a bit in recent weeks.
The Democratic-controlled House voted on Wednesday to approve the extension of the program after the Republican-controlled Senate did the same.
Trump had been expected to sign the measure.