“Increasing the Paycheck Protection Program is the right thing because it will give a lifeline to employees and businesses throughout Arkansas. Already, our state has benefited from 21,000 loans totaling more than $2.7 billion, and for the hardworking Arkansans whose livelihoods have unnecessarily been in jeopardy for the past two weeks thanks to Speaker Pelosi and Senate Minority Leader Schumer, I am glad that the wait will soon be over. I am doing everything I can to support our communities during this public health and economic crisis.”

The legislation includes:

• Provides an additional $310 billion in PPP loans:
  • $30 billion in guaranteed loans for lenders with less than $10 billion in assets.
  • $30 billion in guaranteed loans for lenders with $10 billion to $50 billion in assets.
• Provides an additional $10 billion for Emergency Economic Injury Disaster (EIDL) grants.
• Appropriates an additional $50 billion for the Disaster Loans Program Account.
• Allows agricultural enterprises as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)) with not more than 500 employees to receive EIDL grants and loans. 
• Provides an additional $75 billion for reimbursement to hospitals and healthcare providers to support the need for COVID-19 related expenses and lost revenue.
• Provides $25 billion for necessary expenses to research, develop, validate, manufacture, purchase, administer, and expand capacity for COVID-19 tests, specifically:
  • $11 billion for states, localities, territories, and tribes to develop, purchase, administer, process, and analyze COVID-19 tests, scale-up laboratory capacity, trace contacts, and support employer testing. Funds are also made available to employers for testing.
  • $1 billion provided to Centers for Disease Control and Prevention for surveillance, epidemiology, laboratory capacity expansion, contact tracing, public health data surveillance and analytics infrastructure modernization.
  • $1.8 billion provided to the National Institutes of Health to develop, validate, improve, and implement testing and associated technologies; to accelerate research, development, and implementation of point-of-care and other rapid testing; and for partnerships with governmental and non-governmental entities to research, develop, and implement the activities.
  • $1 billion for the Biomedical Advanced Research and Development Authority for advanced research, development, manufacturing, production, and purchase of diagnostic, serologic, or other COVID-19 tests or related supplies.
  • $22 million for the Food and Drug Administration to support activities associated with diagnostic, serological, antigen, and other tests, and related administrative activities.
  • $825 million for Community Health Centers and rural health clinics.
  • Up to $1 billion may be used to cover costs of testing for the uninsured.