Late yesterday, the House passed the PHASE 3.5 COVID package. It now moves to the President for his signature. Here is a breakdown of what's included:

• $310 billion more for the Paycheck Protection Program (PPP), which ran out of funds late last week.
  • $60 billion of which is set aside for small businesses that do not have access to large financial institutions, to be divided between lenders with less than $10 billion in assets and those with $10-$50 billion.
• $50 billion for the Small Business Administration's Economic Impact Disaster Loan (EIDL) program.
• $75 billion for hospitals.
• $25 billion for COVID-19 tests to be divided among federal, state, and local governments, with a requirement for a national testing strategy.
• "Fixes" to previous COVID-19 relief measures, including giving states and localities additional flexibility to use funds allocated to address lost revenues.

A section-by-section summary of the SBA provisions can be found here, and a summary of the health provisions for hospitals and testing can be found here.