March 25, 2020
By Caity Witucki
BREAKING NEWS — Senate Passes CARES Act Unanimously
The U.S. Senate voted unanimously on Wednesday night to approve S.3548, the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The bill was introduced last week by senator Mitch McConnell and includes nearly $300 billion in SBA 7(a) loan authority for small businesses affected by the novel coronavirus outbreak.
The House is expected to vote on the bill on Thursday or Friday. Prior to the vote, President Trump told the nation that he is prepared to sign the bill. “I encourage the House to pass this vital legislation and send the bill to my desk for signature without delay,” says Trump. “I will sign it IMMEDIATELY!”
This is a developing story. We will give updates on the situation as we learn more.