Alaska Awaits Passage of $484 Billion Bill for Economic Relief
April 22, 2020
The $484 billion COVID-19 financial aid package is awaiting approval in Congress. This package will provide a boost to programs designed to help Alaskans and U.S. businesses, state congressmen reported this Wednesday, April 22, 2020.
The new bill contains $310 billion to replenish the Payroll Protection Program and another $60 billion to strengthen the Economic Injury Disaster Loan Program.
Nationally, about 27,000 disaster loans have been approved, for a total of $5.6 billion as of Monday, April 20, 2020. More than 1,600 applications have been processed in Alaska to receive relief of up to $10,000.
Almost all Alaskan applications processed for aid would also have applied for a loan, said Kevin Wynne, an SBA Administration official. The agency's upcoming Press Release on the program should show an increase in loans to Alaskans, however, Wynne noted that he did not know when this data will be published.
The additional economic aid "is desperately needed," said U.S. Senator Lisa Murkowski. At least 22 million Americans have applied for unemployment benefits in recent weeks, including more than 60,000 people in Alaska.
"The economic impact we are seeing in this state is extraordinary, we can just begin to evaluate the need for the relief required, this aid has been designed to achieve stabilization, and we are not yet stable," Murkowski stressed.
The Alaska Congressional delegation is trying to solve the problem, including making sure that tourism companies affected by the lack of cruises this summer have access to funds when they need it most.
The bill also provides $75 billion to support health care providers and hospitals during the crisis, another$25 billion will provide money to expand testing of the virus, much of that for state and local government, and $750 million for tribes and tribal health groups.
"The delegation is working to ensure that the expanded tests are conducted in Alaska, to help ensure commercial fishing can be conducted safely this summer," Congresswoman Murkowski confirmed.
The new bill is expected to pass in the House of Representatives on Thursday. If passed, the bill will become the fourth relief measure passed by Congress to address the crisis.
by Sol de Medianoche
The $484 billion COVID-19 financial aid package is awaiting approval in Congress. This package will provide a boost to programs designed to help Alaskans and U.S. businesses, state congressmen reported this Wednesday, April 22, 2020.
The new bill contains $310 billion to replenish the Payroll Protection Program and another $60 billion to strengthen the Economic Injury Disaster Loan Program.
Nationally, about 27,000 disaster loans have been approved, for a total of $5.6 billion as of Monday, April 20, 2020. More than 1,600 applications have been processed in Alaska to receive relief of up to $10,000.
Almost all Alaskan applications processed for aid would also have applied for a loan, said Kevin Wynne, an SBA Administration official. The agency's upcoming Press Release on the program should show an increase in loans to Alaskans, however, Wynne noted that he did not know when this data will be published.
The additional economic aid "is desperately needed," said U.S. Senator Lisa Murkowski. At least 22 million Americans have applied for unemployment benefits in recent weeks, including more than 60,000 people in Alaska.
"The economic impact we are seeing in this state is extraordinary, we can just begin to evaluate the need for the relief required, this aid has been designed to achieve stabilization, and we are not yet stable," Murkowski stressed.
The Alaska Congressional delegation is trying to solve the problem, including making sure that tourism companies affected by the lack of cruises this summer have access to funds when they need it most.
The bill also provides $75 billion to support health care providers and hospitals during the crisis, another$25 billion will provide money to expand testing of the virus, much of that for state and local government, and $750 million for tribes and tribal health groups.
"The delegation is working to ensure that the expanded tests are conducted in Alaska, to help ensure commercial fishing can be conducted safely this summer," Congresswoman Murkowski confirmed.
The new bill is expected to pass in the House of Representatives on Thursday. If passed, the bill will become the fourth relief measure passed by Congress to address the crisis.
by Sol de Medianoche