Chief Executive Officer North America

The House of Representatives voted to pass a $484 billion coronavirus relief package.

As new unemployment figures highlight the staggering toll the pandemic has taken on the U.S. job market, The House of Representatives voted 388-5 to pass a $484 billion coronavirus relief package that includes aid for small businesses and hospitals.

The legislation, according to CBS, known as the Paycheck Protection Program and Health Care Enhancement Act, is the result of weeks of negotiations between congressional Democrats and the White House. It includes $75 billion for hospitals, $25 billion to establish a national testing regime, $60 billion in disaster aid and $310 billion for the Paycheck Protection Program (PPP), which provides loans to small businesses to help them retain workers and meet payroll. The PPP exhausted its initial $349 billion in funding last week.

President Trump has expressed support for the measure and is expected to quickly sign it into law.