Division A would increase the subsidy appropriation for the Small Business Administration’s (SBA’s) Paycheck Protection Program (PPP) by $321 billion in 2020. The legislation would require the SBA to use at least $60 billion of the PPP subsidy to guarantee loans made by smaller depository institutions, credit unions, and community financial institutions. It also would increase the authorization for Economic Injury Disaster Loans (EIDLs) by $10 billion; that authorization is not shown in this table because funding for EIDLs is part of the appropriations provided in division B and is shown in Table 2. Estimates are relative to CBO’s March 2020 baseline; enactment is assumed in April 2020.
Division B would provide $75 billion in supplemental appropriations to reimburse health care providers for expenses or lost revenues that are attributable to the novel coronavirus. It also would provide $25 billion to develop, purchase, administer, process, and analyze tests for COVID-19 (the disease caused by the coronavirus). In addition, it would provide $62 billion for salaries and expenses and for loan programs of the Small Business Administration. That amount includes $10 billion for economic injury disaster loans as authorized by division A; that funding is considered a change to a mandatory program.
The legislation would designate those amounts as emergency requirements in accordance with section 251 of the Balanced Budget and Emergency Deficit Control Act of 1985; the limits on discretionary budget authority established by the Budget Control Act of 2011, as amended, would be adjusted to accommodate that funding.
Components may not sum to totals because of rounding. Estimates are relative to CBO’s March 2020 baseline; enactment is assumed in April 2020.