The $480 billion aid package will boost the Paycheck Protection Program and address other needs.

The House of Representatives passed a bill on Thursday to provide around $484 billion for various coronavirus relief efforts. The bill passed with a vote of 388-5 and is set to head to the President’s desk for approval. President Trump has expressed his support for the additional funding and intends to sign it into law.

Most of the funds, approximately $310 billion, will go towards revitalizing the Paycheck Protection Program (PPP). Originally designed to offer loans to struggling small businesses during the pandemic, the PPP ran out of funds earlier in the month. This led to criticism from small business owners and the public, especially after it was revealed that some larger companies had received assistance from the program. Lawmakers have assured that this new round of funding will target smaller businesses exclusively, excluding larger corporations.

The remaining portion of the aid package will be earmarked for healthcare purposes. $75 billion is allocated to support hospitals in covering expenses and making up for lost revenue, while $25 billion will be used to expand coronavirus testing nationwide.

In addition to the financial assistance, a special coronavirus oversight panel has been established as a subset of the house oversight committee. This panel will have the authority to investigate the allocation and utilization of coronavirus relief funds across the country. Its mandate includes conducting a thorough investigation and delivering a final report to the House detailing its findings. The committee will focus on various aspects such as executive branch policies, decision-making processes, activities, as well as internal and external communications related to the pandemic crisis.