White House and Dems Reach New $450 Aid Bill for Small Businesses - Economic Expert Weighs In

Lawmakers on Capitol Hill have reached a deal to bring even more much-needed financial relief to small businesses struggling as a result of the coronavirus outbreak. 

This new deal between the White House and Democrats will provide an additional $450 billion in aid for small businesses because the first tranche of relief cash was quickly used up.

Senate Minority Leader Chuck Schumer (D-NY) said, "We came to an agreement on just about every issue. Staff was up all night, writing. There is still a few more I's to dot and t's to cross, but we have a deal."

Even with this additional money, small businesses are still shuttered due to the virus, so more bankruptcies, business failures, and job losses are expected.

The deal also includes additional money for hospitals and expanded testing - those are issues Democrats insisted on.

For more about this latest relief bill, CBN News spoke with Dr. Steven Skancke, an international affairs and economics professor at George Washington University who has served on the National Security Council under four presidents.