H.R. 266, Paycheck Protection Program and Health Care Enhancement Act — Cost Estimate

Summary

A Congressional Budget Office cost estimate dated April 22, 2020 for H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act, as passed by the Senate on April 21, 2020. It states that Division A would increase the subsidy appropriation for the SBA's Paycheck Protection Program (PPP) by $321 billion in 2020 and require the SBA to use at least $60 billion to guarantee loans made by smaller depository institutions, credit unions and community financial institutions. Division B would provide $75 billion to reimburse health care providers, $25 billion for COVID-19 tests and $62 billion for SBA salaries, expenses and loan programs. Estimates are relative to CBO's March 2020 baseline.

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H.R. 266, Paycheck Protection Program and Health Care Enhancement Act

April 22, 2020

Cost Estimate

As passed by the Senate on April 21, 2020

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Summary

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.

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