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		</div><p>President Donald Trump will be holding a signing ceremony on Friday for the US government’s new $500 billion (£405 billion) coronavirus relief bill.</p>
<p>The package, which was passed on Thursday, will bring relief to employers and hospitals buckling under the strain of a pandemic that has claimed almost 50,000 American lives and one in six US jobs.</p>
<p>Anchoring the bill is $250 billion (£202.5 billion) to replenish a fund to help small and medium-size businesses with payroll, rent and other expenses.</p>
<p>The payroll program provides forgivable loans so businesses can continue paying workers while forced to stay closed for social distancing and stay-at-home orders.</p>
<p>It also contains $100 billion (£81 billion) for hospitals and a nationwide testing program, along with $60 billion (£48.6 billion) set-aside for small banks that focus on development in urban neighbourhoods and rural areas ignored by many lenders.</p>
<p>There’s also $60 billion (£48.6 billion) for small-business loans and grants delivered through the Small Business Administration’s existing disaster aid program.</p>
<p>Mr Trump celebrated the bill’s passage at his daily White House briefing on Thursday.</p>
<p><em>“At a time when many Americans are enduring significant economic challenges, this bill will help small businesses to keep millions of workers on the payroll,”</em> he said.</p>
<p>Passage of more coronavirus relief is likely in the weeks ahead.</p>
<p>Supporters are already warning that the business-backed Payroll Protection Program will exhaust the new $250 billion (£202.5 billion) almost immediately.</p>
<p>Launched just weeks ago, the program quickly reached its lending limit after approving nearly 1.7 million loans.</p>
<p>Thursday’s measure brings total rescue funding to $2.4 trillion (£1.9 trillion), according to the Congressional Budget Office.</p>
<p>Each day brings new evidence of the economic calamity wrought by the virus.</p>
<p>Thursday morning the government reported that 4.4 million people filed for unemployment benefits last week as layoffs sweep the economy.</p>
<p>Over the last five weeks, roughly 26 million people have filed for jobless aid.</p>
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