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Infrastructure bill pulls $31 billion from Covid disaster loan program

  • A $1 trillion Senate infrastructure bill unveiled Sunday would pull $31 billion in unobligated funds from the Economic Injury Disaster Loan program.

  • The loans were one of the policy levers Congress used to help ailing businesses during the Covid pandemic. It initially suffered some setbacks such as delays and reduced funding amounts amid high demand.

  • The Infrastructure Investment and Jobs Act would claw back $13.5 billion from the EIDL program, and another $17.6 billion in affiliated grants for businesses in low-income areas.

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