Apr 21, 2020

Axios PM

Good afternoon: Today's PM — edited by Justin Green — is 370 words, a 1.5-minute read.

⚡️U.S. health regulators have OK'd the first coronavirus test that allows people to collect their own samples at home. (AP)

Breaking: Netflix blew past investor expectations for subscriber growth in the first quarter. Go deeper.

1 big thing: The next coronavirus stimulus infusion

Screenshot: Fox News

Another $484 billion is coming for hospitals, expanded testing and to replenish the coronavirus stimulus bill's emergency loan program for small businesses, with the possibility of a bill reaching President Trump's desk before the weekend.

Why it matters: The economy is cratering and the most recent stimulus package wasn't big enough, forcing some small businesses to wait in potentially ruinous limbo.

  • Senate Republicans tried to add $250 billion to the loan program earlier this month, but they were blocked by Democrats, who demanded more funding for hospitals and testing.

$322 billion of the agreement is for replenishing the Paycheck Protection Program, which dried up last week, Axios' Alayna Treene reports.

  • Roughly $60 billion of that total will be allocated to small lenders and community banks.

The rest includes ...

Between the lines: One of the biggest issues that the PPP faced in the rollout of the program was that small businesses in underserved communities struggled to compete with bigger businesses that had existing relationships with banks.

  • This bill has carve-outs so that community businesses and lenders don’t have to fight bigger businesses and banks for the same funding, a provision that Democrats fought hard for.

What's next: The final legislative text has been completed, and the Senate is hoping to pass the bill during a pro forma session this afternoon.

  • The House is beginning to return to Washington for a vote as early as Thursday.
  • President Trump urged Congress to pass the bill in a tweet, signaling that he is ready for the legislative branch to move on to a fourth stimulus package.

Go deeper: Read the bill

Bonus: Pic du jour
Photo: Alex Grimm/Getty Images

Staff install a plexiglass pane on the teacher's table during preparations for reopening an elementary school in Heppenheim, Germany.

  • Schools across Germany are making preparations to reopen in the coming weeks. Certain precautions will accompany the resumption, including keeping pupils socially distanced and the wearing of protective face masks.
2. Catch up quick
  1. U.S. latest: Two-thirds of Americans now view China unfavorably, up from 47% two years ago — Senate Intel affirms that Russia interfered to help Trump in 2016 — Universities try to offset massive losses with layoffs and furloughs.
  2. World latest: Oktoberfest canceled due to coronavirus.
  3. Business latest: General Motors is winding down Maven, its car-sharing business — Trump says he’ll help beleaguered oil industry, but he has limited policy levers available.
3. 1 book thing

Cover: Scholastic

The next “Hunger Games” book is coming out next month, and a movie version is now being planned, AP reports.

  • The film will take place in Suzanne Collins’ fictional Panem and center on 18-year-old Coriolanus Snow, the future president, played in the earlier movies by Donald Sutherland.

What's next: Movie productions have been halted by the coronavirus pandemic, so no release date has been set and casting has not begun.