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Government Offers New Lifeline to Struggling Small Businesses

President Joe Biden is announcing a new plan to help small businesses struggling to survive the pandemic. Starting tomorrow -- and for the next two weeks -- businesses with fewer than 20 employees can apply for federal loans through the Paycheck Protection Program. President Biden is also pushing Congress to pass the American Rescue Plan Act of 2021. The president proposed the one-point-nine trillion dollar stimulus package to address the economic and health effects of the COVID-19 pandemic and the ongoing recession. The plan also includes $1400 direct payments to most Americans.