WASHINGTON, D.C. - There is some good news Thursday for small business owners.

Late Wednesday night, the U.S. Senate passed reforms to the Paycheck Protection Program – the loan forgiveness initiative created earlier this year to curb the economic impact of the coronavirus (COVID-19) pandemic. Now, employers will have more time to spend federal relief aid during the coronavirus pandemic, from eight weeks to 24 weeks. The bill also offers employers more flexibility when it comes to spending the money. Previously, 75 percent of the funds were to be used for payroll and the other 25 percent for other expenses in order for the loans to be forgiven. The new legislation drops those restrictions to a more favorable 60 percent on payroll and 40 percent on other costs. President Donald Trump is expected to sign the measure.

“They can use the money for additional purposes rather than the amount we had before,” said Rep. Tom Reed (R-N.Y.).

But that’s where the compromise on Capitol Hill ends, at least for now. Senators remain stuck on additional aid talks. Republicans largely oppose the massive $3 trillion HEROES Act the House passed last month. Democrats are urging GOP leaders to consider the bill or other types of aid.

“The House bill answers so many of our challenges, including the obligation we have to frontline workers,” said Sen. Bob Casey (D-Pa.).

“Democrats in the Senate have a sense of urgency,” Sen. Mazie Hirono (D-Hawaii) said. “But that sense of urgency is definitely not shared by (Sen. Majority Leader) Mitch McConnell (R-Ky.).”

Here is a reminder of some of the key parts of the HEROES Act. The bill calls for nearly $1 trillion dollars in state and local government relief. That portion is expected to cover budget shortfalls from pandemic for key local services, including local police and fire departments, along with schools.

Senate Democrats are publicly calling on Republican leaders to act quickly, with more than 40 million Americans out of work.

“The recession will get deeper,” Senate Minority Leader Chuck Schumer (D-N.Y.) said during his floor speech Wednesday. “It could develop into a depression if we don’t have relief.”

The HEROES Act is not expected to pass the Senate. GOP leaders have called the bill “dead on arrival” after House Democrats rushed it through their chamber last month. However, some parts, like state and local aid, could be passed on their own.

“The House is, in fact, considering moving (state and local aid legislation) separately and basically saying to the Senate, ‘Okay, this is the number one priority to a lot of folks out there. What are you going to do with this one?’,” said Rep. Ed Case (D-Hawaii).

The bill also includes another round of $1,200 stimulus checks for most Americans. The income standards would be the same as the first round.

A recent WalletHub survey shows 84 percent of Americans want the additional money. But with the stalemate in the Senate, don’t expect those checks any time soon.

"If Republicans don’t like the House bill, tell us what you’re for,” Casey said.