Nancy Pelosi Blocks Additional Small Business Relief Funds; Pelosi Presses Mnuchin on $500B Coronavirus ‘Interim’ Package
By The Conservative Treehouse. The initial coronavirus relief funding package (CARES Act) included $380 billion targeted to small businesses as part of the larger congressional relief package. Within the SBA section small and medium businesses can apply for loans to cover payroll (75%), called payroll protection plan (ppp); and expenses (25%). If the PPP funding is used to keep employees on payroll the loan is forgiven. Thousands of businesses have applied. . .
Senator McConnell framed a bill to provide the additional funds and asked for unanimous consent to advance the legislation. However, speaker Pelosi doesn’t want to miss an opportunity to add pet project (constituent funding) to the bill. Speaker Pelosi instructed Senator Ben Cardin to object to the unanimous consent request and block the funds. (Read more from “Pelosi Blocks Additional Small Business Relief Funds” HERE)
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Pelosi Presses Mnuchin on $500B Coronavirus ‘Interim’ Package
By The Hill. Speaker Nancy Pelosi (D-Calif.) on Friday pressed the Trump administration to boost funding for states and hospitals in the next round of coronavirus relief, which stalled in the Senate a day earlier.
In a phone call with Treasury Secretary Steven Mnuchin, Pelosi said that while Democrats support an additional $250 billion for small businesses, as the administration and congressional Republicans have proposed, they’ll also insist on language ensuring that businesses owned by minorities, and those operating in rural areas, are able to access the funds quickly, according to Pelosi spokesman Drew Hammill. . .
“[Pelosi] reiterated Democrats’ position that the initiative must not solidify the disparity in access to capital faced by many small businesses in underserved areas,” Hammill said in an email. . .
Democrats also want an additional $150 billion for state and local governments, to help facilitate the emergency response, and $100 billion more for hospitals and community health centers providing front-line care in the coronavirus fight. Those requests come on top of the $150 billion for states, and roughly $120 billion for hospitals, already adopted late last month in the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act. (Read more from “Pelosi Presses Mnuchin on $500B Coronavirus ‘Interim’ Package” HERE)
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