Congress close to refunding small business loan program
House Speaker Nancy Pelosi said which will Congress is âvery closeâ to attaining a bipartisan deal for further funding for a small business loan program that sold out regarding money last week.
âWeâre close. We have common ground,â Pelosi said in an employment interview on ABC Newsâ? âThis Weekâ which will will air Sunday. âI think weâre very close to agreement.â
The $350 billion Paycheck Protection Program went broke a week ago under overpowering demand, leaving a huge number of business proprietors in the lurch.
Congressional leaders are at a clash in negotiating replenishing the pain relief fund and have been around talks with Treasury Secretary Steven Mnuchin.
GOP lawmakers currently have been pushing to have an additional $251 billion for the small business loans, but Democrats are already having out, seeking another $250 million to be designated to neighborhood and state governments and private hospitals that have taken huge fiscal hits while on the frontlines in the combat with the coronavirus.
President Trump has recently been ripping Democrats over the prior couple of days for holding up this loan program.
âLawmakers must stop blocking these funds and replenish the program without delay,â Trump said in the White House agglom¨¦ration on Saturday. âThe Democrats have to come on board. I used to read that these were Democrat programs, not Republican. Seems to have switched around a lot, hasnât it, huh? Switched around a lot. The Republicans want it. I think the Democrats probably do too, but they also want other things that are unacceptable.â