Partisan fight threatens more aid to small businesses in U.S. Senate effort
WASHINGTON - The U.S. Senate on Thursday failed to pass an additional $250 billion of aid intended to help small businesses cope with the economic toll of the coronavirus pandemic as Democrats and Republicans blocked each other’s proposals.
For example, Democrats wanted to mandate that $60 billion of the new small business money would be set aside for community-based lenders, including minority-run institutions. The $250 billion in small business loans, which could turn into government-paid grants if lenders meet certain terms, would be in addition to $349 billion already allocated.
The lobbying group called for a series of changes to the newly created program, including more flexibility in use of the loans and replenishment of a separate disaster aid arrangement. Congress and the Trump administration hope the small business loans, coupled with aid to larger corporations, direct payments to individuals and emergency funding for hospitals will help the United States recover from the economic blow of the coronavirus outbreak. It has resulted in shuttered schools and businesses, left most of the nation’s population sheltering at home and thrown millions out of work.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Mnuchin seeks $250 billion more in small business aid, as Senate vote is planned for Thursday“I want to assure all small businesses out there: We will not run out of money,” Treasury Sec. Mnuchin says, after announcing yesterday he is seeking an additional $250 billion in small business aid.
Baca lebih lajut »
Senate deadlocks on latest coronavirus relief package for small businessesDemocrats demand new safeguards on a small business lending program. Republicans counter that action is urgent to save jobs.
Baca lebih lajut »
Senate Democrats Block GOP Effort To Boost Small-Business AidSenate Democrats blocked a GOP effort to add $250 billion in small-business loans. Sen. Ben Cardin, D-Md., called Mitch McConnell's request a 'political stunt' — saying it won't help small businesses as quickly as adding more funding for grant programs.
Baca lebih lajut »
Senate Democrats block $250 billion in small business relief, accuse McConnell of a 'political stunt'The decision to prevent the relief from passing came despite another 6.6 million people filing for unemployment benefits last week, bringing the total number of Americans who've said they've found themselves jobless in the past three weeks.
Baca lebih lajut »
Small business funding hits snag in Senate with McConnell and Schumer at an impasseSenate Democrats are expected to block a GOP measure for $250 billion more for small businesses and instead offer a broader proposal of their own. How lawmakers will overcome the impasse remains to be seen.
Baca lebih lajut »
U.S. Senate tells members to avoid Zoom over data security concerns: FTThe U.S. Senate has told its members to not use Zoom's video conferencing app due to data security concerns, the Financial Times reported on Thursday, even as the company attempts to stem a global backlash against its fast-growing app.
Baca lebih lajut »