Senate 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.
An emergency supplemental provision worth $250 billion for small business loans is expected to be defeated in the Senate on Thursday as Republicans and Democrats remained at an impasse Wednesday night.
"Democrats have a better alternative and will bring it to the floor tomorrow," a senior Senate Democratic aide toldDemocrats, including Minority Leader Chuck Schumer and House Speaker Nancy Pelosi , are pushing for a Socially distanced apart, Senate Majority Leader Mitch McConnell , U.S. Treasury Secretary Steven Mnuchin, and Senate Minority Leader Chuck Schumer attend a meeting with a select group of Senate Republicans, Senate Democrats, and Trump administration officials in the Hart Senate Office Building on Capitol Hill March 20 in Washington, DC.
Democrats support the additional funding, but want added stipulations: $125 billion of the $250 billion must go through local banks that serve farmers, family, women, minority and veteran-owned small businesses; it must include nonprofits in rural, tribal, suburban and urban communities; and businesses can't be rejected for not having a prior relationship or loan with a bank, as has reportedly happened.
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Treasury Secretary Mnuchin says the government won't run out of money for small businesses
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