Democratic lawmakers stopped a bill that would have given American businesses the financial assistance they need to stay afloat amid the ongoing coronavirus pandemic.
The Paycheck Protection Program, signed into law by President Trump last week, has already given out $98 billion in assistance to companies that are struggling to generate any revenue as people are following social distancing guidelines and restrictions.
But, this money is running out.
The Trump administration requested an additional $250 billion refill for the program and Republican lawmakers quickly complied.
Democrats in the Senate, however, blocked the measure.
“The Paycheck Protection Program—a successful lifeline for small businesses—is expected to run out of money as soon as next week,” House Minority Leader Kevin McCarthy tweeted. “This morning, Democrats blocked a one-page bill to simply add more money for it.”
“Incomprehensible,” he added.
The Paycheck Protection Program—a successful lifeline for small businesses—is expected to run out of money as soon as next week.
This morning, Democrats blocked a one-page bill to simply add more money for it. Incomprehensible. pic.twitter.com/cQANTeWP6b
— Kevin McCarthy (@GOPLeader) April 9, 2020
“The Paycheck Protection Program is helping keep small businesses afloat,” House Republicans said on their verified Twitter account. “Funding for it could run out by next week. President Trump & Republicans are working hard to add more money so we can save jobs, but Democrats are blocking it.”
“That’s despicable,” the page concluded.
The Paycheck Protection Program is helping keep small businesses afloat.
Funding for it could run out by next week.
President Trump & Republicans are working hard to add more money so we can save jobs, but Democrats are blocking it.
That’s despicable.https://t.co/GB7wZE4OzV
— House Republicans (@HouseGOP) April 10, 2020
Defending the decision, Democratic Senator Chris Van Hollen told MSNBC host Lawrence O’Donnell that Democrats agree that small businesses need more money but said they should not just be handed it.
“Let’s work in a bipartisan way instead of Mitch McConnell trying to sneak something through the floor,” he said per MSNBC.
Sen. Van Hollen says it’s “disappointing but not surprising that Mitch McConnell would try to pull a fast one” in attempting to add $250B in small business aid to the coronavirus relief bill. https://t.co/bAGFYBA2so
— MSNBC (@MSNBC) April 10, 2020
The request, the Wall Street Journal reports, comes as 6.6 million more Americans applied for jobless benefits last week.
Reminder that Democrats blocked the Paycheck Protection Program yesterday.
Shameful. Absolutely shameful. This makes no sense. https://t.co/XHWCZRE3bV
— Energy & Commerce GOP (@HouseCommerce) April 10, 2020
I rattling happy to find this site on bing, just what I was searching for : D likewise saved to favorites .
When do you think this Real Estate market will go back in a positive direction? Or is it still too early to tell? We are seeing a lot of housing foreclosures in Longwood Florida. What about you? I would love to get your feedback on this.
Excellent read. I just passed this onto a friend who was doing a little research on that. He just bought me lunch as I found it for him! So let me rephrase: Thanx for lunch!