Speaking on MSNBC, Pelosi congratulated her colleagues in the Senate for blocking an emergency extension to the Paycheck Protection Program, despite millions of small businesses relying on its funding that could run out as early as Friday. The PPP had set out $350 billion in forgiveable loans to help these businesses through the coronavirus pandemic, with 880,000 applications for a total of $217 billion being approved by Monda
“So last week when they came and asked for a quarter of a trillion dollars in 48 hours, I said, ‘well I don’t think, let’s see how we can open this up to many more people,'” Pelosi said. “So Chuck Schumer and I, this all happened on the Senate side and I congratulate the Senate Democrats, they went to the floor when Mitch McConnell went in for this [$250 billion] and they said they objected.”
With around 62% of the emergency coronavirus funding for small businesses being already allocated, up from 48% on Friday, and over 200,000 applications for relief still flooding in, it’s astonishing to me that Pelosi can celebrate the rejection of this. Rather than simply passing the bill instead, Pelosi and the Democrats are demanding extra billions to go towards hospitals and healthcare facilities to help fight the coronavirus, which is in fairness, an admirable destination for funding, but also want to guarantee that women and minorities will be the first to receive any of the small business loans! Full Story - Jack Hadfield - Political Insider
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