Dems block McConnell bid to swiftly approve $250B more for small business fund

A $250 billion urgent request to shore up a depleting small business fund failed to pass the Senate Thursday after Democrats objected to the measure pushed by the White House and Senate Majority Leader Mitch McConnell.

With lawmakers home and social distancing, McConnell sought to pass the cash infusion swiftly Thursday by unanimous consent with a skeleton group of senators, but Democrats blocked the effort because they want add-ons to help businesses in disadvantaged communities and additional funding for states and hospitals.

The extra funding is being sought amid concerns that the original $350 billion program to help businesses stay afloat during coronavirus pandemic could run dry in the near future in the face of an enormous demand.

McConnell pleaded with Democrats to pass a measure that would change the funding for the program from $350 billion to $600 billion total in a "clean" emergency measure.

"This does not have to be nor should it be contentious," McConnell said, saying lawmakers can always return to pass other legislation.

"To my Democratic colleagues, please do not block emergency aid you do not even oppose just because you want something more," McConnell pleaded.

But Democrats say they’ve got a better plan, and want additional provisions and protections to help businesses in disadvantaged communities. Their proposal would cost roughly double the Republicans’ and include additional funding for hospitals and local governments.

Democrats called McConnell's move a "political stunt" because McConnell knew his plan didn't have bipartisan support but put it forward anyway, knowing it would fail.

"I'm afraid that this unanimous consent is basically a political stunt because it will not address the immediate need of small businesses in the legislation that we have passed," Sen. Ben Cardin, D-Md., said.

Cardin and Sen. Chris Van Hollen, D-Md., objected McConnell's plan and the Majority Leader formally rejected their alternative in a brief Senate session Thursday morning.

House Speaker Nancy Pelosi Wednesday said the narrow McConnell plan couldn't pass the House by unanimous consent. Meanwhile, Kentucky GOP Rep. Thomas Massie, R-Ky., again threatened to block anything passing the House during the pandemic without lawmakers returning to Washington to vote in person.

The disarray at the Capitol leaves small business owners in the balance as Treasury Secretary Steven Mnuchin warns the popular program is on track to be depleted as struggling businesses rush to apply for aid.

The Paycheck Protection Program helps businesses with under 500 employees apply for loans up to cover eight weeks of their payroll, benefit and rent expenses.

The loans will be converted to grants and fully forgiven if 75 percent of the loan is used to keep employees on the payroll. The program was created as part of the $2.2 trillion CARES Act passed last month,

McConnell said at least $100 billion in loans for small businesses -- roughly 30 percent of the funds allocated -- has been approved under the program since it started accepting applications April 3, a source familiar said.

McConnell accused Democrats of trying to hold paychecks "hostage" and blasted them for trying to push programs that have "zero" chance of passing the House and Senate.

"The country cannot afford unnecessary wrangling or political maneuvering," McConnell said.



TAGS: Dems block McConnell bid to swiftly approve $250B more for small business fund


09 Apr 2020 22:50   |    103

Source: www.foxnews.com


He said: "O Adam! Tell them their natures." When he had told them, Allah said: "Did I not tell you that I know the secrets of heaven and earth, and I know what ye reveal and what ye conceal?" And behold, We said to the angels: "Bow down to Adam" and they bowed down. Not so Iblis: he refused and was haughty: he was of those who reject Faith. (The Cow   33-34 )


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