Pelosi admits delaying funds for coronavirus-linked small business loans
House Speaker Nancy Pelosi admitted to delaying approval of an additional $ 250 billion for the small business loan fund depleted, following criticism of Congress’ lack of progress.
Talk to CNN’s Anderson Cooper On Monday evening, Pelosi (D-Calif.) Said that after being asked by Treasury Secretary Steven Mnuchin in Congress to approve $ 250 billion to replenish the paycheck protection program, she asked for “data on the way that [money] Is spent. “
“Before you know it, boom, all of a sudden, [the small-business relief fund] were already strapped for cash. And when the secretary came over and asked me for $ 250 billion, a quarter of a trillion dollars, in 24 hours, I said, well, we want to see the data on how it’s spent.
“Also, we want to make sure that we are – as long as we go to the room, that we do it in a way that everyone can participate in the program,” the California Democrat said.
Pelosi continued that initially Republicans she was negotiating with “said no no no, until about 100 hours ago they said no. And now they have said yes.
As for what the nation’s elected chief democrat was added to the new bill, Pelosi touted “about $ 120 billion more for small business and the like.
Pelosi added that Democrats had also requested $ 100 billion in spending on health-related issues, including $ 75 billion for hospitals and $ 25 billion for testing, which she said was essential for the reopening of the economy.
“Testing is one of the places where we want the language to be as good as we can agree, that we need a national strategy for testing,” she told Cooper. “Testing is the key that opens the door to our economy – testing, tracing and isolation.”
Senate Minority Leader Chuck Schumer (D-NY) on Sunday also hit back at critics that Democrats were delaying the next round of funds, touting the provisions they added to the bill would provide aid to rural areas and minority communities.
“Well, I would say the very things that we Democrats are fighting for are now getting into the bill. If you had a connection with a bank, it was quite easy to get a loan. If you haven’t, across the country we’ve heard that people can’t get loans. The local restaurant, the local barber shop, the local drugstore – or even the startups, manufacturing or… services that don’t happen, ”the New York Democrat “State of the Union” told CNN.
“We Democrats said, ‘Yes, we want to invest more money [for small-business financial relief], but let’s set some money aside to make sure it goes to rural areas, to minority areas, to the unbanked. And the $ 60 billion for the disaster loan was [Democrats’] proposal, and now the [Trump] the administration rallied to it. “