Pelosi, Schumer to GOP: ‘Stop posturing’ on stalled coronavirus aid
“We have real problems facing this country, and it’s time for the Republicans to quit the political posturing by proposing bills they know will not pass either chamber and get serious and work with us towards a solution,” Schumer and Pelosi said in a joint statement on Monday.
“We will continue to seek a clean PPP funding increase. We hope our Democratic colleagues familiarize themselves with the facts and the data before the program runs dry,” they added.
“Small businesses, hospitals, frontline workers and state and local governments across the country are struggling to keep up with this national crisis. They need more help from the federal government and they need it fast. … While the Trump Administration struggles to figure out how to distribute the funds provided for in the CARES Act, it’s clear that those appropriated amounts will not be enough to cover the tremendous need,” Schumer and Pelosi said on Monday.
“Further changes must also be made to the SBA’s [Small Business Administration] assistance initiative, as many eligible small businesses continue to be excluded from the Paycheck Protection Program by big banks with significant lending capacity,” Pelosi and Schumer said, while agreeing that more money for the program is needed to “satisfy the hundreds of billions in oversubscribed demand.”
The stalemate between leadership in both parties comes as nearly half of the initial $350 billion has already been obligated. White House economic adviser Larry Kudlow, during an interview with Fox Business late last week, predicted that the initial funding for the program would run out on Friday.
“We all desire an end to the shutdown orders so we can get Americans back to work and back to normal,” they said. “However, there is still not enough testing available to realistically allow that to happen.”
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
