US Treasury Secretary Steven Mnuchin said he’s asking the Congress to “secure an additional $250 billion for the PPPLoan program to make sure small businesses get the money the need.” The funding would be on top of the USD 349B in forgivable loans to small businesses enacted on March 27.
Mnuchin also told bank CEOs that “we want to make sure that every single small business can participate. We want to assure the workers that if you don’t get the loan this week, there will be plenty of money for you next week,”
Separately, Senate Majority Leader Mitch McConnell said “It is quickly becoming clear that Congress will need to provide more funding or this crucial program may run dry.” He’s targeting to get Senate to vote on the measure on Thursday.
Senate Small Business Committee Chairman Marco Rubio said, “there is a critical need to supplement the (loan) fund to ensure America’s more than 30 million small businesses will be able to access this critical lifeline.”
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