Moments ago, Senate Majority leader Mitch McConnell tweeted:
Senate Democrats just blocked urgent money for a popular, bipartisan job-saving program which they themselves literally coauthored with us two weeks ago.
I complimented both sides and asked to increase the dollar amount without changing anything else. But they blocked it
Senate Democrats just blocked urgent money for a popular, bipartisan job-saving program which they themselves literally coauthored with us two weeks ago. I complimented both sides and asked to increase the dollar amount without changing anything else. But they blocked it. https://t.co/kihn5p6rLa
— Leader McConnell (@senatemajldr) April 9, 2020
Yahoo reports Senate Democrats on Thursday stalled President Donald Trump’s request for $250 billion to supplement a “paycheck protection” program for businesses crippled by the coronavirus outbreak, demanding protections for minority-owned businesses and money for health care providers and state and local governments.
They sidetracked a request by Majority Leader Mitch McConnell, R-Ky., to give the unanimous consent necessary to fast-track Trump’s request.
“We need more funding and we need it fast,” McConnell said as he opened the Senate, assuring them there would be future bills to deal with other issues.
Democrats’ demands sparked a spirited response from McConnell, who implored them not to block “emergency aid you do not even oppose just because you want something more.”
Tuesday, Wapo reported Treasury Secretary Steven Mnuchin on Tuesday asked congressional leaders to swiftly commit an additional $250 billion to replenish the new $349 billion small-business coronavirus program that is being overwhelmed by surging demand.
President Trump said banks have processed $70 billion in taxpayer-backed loans for 250,000 small businesses since Friday, as companies seek emergency help to deal with the enormous business disruption caused by the pandemic.
He did not say, though, how many of those loans have been approved or how many firms have received any of the money. And his data suggests the program has reached a small fraction of U.S. companies: There are 30 million small businesses in the United States that employ 60 million people.
“We’ll be running out of money pretty quickly, which is a good thing in this case, not a bad thing,” Trump told reporters.