Senate Republicans are working hard to fund an emergency small-business relief package that will help save entrepreneurs all across the country from losing their businesses to the coronavirus pandemic and cost the economy millions of jobs. Under the guidance of Senate Majority Leader Mitch McConnell and Treasury Secretary Steven Mnuchin, Republicans put forth a bill on Thursday that would have quickly replenished the aid program with an additional $250 billion in federal funding.
Unfortunately, because they want to push through a $500 billion measure of their own device, Democrats put the kibosh on the bill.
“The Democratic leadership has suggested they may hold Americans’ paychecks hostage unless we pass another sweeping bill that spends a half a trillion dollars doubling down on a number of parts of the CARES Act, including parts that haven’t even started to work yet,” McConnell said in a scathing statement. “The country cannot afford more wrangling or political maneuvering. There is zero chance the sprawling proposal Democrats have gestured toward could pass either chamber by unanimous consent this week. No chance.”
Democrats are whining because the bill doesn’t provide enough funding for hospitals and state governments, and they are sore because the Treasury Department won’t set aside half of the funding for groups like small credit unions and “minority depository institutions.” Of larger concern, no doubt, is the fact that the bill does not increase food stamp benefits or waive work requirements for those on federal welfare.
Democrat leaders have acknowledged the need to replenish the loan program, which forgives up to 75% of federal funding for businesses that retain their employees. But instead of just waiting for the next bill stimulus bill to start pushing some of their pet projects, they’re choosing to imperil these small business owners who don’t give a damn about the petty fights of our Washington elite.
“In a joint statement on Wednesday, the Democratic leaders said they supported the administration’s request for an additional $250 billion for the loan program. But they said $125 billion of that should be directed to underserved businesses that might otherwise have trouble securing loans, including those that are owned by women, people of color and veterans, or situated in rural areas,” reports The New York Times.
Huh? Why would women, people of color, and veterans automatically have a harder time securing loans for their existing small businesses? The Democrats just pull these imaginary instances of oppression out of their Identity Politics Box and then they hijack the government with this nonsense. This looks a lot more like building up a resume for campaigning in the fall than it does getting help for the American people.
Stop with the games and get to work.