Lawmakers in the US are very close to approving the idea of extra money for small businesses affected by the ongoing Corona pandemic. Senate Democratic leader Chuck Schumer hopes that an agreement with Republicans could be made and the decision could be sealed as early as Sunday evening.
However, there are some issues both sides need to knead too. US Treasury Secretary, Steve Mnuchin believes that three hundred billion dollars should be enough to help out the people with small businesses and that the funding for the states should not be included in the interim funding bill.
The US government has pledged three fifty billion dollars to Main Street businesses across America desperate for money in these extremely sensitive times of need. So now looking at where did the money reach; more than twenty five percentage of the total amount for relief has gone to fewer than two percentage of the firms.
Nancy Pelosi, speaker of the Democratic-controlled House of Representatives said, “We want to make sure that it’s reaching all of America’s small businesses,”. also wanted police and fire departments, health care workers, doctors, nurses and teachers to be compensated and not fired. Hence, they are asking for additional funding, so that more testing for COVID-19 can be done.
Democratic lawmakers from battleground districts are under attack by Republican campaign operatives because the emergency loans for small businesses have now dried up and this hints to an economic crisis.
Pelosi, however, said that there hopefully is an opportunity to get money for the hospitals, teachers, and firefighters in the interim funding bill. Congress plans to take up another major coronavirus relief legislation after the fund for small businesses is replenished.