Democrats Throw a Wrench into Paycheck Protection Expansion
Lawmakers are struggling to compromise on legislation designed to help small businesses stay afloat during the coronavirus shutdown.
Republicans want to add $250 billion to the Paycheck Protection Program, which offers small businesses up to $10 million in grants and loans if they continue to pay their employees.
The current $350 billion fund could run dry within the week, warns Senate Majority Leader Mitch McConnell.
“I’m literally talking about deleting the number ‘350’ and writing ‘600’ in its place,” said McConnell on Thursday as he sought to pass the legislation through unanimous agreement. “Do not block emergency aid you do not oppose just because you want something more.”
Senate Democrats blocked the proposal later that day because it failed to include money for hospitals, minorities, and food stamps.
Democrats wanted to add $100 billion for hospitals, $150 billion to help state and local governments, and a 15% increase in food stamp benefits. They also wanted to ensure that half of the $250 billion be reserved for minority-owned businesses and nonprofits.
Democrats will have the chance to pursue these goals when they negotiate a fourth stimulus package, said President Trump.
“We should have a big Infrastructure Phase Four with Payroll Tax Cuts & more,” tweeted Trump. “Big Economic Bounceback!”
Trump also urged lawmakers to “go back to DEDUCTIBILITY by businesses if restaurants, clubs, and entertainment is expected to flourish.” (He is referring to a prior law that allowed companies to deduct meal and entertainment expenses from their taxes.)
On a brighter note, the $1,200 direct payments to Americans included in already-signed legislation are set to begin next week.
Author’s Note: Again, we are seeing Democrats put their political values above the needs of the American people. Democrats want to help small businesses, but only if Republicans agree to add extra provisions. This is selfishness on an unbelievable scale, especially considering the Dems will have the chance to pass the legislation they want within the coming weeks.
Hey Seriously controlled by GEORGE SOROS, NANCY PELOSI, is squeezed to the point she cannot walk back to sane and just reasoning. She has to promote completely insane unnecessary programs. Desperate to try and find a way to open avenues for fraud in the 2020 Election knowing the idiotic ideas will not pass, she’s insisting they be included in Small Business protection bill! Get her the hell out and get a real American loving Speaker. Give America truth & Justice!
That’s insane, our country is on the verge of going broke and they want more! What are they thinking? China is going to want payment. How long before they come for payment and at what cost? Property, homes or War. Who really knows? At the least, it going to be a lot!
Small Business is the tool to bring back our economy quickest. Democrats are playing a game to slow down the economy to hurt Trump politically! It looks like Democrats are looking after everyone, but in reality, that would hurt the economy. The programs they are talking about need help too, but we need to boost the economy first and that means boosting small businesses at a premium. Schumer and Pelosi are just wanting to hurt Trump and could care less about America! This is not the time for Democrats to play games! Boost small businesses and our economy will roll. We the People, have to stand up against their socialist agenda and bring jobs back. We must maximize our help to bring back jobs first or Continue to slide. Democrats want us to slide into socialism! Stop them with the vote!
San Francisco, look at what your Nancy Pelosi is doing to our country. If you have any common since you need to get rid of her as soon as possible.
Hay, residents of New York State, look at what your Chuck E. Schumer is doing to the Country as he tag teams with Nancy Pelosi. Those two could care less about anybody except their political selves and staying in office to continue to rape us. You need to get some NY common since and get rid of him as son as possible. If you enjoy the staggering loss of life, if you like the lock downs, if you like the high taxes, if you like the high crime rates, if you like what is now going on in your State of NY, then by all means blindly vote for Schumer, but if you want change then change your Senators as Schumer will never change.