Pelosi/Schumer may stymie Paycheck Protection Program expansion over unrelated new spending demands
A replay of how Pelosi and Schumer held the original rescue package hostage.
A key part of the $2 trillion rescue package was $350 million allocated towards loans to small businesses. Those Paycheck Protection Progream loans would be forgivable (becoming a grant) if the small business used the money to avoid layoffs or to recall previously laid-off employees.
The Paycheck Protection Program thus serves as a pass-through to workers, who get to keep their jobs and get paid during this transition period.
There have been complaints that the funds are not getting into the hands of small businesses fast enough, but the application numbers have been overwhelming. So much so that Trump has made clear that if the Paycheck Protection Program runs out of funds, he will immediately request additional funding for that program.
And so it is happening, with Senate Republicans moving towards a vote on Thursday to expand funding for the paycheck protection program.
But in a reprise of the demands that almost sank the original recue package, Nance Pelosi and Chuck Schumer are demaning funding unrelated to the paycheck protection program in order to allow an expansion of the program.
Politico reports:
Democratic leaders on Wednesday released their own set of demands for an “interim” coronavirus relief package poised to move through Congress this week, setting up a clash with congressional Republicans that threatens to stall the next installment of relief for the economy.
The early morning statement from Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.) asking for $250 billion in aid for hospitals and state and local governments plus the $250 billion desired by the Trump administration and Senate Republicans shows that the quick GOP push may be a messy affair.
The Senate Republican majority is planning to try and quickly approve the small business funds on Thursday to replenish the dwindling $350 billion Paycheck Protection Program. Sen. Marco Rubio (R-Fla.) said Senate Majority Leader Mitch McConnell has asked all 100 senators to signal whether they would object to a quarter trillion more money for small businesses by noon on Wednesday.
But Democrats say that’s not enough on its own….
Pelosi and Schumer said Wednesday they would agree to the GOP request if certain conditions are met, such as ensuring half of the small business funding flows through “community-based” banks that serve women and minority-owned businesses. The two top Democrats want an additional $100 billion for hospitals and health centers as medical providers across the country are still struggling to secure enough personal protective equipment to safely treat the influx of coronavirus patients.
Democrats also want $150 billion in additional funding for state and local governments to fight the pandemic and an increase in the amount of federal food aid families can claim during this emergency.
This is the sort of thing that pissed people off the first time Pelosi/Schumer pulled this. The Paycheck Protection Program already was passed, it’s already law, why not just increase funding if needed. If there are other unrelated needs, such as increasing aid to states and hospitals (which already received a lot of money in the last bill), those can be addressed without hostage taking.
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Comments
If they do this Trump will say, “Go ahead, make my day”!
Yes!!!!!
Stick a fork in DEM cause they are done!!!!
Do these horrible people think they are beyond reprisal?
Yes, they’re in safe seats. It blinds them to damage in contestable districts/states
The homeless do not vote so Pelosi is safe.
Who will make a move against them?
The only thing leftists ever bring to the bargaining table is appetite.
Yes, and they are.
Democrats doing what the do best Instigate and Investigate. They care about power not people.
If only the Republicans had the spine…. We don’t need anymore empty grandstanding by McConnell, Graham and the rest. Do something!!! It’s YOUR Senate! Why is Pelosi allowed to get away with this?
Because the Republican politicians are, generally, castrati.
Despicable, as always. Insanity defined.
This isn’t a time for Santa Claus. If you can help the people you and those losers the 4 horse faces need to step down.
they should just go back and do what they do best, naming post offices and government buildings
PDJT should IMO agree with some caveats;
1. Hospital funding additional $100 Billion – too easy add it in but divide by:
A. Congressional district
B. Hospital beds # used for corona 50% /total beds /50%
2. Funding through community banks – OK but instead of routing half of the $250 Billion asked, add an additional $150 Billion for a separate lending window to those institutions and if funds not lent by May 15 that funding moves to original window. All of this needs vigorous review in the aftermath.
3. Additional $150 Billion for state and local government, done. In fact provide 1/2 $Billion per congressional district to be divided by unincorporated county 35% / incorporated municipal areas 65%
My suggestion would be to add the following employers of less than 500 receive a employer and employee cut to zero for social security. This will help to overcome the flaws in the incentives to collect unemployment benefits with a $600 federal enhancement.
EXPOSE these frauds.
The administration and Senate are putting forwarda bill sustaing one kind of help, that seems to be helping.
Why don’t Chuck-y n San Fran Nan put forward a bill with their ideas, or better a bunch of bills with one program each. Speaker Pelosi controls the House agenda, and all the committee leadership. Getting a bill drafted and to the floor ought to be pretty easy.
Then we see what has support and not. Also, we stand a chance of seeing what each program does on its own. Seems like a win?
Oh, that’s flat out extortion.
I do wonder, what with The God Emperor being the unavoidable spectacle of The Empire, why not just put little, crisp bills out through the Senate, exactly in line with the administration. Led the Screaming D’s shoot them down; amend them to death, decline to take them up, etc.
Little, one-issue bills would make “You gotta give us this, to get that.” pretty clear. Shine a light on the extortion.
Not sure what Frick & Frack intend to accomplish by routing money through community banks, buy from what I hear the last thing banks actually want is to have to deal with these loans. Of course, they must, since they are fully federally guaranteed with no risk to the banks, and it would be political suicide to refuse, but these loans do handcuff the banks in terms of liquidity. The soundbite sounds good, regardless.
The reason Dems want all this colossal and unrelated spending added on to the package that the Republicans are proposing is entirely political. Republicans who feel the unrelated spending (also known as a Democratic agenda wish list) is a deal-breaker will surely be the target of feigned outrage by the Democrats and their cohorts in the media (“How dare you vote against this life-saving spending which will help the many millions of Americans who are suffering like never before? How cruel can you be?”). Republicans who vote in favor of the bill in spite of all the unrelated spending will see the Democratic agenda advanced (and funded), which will undoubtedly be to the detriment of the Republicans.
It is time to shut down these traitors.
D’s are so accustomed to doing this that they can’t help themselves.
They seem oblivious to the fact that literally EVERYONE is watching their every move right now. This affects everyone, we’ve all got nothing better to do, and social media is covering it all in minute detail.
The last round, with D’s playing politics to get their ideological agenda stuffed in the bailout: Unbelievable what I was seeing on Facebook from friends that generally are not political at all.
Its not just D’s committing electoral suicide for the upcoming election – the real damage they are doing to themselves is the IMAGE they are painting of what their Party is all about.
McConnell simply shouldn’t play the game that Pelosi and Schumer want to play. He should tell them that when they want to seriously consider further legislation they can get back to him. But until them he’s got other items to deal with on the agenda to deal with. Like Trump’s recent judicial nominations. Then McConnell should simply walk away. No “negotiations”. No “compromises”. Just walk away.
How many folks in Congress, in the White House, in the agencies have foregone their salaries during this? How far does their sympathy and ‘solidarity with the working class’ extend?
How about just letting businesses open up again? Then they wouldn’t have to worry about this stuff.
Trump “Trumped” the Dem House this morning by having the Federal reserve go over them. Looking for signs of tread marks on Pelosi’s and Shumer’s foreheads.
PORKY PELOSI and her Chuckles lover are pawns of Putin and other anti-Americans