Congressional Democrats voiced Wednesday their support for an interim coronavirus relief package proposed by Republicans to help fund small businesses, but are also demanding more action be included in the bill.
‘The heartbreaking acceleration of the coronavirus crisis demands bold, urgent and ongoing action from Congress to protect Americans’ lives and livelihoods,’ House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said in a joint statement released Wednesday morning.
‘As Democrats have said since Day One, Congress must provide additional relief for small businesses and families, building on the strong down-payment made in the bipartisan CARES Act,’ it continued, then detailing what they expect to be included in whatever package gets passed.
Senate Majority Leader Mitch McConnell signaled this week that he wants to have another round of small business bailouts on the Senate floor by Thursday in an expansion of the Paycheck Protection Program.
House Speaker Nancy Pelosi (left) and Senate Minority Leader Chuck Schumer (right) are in favor of passing a coronavirus interim relief bill with $250 billion more for small businesses
Senate Majority Leader Mitch McConnell proposed expanding the Paycheck Protection Program as funds from the first round dried up within days of the application process opening last week
Democrats, however, also want to add more stipulations to the package – including $100 billion for hospitals and healthcare centers, including the increased production and distribution of personal protective equipment
The Democrat-proposed package would also include $150 billion for state and local governments to help families who lost their income. Here a massive line formed in Florida on Tuesday for people to receive their unemployment benefits as the number of claims skyrocketed by millions in the last few weeks
‘It is quickly becoming clear that Congress will need to provide more funding or this crucial program may run dry. That cannot happen,’ McConnell said in a statement Tuesday.
The Kentucky Republican said in the statement that he was working with Schumer and Treasury Secretary Steven Mnuchin to deliver the additional $251 billion in relief for small businesses before the end of this week.
Schumer did not immediately respond to whether he was in favor of the proposal, sparking concern considering the package will originate in his chamber.
After House Democrats all signaled their support, Schumer and Pelosi released their statement early Wednesday morning.
The Democrats, however, want that interim relief to also include billions more for health care centers and production to support those facilities and more assistance for individuals who have lost their job and have to file for unemployment or food stamps.
In their statement, the Democratic leaders said they are demanding $100 billion for hospitals, including the production and distribution of additional personal protective equipment (PPE).
They also want $150 billion for state and local governments to help address issues brought up in American families by losing their income – as well as a ’15 per cent increase to the maximum SNAP benefit to help put food on the table.’
The Paycheck Protection Program, which is the main point the GOP proposed the interim package, aims to help small businesses ensure their employees receive paychecks and that their businesses stay open in the wake of the pandemic.
It was originally passed in an economic stimulus bill last month with $350 billion.
‘The small-business Paycheck Protection Program needs more funding,’ McConnell asserted in his statement. ‘Congress needs to act with speed and total focus to provide more money for this uncontroversial bipartisan program.’
McConnell is aiming to get the measure passed with a voice call vote on the Senate floor Thursday.
Lenders have been flooded with applications for funding since the Paycheck Protection Program launched Friday, and the funds included in the CARES Act, which was signed into law last month, are already drying up.
The loans are capped at a maximum of $10 million for businesses with fewer than 500 employees and lawmakers hope that it will cover about two months of essential costs – like paying rent and keeping employees on the payroll.
The program ensures that the government will forgive the loans if businesses don’t lay off their workers.
Schumer, along with a group of Senate Democrats, did not say whether they would block the request for more money for small businesses to ensure some of their priorities are included in the next aid package.
The Democratic leader said during a call with reporters Tuesday that ‘one of our very highest priorities’ is raising compensation for essential workers, including health-care workers, grocery clerks, transit employees and other essential workers.
He now admits that will be the next priority after the interim bill is passed.
Schumer and Pelosi say after the emergency legislation is through, they will move on to expanding the CARES Act, which was signed last month by Donald Trump – and includes a provision that will send checks directly to American individuals and families.
‘After we pass this interim emergency legislation, Congress will move to pass a CARES 2 Act that will extend and expand the bipartisan CARES Act to meet the needs of the American people,’ the Democrats’ statement reads.