Trump says U.S. death toll could reach 100,000
“It’s a huge, huge package – let’s see how it goes as we gradually reopen the economy,” he said. The funds are already exhausted. More than $ 175 billion in loans allocated to a small business support program in the latest aid package have been granted, Treasury Secretary Steven Mnuchin and Small Business Administration chief Jovita Carranza said on Sunday in a statement. This is the second round of the loan program, and over $ 310 billion has been set aside this time. Loans can be canceled if a significant portion of the funds are used to cover salary costs.
The program has been criticized for providing money to large, publicly traded companies while Main Street companies struggle to access it. A number of these companies, such as Ashford Inc., which oversees a group of closely interwoven hotels and resorts that includes Ritz-Carltons, have committed to repay their loans amid increasing surveillance.
Mr. Mnuchin and Ms. Carranza said on Sunday that the average loan size for the second round of financing was $ 79,000, well below the average of $ 206,000 for the first round.
So far, companies in California, New York and Texas have received more funding than any other state through two rounds of the program, according to the SBA. of the new round, although he disclosed the breakdowns of the first round.
With dozens of businesses struggling to stay afloat and millions of workers losing their jobs every week, congressional leaders are fiercely contesting what should be included in the next economic aid bill. Democrats said it must include help for struggling states and municipalities, but Republicans have resisted, especially in the Senate. Proposals to protect employers from liability if their workers contract the virus when the economy reopens have also proved controversial.
The Republican-led Senate is expected to meet again on Monday, but the Democratic-led House, which opposes such a shield, has scrapped similar plans to return to Washington after seeing the Congressional attending physician.
Mr Kudlow on Sunday reiterated Mr Trump’s earlier comments that any future aid package could include funding restrictions for states that allow ‘sanctuary cities’ – areas that prevent local law enforcement to cooperate with immigration authorities.