.
That concern is shared by the Federal Reserve, which warned Congress last week that small businesses may need more help even as the economy reopens amid “alarming” circumstances. “That may exactly be the vehicle,” Sen. Ron Johnson said in an interview. “But we can’t just re-up it. … We really do need to qualify these things and target them far better than we did initially.”According to an analysis published by the National Bureau of Economic Research, the number of working business owners — including small business owners — fell by 22 percent from February to April, in the largest drop on record.
Other factors have also been at play. Businesses without existing banking relationships were initially at a disadvantage in acquiring the loans, and there have been persistent worries about the complicated process for converting the loans into grants. And after it was revealed that big companies such as Shake Shack took the aid, the Trump administration discouraged applicants who already had ample financial resources.
Bipartisan support is growing to let businesses apply for second Paycheck Protection Program loans, recognizing that the restaurant and hospitality industries will struggle to bounce back even as social distancing measures are eased. This week Senate Small Business Chair Marco Rubio , a lead architect of the Paycheck Protection Program, said the next phase of assistance will be "very targeted" to ensure the businesses that need the most help can "survive and restart." Rubio has devoted attention to data indicating that black-owned and Hispanic-owned businesses have been more likely to go under.
Support Trump's looting the gov't you mean.
Before doing anything. Stop the BLM looters at night. Fund more the police to expand the areas to cover. Big City's nights are becoming a horror like Mad Max. Dem white kids have no ideas about that.
fantastic job from the president ...again and again. the us economy restart despite sick riots and sick behaviors concerning the covid. People who fighted and fight still for quarantine are simply criminals.
Я верю в лучшее
It’s not. Y’know why? Because Steve Mnuchin gave it to businesses that didn’t need it.
Looking forward to all the 'but what about the local businesses' people having the same level of outrage about this.
That’s because trump gave it away to his rich friends and most likely himself
We don’t know who exactly it all went to, but nevertheless it won’t be enough for the good *or* bad guys.
How can I get my hands on more? Rubio deep in thought.
Yeah no shit. Our bars and health clubs are just opening up and will need to operate with way less revenue to open safely with little relief on expenses. This isn’t sustainable because we will overrun the hospitals at this rate. If the stock market was down we’d get relief rn
Yea right now he's concerned. In 2015 he added a rider in tha ACA that caused premiums to skyrocket in 2016 and had the nerve to say he saved Americans money. That's the Republican logic people. Poke holes till it doesn't work then yell that it doesn't work anymore.
Shocker.
Corrupt players like money laundering Steven Mnuchin must be out of the loop. Delays of Justice have cascading effects. TheDemocrats
It's all make believe anyway.
So, who's gonna tell them?
Why o why can these people not apply their critical thinking skills to 40 million people being out of work thru no fault of their own? Do the GOP really think a one time $1200 check will see them thru the mtg or rent or food needs? marcorubio