"An important part of the solution to moving that needle was going to be working with JPM and working with BofA to help make sure they were getting the support they needed to drive those priorities," the official told CNBC. "These are just going to be huge players in the PPP in terms of delivering on those goals just precisely because of the scale that they bring."A representative from J.P. Morgan didn't immediately respond to CNBC's request for comment.
And while a majority of small businesses support the administration's infrastructure plan, according to the latest CNBC/SurveyMonkey poll, 59% don't believe the corporate tax rate should be raised to pay for it. "Recognizing that reaching low- and moderate-income communities, reaching sole proprietors, which are disproportionately in communities of color – this was about the survival for a lot of these businesses," Michael Pyle, Harris' chief economic advisor, told CNBC.
Already, Biden has asked Harris to oversee diplomatic outreach surrounding the surge in border crossings and the quest for universal broadband. Pyle said that Harris' focus on small businesses and lenders dates back to before she even took office: She helped secure $12 billion for community development financial institutions in the Covid relief package during negotiations with Republicans in December.
On top of the border crisis and space policy? Egads!