Sen. Schumer speaks out on striking potential agreement on additional small business relief
FILE – In this March 20, 2020, file photo Senate Minority Leader Sen. Chuck Schumer of N.Y., speaks to reporters as he arrives for a meeting to discuss the coronavirus relief bill on Capitol Hill Washington. (AP Photo/Andrew Harnik, File)
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UPDATED 11:43 AM PT — Sunday, April 19, 2020
Congress and the White House are nearing an agreement to get more funding for small businesses impacted by the coronavirus pandemic. On Sunday, Sen. Chuck Schumer (D-N.Y.) announced he and his fellow colleagues could come to an agreement on the Paycheck Protection Program as early as Sunday or Monday.
The $350 billion in funding for the program, which was approved in last month’s stimulus bill, ran out last week.
The senator has said he’s pushing for more funding to become available for businesses in rural areas and minority communities, who have had a particularly hard time securing loans.
“We’ve made very good progress and I’m hopeful we could come to an agreement tonight or early tomorrow morning. You know you’ve got to look at a lot of details, …but I am very, very hopeful. As you’ve heard, many of the things we have asked for – on the banking side, on the testing side, on the hospital side – they’re going along with, so we feel pretty good.” – Chuck Schumer, U.S. Senator
“I’m very hopeful we could come to an agreement tonight or early tomorrow morning,” Sen. Chuck Schumer says about talks with Treasury Secretary Steven Mnuchin to funnel more money into the Small Business Administration’s Paycheck Protection Program #CNNSOTU pic.twitter.com/3SjJscjA6x
— State of the Union (@CNNSotu) April 19, 2020
Sen. Schumer and other congressional leaders have been working closely with Treasury Secretary Steven Mnuchin to find a consensus on additional small business relief.
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