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Resistance See other Resistance Articles Title: Schumer: Paycheck Protection Program delayed to get loans for minority groups and rural areas Schumer: Paycheck Protection Program delayed to get loans for minority groups and rural areas by Emma Colton | April 20, 2020 02:25 PM Senate Minority Leader Chuck Schumer touted how minority communities and rural areas will receive aid via provisions added to the Paycheck Protection Program in response to a claim that Democrats are holding up funding for small businesses. Schumer joined CNN’s State of the Union on Sunday and responded to a statement from the former administrator of the Small Business Administration, Karen Mills, who said: “Complexity is not our friend here … things that have to be implemented quickly can’t have a lot of bells and whistles or else there will be too many unintended consequences — one of which is delay. And we don’t have time for delay.” Schumer responded: “Well, I'd actually say the very things that we Democrats have been fighting for are now going into the bill. If you had a connection with a bank, it was pretty easy to get a loan. If you didn’t, from one end of the country to the other, we have been hearing that people can’t get the loans. The local restaurant, the local barbershop, the local drug store, or even startup businesses, manufacturing, or … services that aren’t happening.” “So we Democrats said, ‘Yes, we want to put more money in [for small business financial relief], but let’s set aside some money to make sure it goes to the rural areas, to the minority areas, to the unbanked.' And the $60 billion for the disaster loan was our proposal, and now the [Trump] administration is going along with that,” he added. The PPP was established as part of the $2.3 trillion CARES Act created to offset the economic consequences of COVID-19, but it ran dry of funds last week. Republicans, including House Minority Leader Kevin McCarthy, claim Democrats are to blame for the holdup on getting additional funds to small businesses. “Name me one productive thing Speaker Pelosi has accomplished in this pandemic,” McCarthy said Monday on Fox & Friends. “When President Trump on Jan. 31 put in the ban from China, Feb. 24, she asked people to gather together in San Francisco. She actually fought the ban. When we wanted to put the CARES Act together, she came in, held it up. Now we had a small business program working. She’s now held up the money.” Poster Comment: Video at source. Post Comment Private Reply Ignore Thread
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