Dem. Senator Bucks Party, Calls to Pass Emergency Small Business Loan Funding ‘ASAP’
Senator Kyrsten Sinema (D., Ariz.) on Thursday called on the Senate to pass emergency funding for federal small business loans as soon as possible, bucking Democratic senators who are pushing for additional demands.
The Paycheck Protection Program “is going to run out of funding soon – the Senate should approve additional funding by unanimous consent ASAP,” Sinema wrote on Twitter on Thursday. “Small businesses need our help to survive during this emergency.”
The PPP, the emergency loan program established as part of Congress’s $2.2 trillion economic relief package, depleted the last of the $349 billion in loans allocated to help small businesses weather the coronavirus pandemic. Congress is deadlocked on additional funding for the program, with Democrats demanding specific protections for minority- and women-owned businesses, as well as hospitals and local governments. Republican senators have for the last week called on their colleagues to pass a blanket $251 billion addition by unanimous consent.
“Exactly right!” Senator Ted Cruz (R., Texas) replied to Sinema’s tweet. “Please tell Chuck Schumer to stop objecting.”
Majority Leader Schumer met with Treasury Secretary Steve Mnuchin on Wednesday to iron out disagreements, however a full agreement on legislation has not yet been reached. Congress is currently on recess and is not scheduled to return until May 4, so it is unclear when a vote will take place on additional PPP funding.
Senator Marco Rubio (R., Fla.) on Thursday criticized Democrats for the hold on funding.
“[Democrats] say they want more money for other things — I agree we need to do more for those other things,” Rubio said. “But why do we have to hold the most successful part of the CARES act, that’s helping millions of people, hostage?”
