Report: Pelosi Claims There’s ‘No Data’ to Prove Small Businesses Need Help
Here she goes again...
BY WAYNE DUPREE
APRIL 9, 2020
Nancy Pelosi has got some nerve.
Not only did she delay the COVID-19 relief bill a number of times, but now she’s working with Chuck Schumer to actually prevent U.S. small businesses from getting more aid.
That way it frees more money up for the Kennedy Center, right Pelosi?
Pelosi and Senate Minority Leader Chuck Schumer (D-NY) moved to block Senate Majority Leader Mitch McConnell (R-KY) from passing the emergency bill by unanimous consent on Thursday morning. McConnell had hoped that the need for assistance would be evident enough that he would not have to call Congress back from recess to vote on the measure, but Democrats disagreed.
McConnell was left incensed, noting that the $350 billion Paycheck Protection Program fund, which guarantees entrepreneurs with fewer than 500 employees low-interest loans that will be forgiven if they use the money to keep workers on the payroll, is “on track to be depleted by the end of this month.”
Treasury Secretary Steve Mnuchin reportedly told McConnell the funds are going fast and, according to Fast Company, some banks, including Wells Fargo, have actually reached their lending capacity after loaning out a shocking $10 billion in just the first week of the program — and Wells Fargo limited its loans to small businesses with 50 or fewer employees.
“Given the exceptionally high volume of requests we have already received, we will not be able to accept any additional requests for a loan through the Paycheck Protection Program,” the company said in a statement. “We will review all expressions of interest submitted by customers via our online form through April 5 and provide updates in the coming days.” [ Daily Wire]
So let me get this straight…
The Democrats will not only fight tooth and nail to secure funding for the “arts” and “women’s health,” but they’ll also use that same determination to remove funds from hardworking American’s pockets.
They should be ashamed of themselves.
This piece was written by Sophie O’Hara on April 9, 2020. It originally appeared in WayneDupree.com and is used by permission.
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Wayne Dupree
Wayne Dupree is owner and founder of WayneDupree.com. He was named to 2017 Newsmax’s 50 Most Influential African-American Republicans. He served in the USAF from 1987-1995; he saw time in Operation Desert Storm/Shield. The father of three, he's the host of "The Wayne Dupree Show." |
