Posted on 04/24/2020 9:59:47 AM PDT by Nero Germanicus
President Trump on Friday signed legislation providing $484 billion to replenish a popular small business lending program and support hospitals and COVID-19 testing amid the coronavirus pandemic.
The measure includes an additional $310 billion in funding for the Paycheck Protection Program (PPP), $60 billion of which is reserved for community banks and small lenders; $75 billion for hospitals; $25 billion to support testing efforts; and $60 billion for emergency disaster loans and grants.
Trump signed the legislative package during an Oval Office ceremony.
The legislation came out of several days of negotiations between Treasury Secretary Steven Mnuchin and congressional Democrats. The Senate passed the bill in a voice vote on Tuesday, with the House following suit on Thursday in a 388-5-1 vote that saw lawmakers wearing masks and voting in groups after Republicans demanded a floor vote.
Trump had urged Congress to swiftly pass legislation replenishing funds for the PPP, which ran out of money last week in the absence of a deal on additional funding. Negotiators wrangled over several days to hash out a deal, reaching one Tuesday that the Senate approved hours later.
Democrats successfully pushed for more funding for hospitals and testing, but the final package did not include additional funding they sought to help states combat the novel coronavirus outbreak.
The PPP, established by the $2.2 trillion CARES Act that Trump signed into law on March 27, is designed to help small businesses hurt by the coronavirus, which has forced establishments across the country to close, leading to massive layoffs.
(Excerpt) Read more at thehill.com ...
“$60 billion of which is reserved for community banks ...”
We know what this means, more payouts to Mad Maxine Waters and her filthy corrupt ghetto friends.
They have left the decisions up to those good, loyal, conservative Americans known as The Bankers. /s
Sounds good but that is simply not possible as the numbers are just too large. When you hand out a couple hundred million thats one thing. When you hand out four hundred and eighty four thousand million, no accounting firm in the world could keep track of it. You are talking about figures so large a couple hundred million becomes an undetectable rounding error. Like it or not fraudsters are going to have a field day and many an evil deed will bankrolled.
Dems should start wearing gray Nehru collar jackets and pants with cloth shoes. They speak and vote in total uniformity as much as the Chinese Communists.
Did your son get a SBA disaster loan or PPP? Your son needs to be very careful if its PPP. You attest that you need the money and you will use it only to pay your employees, a small portion for rent and utilities.
So what you’re saying is that the Trump administration is incapable of good administrative oversight. That is Pelosi’s position and why she wants another layer of bureaucracy provided by congressional oversight.
The defense budget is $705 billion. Are there isolated incidents of waste and fraud? Yes. Is there massive waste and fraud? No.
You are absolutely correct. There are very strict stipulations.
You sure that’s not Keyanesians? ;)
No what Im saying is no administration is capable of oversight when you are talking about nearly a trillion dollars. Its just not possible to fully vet that many avenues. The defense budget is a lot more controlled as you have far fewer hands in the cookie jar and those hands are known actors.
Pelosi wants more oversight so she can direct funds where she wants as well as hide where those funds are going when need be. Her demand has nothing to do with making sure the taxpayers money is used wisely.
Kenyanesians
Messed up my own joke :(
It will do some good but the harm will outweigh it. The Congress knows this. There really is no accountability and actually is increasing unemployment numbers.
You don't know how veto overrides work, do you? If President Trump had wanted to veto the bill, and every Democrat in both houses voted to override, the veto would stand unless 14 Republican senators and 58 Republican representatives voted with them.
so you’re bragging that your son abused OUR TAXES to pay HIS OWN DEBT early
that’s kind of disgusting
Nope. I’m bragging that he got some of the money back that the government stole from him. Not all, just some.
I love it when ANYBODY is able to do that.
Translation: Big Cities get paid to pump up those Wuhan Virus numbers.
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