Speaker of the House Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) issued a joint warning to Republican legislators to “stop posturing” on coronavirus relief measures, even though Democrats have stalled a much-needed influx of cash for the Paycheck Protection Program (PPP) over demands for diversity programs and targeted handouts.
The pair of Democrat leaders issued a joint statement Monday excoriating Republicans for holding up much-needed relief funds and demanding that the GOP come to the bargaining table on so-called “interim” assistance measure rather than focusing on a clean PPP bill.
“We have real problems facing this country, and it’s time for the Republicans to quit the political posturing by proposing bills they know will not pass either chamber and get serious and work with us towards a solution,” Pelosi and Schumer said, per the Hill.
The disagreement stems directly from the PPP add-on bill, which would inject an additional $250 billion into the $350 billion program designed to provide low- and diminishing-interest loans to businesses with less than 500 employees affected by coronavirus-related lockdowns. Even though the program has been in operation just over a week, banks like JP Morgan Chase and Wells Fargo report that they’re out of funds and have already closed their application windows. – READ MORE
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