The Trump administration on Tuesday asked Congress for an additional US$250 billion in emergency economic aid for small U.S. businesses reeling from the coronavirus pandemic, as Senate Majority Leader Mitch McConnell pushed for passage as soon as Thursday.
Shortly before Mnuchin's announcement, McConnell, a Republican, said in a statement:"It is quickly becoming clear that Congress will need to provide more funding or this crucial program may run dry." Action this week by the Senate would highlight the depth of the crisis for small enterprises that have been shuttered because of the coronavirus outbreak.
"There is a critical need to supplement the fund to ensure America’s more than 30 million small businesses will be able to access this critical lifeline," Senate Small Business Committee Chairman Marco Rubio said in a statement. Pelosi on Monday consulted with rank-and-file members of her Democratic majority about House committees working on a bill that could top US$1 trillion to augment the US$2.3 trillion measure enacted last month.
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