The chamber's Democrats warned the measure did not do enough to help impacted workers and instead offered too much for company bailouts. House Speaker Nancy Pelosi had signaled she was not on board with the Republican version of the stimulus plan, saying: "But the tone on Capitol Hill wasn't totally negative after Senate Minority Leader Chuck Schumer, D-NY, said disagreements over the bill could be overcome in the next 24 hours.
"We are providing immediate loans to small businesses. We're working with the [Small Business Administration]. We're going to make sure that banks can immediately lend money ... as long as those companies hire back their workers or keep their workers," Mnuchin said Monday. "At the end of that period, we will forgive those loans entirely," he added. "We want to make sure that small businesses, which represent about 50% of the private economy, keep workers employed. So when the president is ready to open up this economy again and we've killed this virus, workers are in place. It's no fault of theirs: They're getting paid.
U did more than your job, why does this do nothing Congrees drag its feet with everything. They should be working on stimulus already. It is prudent to finally finance long term infrastructure projects at low interest rates, with a new 2to3 million people out of work!
Then get serious about making a deal that will win 60 votes in the Senate, Mr. Mnuchin. Knock it off with the proposals you know will not fly
Isn't it funny how the republicans need it done today...like their tax scam....had to be done for dems come back....and now....have to have it done for the people, when more money is given carte blanc to the corporations
No corporate money
Oh, really. We need to see Trump taxes and financials along with how much he has stolen from the people while doing his weekly golf excursions, TODAY!
Not being 'propped up at all costs'. What is the fed going to do next if all fails? Buy up corporate bonds and stocks via etfs? Let all of them crash and invisible hand of demand will push it back up to fair value again
And he is the one leading the infamous plunge protection team. Out he goes. We need a whole new regulation regarding federal reserve manipulations. Markets should be allowed to rally and crash. Both ways.
This guy should be sacked at all costs. Everyone, especially millennial and beyond are going to pay a heavy price. Welcome Hyper inflation and a stagnant economy. Because of these guys coming up with stupid ideas to prop up the markets and economy.
Given today latest news on the commercial MBS market close to near collapse, insurance market the space to watch (credit default swaps). If Capitol Hill can get the $2 trillion+ stimulus package passed, it should be a sufficient cushion to get America out the other-side.
Thank God the Fed stepped in while congress flounders and worries about looking bad...The FED should take over funding of the entire COVID19 relief effort. Cut politicians out!!
Washington right now fighting for a major emergency bill that ACTUALLY puts people first: a real medical surge& help for our economy & workers in despair. Our nation’s Governors have rightly called out this administration for its response. We can’t afford more of the same
In that case they won’t
Does it include hiding scump's tax returns forever?
You spelled last week wrong.
FirstSquawk Mnuchin is pathetic.
Guaranteed or end of economy!
Does it still have the 500 billion GOP slush fund for corporate America with no constraints and accountability? Then that’s a hard PASS!!🤬
TARP 2.0! DEMOCRATS BLOCK SENATE STIMULUS BILL AFTER NEGOTIATIONS FALTER Rand Paul out after testing positive, three other Republicans are under quarantined which reduced republican numbers allowing the democrats to block it.Stop Lying working family need it now not Corporation
Ok, so remove the MnuchinMoney and put PeopleOverCorporations
SELL. We will get a bounce due to Fed action to stop an all out liquidity crisis. Goldman Sachs had to shore up money market funds due to selling. We’re going down more. If you want to get out, get out NOW! It’s going to get ugly.
Munchkin is an EVIL POS. I don't trust him any further than I can throw him
Large scale businesses are being bailed out by the Fed who announced open-ended asset purchases and $300 billion lending program for businesses. Someone explain to me why they also should be included in the Congressional Bill?
TJ Help common Man Credit Card- Cars and Mortgage or Equity Loan payments Local property taxes should be waived for 6 months .Let FEDS pay directly to localities and banks. MacDonald's, Burger King Wendy's of the world to $1.00 Meals feed americans .FEDS Pays them
MadMoneyOnCNBC jimcramer Jim and Joe, please find out what the plan is regarding restaurant and hospitality as far as loans being forgiven when with current rules in place our wait staff has nothing to do. We have moved to a skeleton crew and are servicing to go, delivery and curb side
progresivetrend Ahh...more $$ for your billionaire buddies, aye stevenmnuchin1? Despicable are you.
FirstSquawk 😆 😂 😆
Aytu bioscience inc AYTU
NO SLUSH FUND! DEMS better not agree to any slush fund that will be used to bailout friends, family and trump by Mnuchin. Burn it all down before agreeing to that. HouseDemocrats
Pay day for billionaires for rest of us not so good
There already is a Fox Business channel. If you want to sway everything toward the Republican mantra then go to work there
rush to bailout
Jim and Joe, please find out what the plan is regarding restaurant and hospitality as far as loans being forgiven when with current rules in place our wait staff has nothing to do. We have moved to a skeleton crew and are servicing to go, delivery and curb side
payday for Mnuchin, rest of US screwed as usual
TeamPelosi doesn't want to help Americans but wants to keep abortion clinics open.
Great direct questions from Jim. Total generic rah rah from Mnuchin. No specifics. Sad.
I’m on day five trying to collect unemployment due to being laid off and all I get is a recording saying your claim is not payable at this time. All sites are closed, you can’t speak to an actual human being. Who’s going to help feed our families GovMurphy SenBooker
Oh yeah today he says. Just rush it though I need the money.
QE Infinity is a path towards a certain economic depression. There is no coming out of this, as its like a maze with no exit with US now inside it. US will go round and round in cyclical debt till a collapse occurs. Go to Gold, Bitcoin and Hard Assets. Stop listening to bullshit.
FirstSquawk Or what? Millions of people will die❓
translation: trump is soiling his depends until the slush fund bill is passed.
Or what? You lose your private jet.
FirstSquawk ZERO Corporate Bailouts until free guaranteed comprehensive medical and mental health care NO slush fund with ZERO oversight No bonuses for CEOs and shareholders Rent and mortgage freeze (on primary residences) Cancel student debt (and probably some amount of CC debt)
America is the new Venezuela 🇻🇪 realDonaldTrump federalreserve stevenmnuchin1
FirstSquawk Get that slush fund.
FirstSquawk
FirstSquawk
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