The challenge of implementing the small business loan program surfaced vividly last week, when the Small Business Administration delivered guidelines to banks just hours before they were due to turn on the spigot. As of Wednesday, banks said they still lacked critical information needed to close out loans and that SBA's loan authorization system continued to malfunction.
Meanwhile, the IRS is still figuring out how to quickly parcel out the cash payments the new law promised to individuals and families across the country. The agency intends to deliver as many as possible via direct deposit, which would expedite those payments. But for many low-income Americans who don't file tax returns, the IRS would likely not have direct deposit info.
The law also includes another $29 billion in loans for airlines, part of the Treasury's $500 billion economic rescue fund. There's no deadline or timeframe for those funds to begin flowing, but there's no indication that any have moved yet. As of Monday, Treasury wasn't accepting applications for the loans.
Congress puts $ 2 Trillion in Trump's tiny hands. And the guy who should overview the spending is the first to be fired. Any second thoughts anybody?
We have watched Trump roll out policy at press conferences with absolutely no guidelines or structure. His screwed up travel ban is a classic example of Trump's incompetence.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump removes independent watchdog for coronavirus funds, upending oversight panelThe move comes as Trump makes a broad push against inspectors general scrutinizing his actions. There is no end. There he goes again 🤷🏼♂️ DonTheCon GrifterInChief The dismantling of checks and balances in any democracy is the goal of any tyrant. i.e.; Hitler, Mussolini, Stalin, etc... realDonaldTrump
Source: YahooNews - 🏆 380. / 59 Read more »
In Another Pushback Against Oversight, Trump Removes Pandemic Inspector GeneralPresident Trump removed the head of a group charged with overseeing the Coronavirus package passed by Congress. Trump has bristled at the oversight actions of several inspectors general. Wow I come from a country with a dictator in charge and I find that it’s crazy what Americans let their president get away with Gee, I can’t imagine why. We all know why.
Source: NPR - 🏆 96. / 63 Read more »
Democrats propose bill to undo Trump move to sideline coronavirus oversight leader“We must not allow President Trump to openly flout the oversight measures,' a trio of Democrats say. Unfortunately Republicans control the Senate and there are no longer any checks and balances left only hope is November. we have heard all this before
Source: politico - 🏆 381. / 59 Read more »
Fact check: Trump again overstates U.S. testing capabilityFact check: President Trump said that “America continues to perform more tests than any other nation in the world, and I think that’s probably why we have more cases.” The U.S. is doing a lot of tests, but per capita they are not doing the most. When did he say per capita? Never. What he said is true. Straw man. Fact Check: NBC is still fake news. The numbers aren't even close
Source: NBCNews - 🏆 10. / 86 Read more »
Bankers plead with Trump: Fix small business rescue planFrustrated bankers today directly appealed to Trump to fix problems with a Small Business Administration system that is holding them back from issuing $350 billion in government-backed loans designed to avert mass layoffs during the coronavirus pandemic The screwover of small businesses by Congress was clearly intentional.
Source: politico - 🏆 381. / 59 Read more »
Trump announces, then reverses, freeze on funding for World Health OrganizationPresident Trump today walked back his statement to slash funding for the World Health Organization. “I mean, I‘m not saying I‘m going to do it ... I said we’re going to look at it. We’re going to investigate it. But we will look at ending funding” He didn't 'walk back' his initial statement. He simply repeated the *threat*. What won't you stooges attempt to mischaracterize or manipulate to attempt a weak 'dunk' on the President? Yeah this was for sure the last pandemic MORON
Source: politico - 🏆 381. / 59 Read more »