The Senate’s Plan To Save Small Businesses Is
Already Failing, And Mnuchin Just Made It Worse
The Federalist,
by
Christopher Bedford
Original Article
Posted By: MissMolly,
4/9/2020 5:04:25 AM
Remember the deal the president signed to save America’s small businesses from ruin during the government’s coronavirus shutdown? The one hammered out by the Senate and Secretary of the Treasury Steven Mnuchin over weeks of tense negotiation while Americans worriedly watched, hoping good news might come before a depression does? The details are out of Treasury now, and it looks like it isn’t going to work for a large number of small business owners after all.
It isn’t going to work because the Senate’s formula allows far too little money to make up for a lost month and get through the following two or more while meeting the Senate’s demands.
Reply 1 - Posted by:
DCGIRL 4/9/2020 5:32:43 AM (No. 373505)
Just open the damn economy back up and it will heal itself. No more stimulus. Just get the people back to work.
29 people like this.
Thanks for those encouraging words... How about waiting another week before you put your stamp of disapproval on it... OK Cowboy?
10 people like this.
Reply 3 - Posted by:
judy 4/9/2020 6:42:03 AM (No. 373536)
Trump... re-open the government, stop listening to the so called medical experts who are reporting every death as virus related. Dems don't want people to work . We didn't elect the media, Birx Or Fauci. Anything Trump does or says will cause grief from the corrupt media ..soooo do it Trump!
16 people like this.
Reply 4 - Posted by:
Gruntmedic 4/9/2020 7:05:30 AM (No. 373551)
They sure found enough pork for pet projects.
Money for Kennedy center, for the Arts,most of which majority of people will never see.
13 people like this.
Reply 5 - Posted by:
LesUNo 4/9/2020 7:32:03 AM (No. 373572)
It has to be said. Hopefully I am dead wrong. Fauci, Birx and Mnuchin are all committed Liberals. They are calling the shots. I am not accusing anyone of anti American bias. I do have a concern that perhaps subconsciously their opinions and recommendations are not in our President’s best interests. The doctors have manipulated the number of COVID deaths and now Mnuchin has apparently underestimated the needs of small businesses. I voted for Trump because he would make the tough calls. This wait and see approach is only burying our economy in a deeper hole. Step up to the plate Mr. President. We have your back.
17 people like this.
Reply 6 - Posted by:
Bur Oak 4/9/2020 7:43:28 AM (No. 373584)
The state governors have done most of the damage by their edicts closing businesses. Pressure needs to be applied to them to start reopening business. The longer the governors persist with their dictates, more businesses will fail. There is no reason bars, restaurants, and parks can't open with some restrictions such as restricted seating. The country is being harmed by this huge overreaction to the Chinese virus.
15 people like this.
Reply 7 - Posted by:
jinx 4/9/2020 8:02:20 AM (No. 373602)
Pres. Trump is trying. He knows what to do and is listening to his advisors, BUT once it is out of his hands, it can go awry. WHY? Because the government messes up everything it controls. Tell me one government program that works well or at all.
11 people like this.
Reply 8 - Posted by:
ROLFNader 4/9/2020 8:55:38 AM (No. 373682)
Joe Biden's latest petting victim, Governor Gretchen-(D-MI) just deigned to speak to her subject at 3pm today. All bets are that she will extend her pseudo martial law for another month or so.
7 people like this.
Reply 9 - Posted by:
HotRod 4/9/2020 9:15:20 AM (No. 373714)
The democrats made sure to get their pay and benefits package inserted into the bill. I doubt there has been any delay in getting that implemented!
8 people like this.
Reply 10 - Posted by:
davew 4/9/2020 9:29:10 AM (No. 373727)
The small business owners need to get their Senators to fix the problems before the bankruptcies start. The Treasury is all in and if they really need a supplemental loan the Fed can fix this. As Trump says, "Nothing is inevitable."
3 people like this.
Reply 11 - Posted by:
stablemoney 4/9/2020 9:53:47 AM (No. 373759)
Many small businesses do not have the resources to complete an SBA application, not unless they use a payroll processing company that can provide them with PPP payroll number computations, an attorney to provide all the legal documents required, and an accountant to complete the application. Most banks have not yet started accepting applications. Our bank gave up on completing an online loan portal, and allowed us to submit a manual application. The article is correct about the loan not solving the problem created by the shutdown. The shutdown got rid of the customers, so keeping the payroll is not solving that problem. The only thing that will save business is re-opening the economy so businesses have revenue again.
9 people like this.
Reply 12 - Posted by:
MickTurn 4/9/2020 10:10:13 AM (No. 373787)
Everything Politicians touch turns to Crap.
Next question...
7 people like this.
Reply 13 - Posted by:
XCenturion 4/9/2020 2:52:52 PM (No. 374205)
Is this the same bill that Nancy Pelosi stalled for one week in order to load it down with leftist pork like the Green New Deal?
0 people like this.
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