David Dodson, small business advisor and lecturer of administration at Stanford University, joins “Squawk Alley” to debate the federal small business loan program as Congress works to approve extra funds.
Senate Democrats on Thursday blocked a Republican push to unanimously go a invoice to place $250 billion extra into a loan program for small companies devastated by the coronavirus pandemic.
With solely a few senators in the Capitol, Senate Majority Leader Mitch McConnell tried to approve the measure by a unanimous vote. Sen. Ben Cardin, D-Md., objected to the request, stalling the laws.
Speaking on the Senate flooring, McConnell mentioned he was not “talking about changing any policy language” the events negotiated final month as a part of an unprecedented $2 trillion emergency spending bundle. He urged Democrats to not “block emergency aid you do not even oppose just because you want something more” — tweaks to the small business support program and extra emergency funding for hospitals and states, a proposal Democratic leaders outlined Wednesday.
After Cardin rejected the measure, he known as McConnell’s transfer to go the funding a “political stunt.” He pushed for provisions together with cash for Small Business Administration catastrophe help grants in order that individuals who don’t have already got a banking relationship can obtain the support.
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