WASHINGTON (Pakistan Point News / Sputnik - 17th April, 2020) Interim funding to replenish an out-of-money program for small businesses affected by the coronavirus (COVID-19) pandemic will have to wait at least until late April, as congressional Democrats and Trump administration officials continue attempts to resolve a partisan impasse that blocked a $250 billion replenishment last week, US House Speaker Nancy Pelosi said in a conference call on Thursday.
"If we have an interim package, we may have that on the floor by the end of the month, Pelosi said. An interim measure would precede consideration of a second CARES bill to expand the initial $2 trillion CARES measure approved recently.
Otherwise, lawmakers in the House of Representatives and Senate are not due back in Washington until the first week of May, as announced earlier by leaders in both chambers.
Earlier on Tuesday, the Small business Administration announced it had stopped accepting applications for COVID-19 relief - including the $350 billion Paycheck Protection Program (PPP) - because the agency had run out of money. The CARES act designated $350 billion in aid to small businesses, with the portion used to meet payroll converted into grants.
Last week, Senate Democrats blocked an emergency $250 billion bill to replenish Paycheck Protection Program coffers, demanding that the package be roughly doubled to include support for state and local governments as well as hospitals. Businesses closed by the COVID-19 crisis have halted sales tax collections, a key source of funding for state and local governments, while postponed elective medical procedures have deprived hospitals of a Primary revenue stream.
Pelosi said on Thursday that the same issues remained in play as Trump administration officials continued negotiations with congressional Democrats on an interim COVID-19 relief package.
