Senate to rush through ANOTHER $250 billion bailout for small businesses as early as Thursday to prevent $250 billion paycheck protection scheme drying up in days

Senate Majority Leader Mitch McConnell is aiming to get an additional $250 billion approved for small business relief He says he will bring the measure to the Senate floor...

  • Senate Majority Leader Mitch McConnell is aiming to get an additional $250 billion approved for small business relief
  • He says he will bring the measure to the Senate floor on Thursday 
  • ‘It is quickly becoming clear that Congress will need to provide more funding or this crucial program may run dry. That cannot happen,’ he said in a statement
  • McConnell says he is working with Senate Minority Leader Chuck Schumer 
  • Democrats are looking to pass another massive economic stimulus package 
  • House Speaker Nancy Pelosi says the bill would ‘easily’ cost another $1 trillion 
  • Republicans are more cautious, asking to wait until the $2.2 trillion phase three bill is full implemented before moving onto phase four
  • Freshman Republican Senator Josh Hawley, however, wants an even more ambitious phase four package
  • He said the federal government should fund more companies so they can keep employees on the payroll as unemployment claims reach a record high

Mitch McConnell wants to have another round of small business bailouts on the Senate floor by Thursday in an expansion of the Paycheck Protection Program.

‘It is quickly becoming clear that Congress will need to provide more funding or this crucial program may run dry. That cannot happen,’ McConnell said in a statement Tuesday.

McConnell said he is working with Senate Minority Leader Chuck Schumer and Treasury Secretary Steven Mnuchin to deliver the additional $250 billion in relief for small businesses before the end of this week. 

The Paycheck Protection Program aims to help small businesses ensure their employees receive paychecks and that their businesses stay open in the wake of the pandemic.

It was originally passed in an economic stimulus bill last month with $350 billion.Senate Majority Leader Mitch McConnell is aiming to get an additional $250 billion approved for small business relief by bringing the measure to the Senate floor on Thursday

Senate Majority Leader Mitch McConnell is aiming to get an additional $250 billion approved for small business relief by bringing the measure to the Senate floor on ThursdayMcConnell said he is working with Senate Minority Leader Chuck Schumer to get the expansion on the Paycheck Protection Program to the floor for a voice vote before the end of the week

McConnell said he is working with Senate Minority Leader Chuck Schumer to get the expansion on the Paycheck Protection Program to the floor for a voice vote before the end of the week.Here people stand in social-distanced unemployment lines in Arkansas after losing their jobs in the wake of the coronavirus outbreak. Unemployment claims have reached an all-time-high in the U.S. as millions filed for the benefits in the last few weeks

Here people stand in social-distanced unemployment lines in Arkansas after losing their jobs in the wake of the coronavirus outbreak. Unemployment claims have reached an all-time-high in the U.S. as millions filed for the benefits in the last few weeks

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