Administration Officials Urge Congress to Repurpose Unused Small Business Funds

Trump administration officials are urging lawmakers to pass a bill that would repurpose unused funding from the Paycheck Protection Program, which was established to boost struggling businesses during the coronavirus pandemic, as negotiations on another stimulus package continue.



Steven Mnuchin wearing a suit and tie: Secretary of the Department of the Treasury, Steven T. Mnuchin, during a hearing in Washington, D.C., September 24, 2020


© Toni L. Sandys/Reuters
Secretary of the Department of the Treasury, Steven T. Mnuchin, during a hearing in Washington, D.C., September 24, 2020

“Now is the time for us to come together and immediately vote on a bill to allow us to spend the unused Paycheck Protection Program funds while we continue to work toward a comprehensive package,” read a Sunday letter to members of Congress from White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin. “The all-or-nothing approach is an unacceptable response to the American people.”

On Sunday, House Speaker Nancy Pelosi rejected the administration’s latest offer of $1.8 trillion coronavirus relief bill, which included $300 billion

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Business, Labor Groups Urge G20 to Close ‘Stimulus Gap’ in COVID-19 Crisis | Investing News

WASHINGTON (Reuters) – The Group of 20 nations must offer poorer countries a longer freeze in debt payments and other help to protect the global economy from long-term scarring inflicted by the COVID-19 pandemic, leading business and labor groups said.

Warning of job losses, increasing poverty, rising child mortality and high business failure rates in poorer countries, the groups urged G20 finance ministers, who will meet by teleconference next week, to take immediate action.

“The required contribution from the world’s leading economies is minute compared to the social and economic costs of inaction,” the International Chamber of Commerce, the International Trade Union Confederation, and Global Citizen, a group pushing to end extreme poverty by 2030, said in an open letter.

The G20’s freeze in official bilateral debt payments for the poorest countries should be extended through to end-April 2022 and broadened to include lower-middle and middle-income countries, based on their

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Business, labor groups urge G20 to close ‘stimulus gap’ in COVID-19 crisis

FILE PHOTO: International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S., April 20, 2018. REUTERS/Yuri Gripas

WASHINGTON (Reuters) – The Group of 20 nations must offer poorer countries a longer freeze in debt payments and other help to protect the global economy from long-term scarring inflicted by the COVID-19 pandemic, leading business and labor groups said.

Warning of job losses, increasing poverty, rising child mortality and high business failure rates in poorer countries, the groups urged G20 finance ministers, who will meet by teleconference next week, to take immediate action.

“The required contribution from the world’s leading economies is minute compared to the social and economic costs of inaction,” the International Chamber of Commerce, the International Trade Union Confederation, and Global Citizen, a group pushing to end extreme poverty by 2030, said in an open letter.

The G20’s freeze in

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