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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White House calls for Congress to release unused small business loans

Oct. 11 (UPI) — Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows on Sunday sent a letter to Congress calling for the release of unused Paycheck Protection Program funds amid ongoing talks on an additional round of COVID-19 stimulus.

Mnuchin and Meadows urged lawmakers to release the $134 billion in loans provided to small businesses to maintain operations and retain employees included in the $2 trillion CARES Act passed in March, while also criticizing Congress — particularly House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer — for their “all-or-nothing” approach to negotiating additional stimulus.

“The House has passed two separate partisan bills instead of compromising with us on bipartisan legislation like we have done in the past,” they wrote. “We will continue to try to work with Speaker Pelosi and Senator Schumer. It is not just about the top-line number but also about legislation

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