Page 18 - HOH

A30 business
Saturday 25 april 2020
Trump signs $484 billion measure to aid employers, hospitals

By ANDREW TAYLOR and reached its lending limit
ALAN FRAM and after approving nearly 1.7
KEVIN FREKING million loans. That left thou-
Associated Press sands of small businesses in
WASHINGTON (AP) — Presi- limbo as they sought help.
dent Donald Trump signed Pelosi and allies said the
a $484 billion bill Friday to next measure will distrib-
aid employers and hospi- ute more relief to individu-
tals under stress from the als, extend more generous
coronavirus pandemic that jobless benefits into the fall,
has killed more than 50,000 provide another round of
Americans and devas- direct payments to most
tated broad swaths of the people and help those who
economy. are laid off afford health in-
The bill is the latest effort by surance through COBRA.
the federal government to Democrats tried to win an-
help keep afloat business- other round of funding for
es that have had to close state and local govern-
or dramatically alter their In this image from video, the vote on approving the almost $500 billion coronavirus package is ments in Thursday's bill but
operations as states try to displayed on the floor of the House of Representatives at the U.S. Capitol in Washington, Thursday, were rebuffed by Senate
slow the spread of the virus. April 23, 2020. Majority Leader Mitch Mc-
Over the past five weeks, Associated Press. Connell, R-Ky., who says
roughly 26 million people Trump said. day. We come to the floor billion for small banks and he's going to try pump the
have filed for jobless aid, or The measure passed Con- with nearly 50,000 deaths, an alternative network of brakes on runaway deficit
about 1 in 6 U.S. workers. gress almost unanimously a huge number of people community development spending. McConnell says
Trump thanked Congress Thursday as lawmakers impacted, and the uncer- banks that focus on de- he doesn't want to bail
for "answering my call" to gathered in Washington tainty of it all." velopment in urban neigh- out Democratic-governed
provide the critical assis- as a group for the first time Anchoring the bill is the borhoods and rural areas states for fiscal problems
tance and said it was "a since March 27. They fol- Trump administration's $250 ignored by many lenders. that predated the pan-
tremendous victory." But lowed stricter social dis- billion request to replenish There's also $60 billion for demic, but there's plenty
easy passage of this aid in- tancing rules while seeking a fund to help small- and small-business loans and of demand for state fiscal
stallment belies a potential- to prove they can do their medium-size businesses grants delivered through relief among Republicans,
ly bumpier path ahead for work despite the COVID-19 with payroll, rent and oth- the Small Business Adminis- too.
future legislation to address crisis. er expenses. This program tration's existing disaster aid After the Senate passed
the crisis. Lawmakers' face masks provides forgivable loans program. the bill Tuesday, McConnell
Trump said most of the fund- and bandannas added a so businesses can con- Passage of more corona- said Republicans would
ing in the bill would flow somber tone to their effort tinue paying workers while virus relief is likely in the entertain no more corona-
to small business through to aid a nation staggered forced to stay closed for weeks ahead. Supporters virus rescue legislation until
the Paycheck Protection by the health crisis and social distancing and stay- are already warning that the Senate returns to Wash-
Program, which provides devastating economic at-home orders. the business-backed Pay- ington in May. He promised
money to small businesses costs of the pandemic. The legislation contains check Protection Program rank-and-file Republicans
to keep workers on their "Millions of people out of $100 billion demanded by will exhaust the new $250 greater say in the future
payroll. work," said House Speaker Democrats for hospitals billion almost immediate- legislation, rather than
"Great for small business- Nancy Pelosi, D-Calif. "This is and a nationwide testing ly. Launched just weeks leaving it in the hands of bi-
es, great for the workers," really a very, very, very sad program, along with $60 ago, the program quickly partisan leaders.q
Trump: Postal Service must charge Amazon more, or no loan

unless the agency raises package. Under the res- "If they don't raise the
charges for Amazon and cue package legislation, price of the service they
other big shippers to four Treasury Secretary Steven give ... I'm not signing any-
to five times current rates. Mnuchin must approve thing and I'm not authoriz-
"The Postal Service is a joke the loan before the Post- ing you to do anything."
because they're handing al Service can receive Mnuchin told reporters
out packages for Amazon the money. Officials at that he had Treasury offi-
and other internet compa- the Postal Service had no cials working with the Post-
nies and every time they immediate reaction to al Service on the terms of
bring a package, they Trump's comments. the loan if postal officials
lose money on it," Trump Trump said the changes decide they need more
told reporters in the Oval the administration will in- money.
Office. sist on will make it a "whole "We are going to post cer-
The president was re- new ballgame" at the tain criteria for (a) postal
sponding to a question Postal Service. He said reform program as part
President Donald Trump speaks before signing a coronavirus
aid package to direct funds to small businesses, hospitals, and about reports his admin- the Postal Service did not of the loan," Mnuchin
testing, in the Oval Office of the White House, Friday, April 24, istration plans to force want to make the chang- said. He said the Postal
2020, in Washington. major changes in postal es because they did not Service board is already
Associated Press. operations as the price want to offend Amazon conducting a search for
By MARTIN CRUTSINGER ident Donald Trump said for approving a $10 billion and other companies. a new postmaster gener-
and DARLENE SUPERVILLE Friday that he won't ap- loan that was included in Looking at Mnuchin, who al to run the agency and
Associated Press prove a $10 billion loan the government's $2 tril- was with him in the Oval undertaking reforms of
WASHINGTON (AP) — Pres- for the U.S. Postal Service lion economic rescue Office, the president said, operations.q