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business Friday 17 april 2020
New pressure on lawmakers as virus aid for firms hits limit

By ANDREW TAYLOR islation more easily than if
Associated Press members are present, and
WASHINGTON (AP) — With Pelosi, D-Calif., cannot rule
a key coronavirus rescue the House with her typical
fund exhausted, lawmakers tight grip. At issue is a $350
faced new pressure Thurs- billion paycheck protection
day to break a stalemate program that's a center-
over President Donald piece of last month's $2.2
Trump's $250 billion emer- trillion rescue bill. The pro-
gency request to replen- gram gives grants to busi-
ish the program that helps nesses with fewer than 500
small businesses keep work- workers so that they can
ers on their payroll. maintain payroll and pay
Senate Minority Leader rent while shutting down
Chuck Schumer and Trea- their businesses during so-
sury Secretary Steven cial distancing edicts.
Mnuchin are in talks about The program,has been
legislation to shore up a swamped by businesses
paycheck subsidy pro- applying for loans, and has
gram. The Small Business reached its appropriations
Administration announced limit. Mnuchin says an addi-
Thursday it has reached tional $250 billion is needed
its $349 billion lending limit Senate Majority Leader Mitch McConnell of Ky., center, speaks with reporters outside the Senate immediately.
and is no longer accepting chamber on Capitol Hill in Washington, Thursday, April 9, 2020. But Democrats want mon-
applications, and Trump Associated Press. ey for hospitals burdened
immediately weighed in on The session, Democrats say, ly or dropped, at least for the pressure for a "clean" under COVID-19 caseloads
Twitter to bash Democrats. will not feature a GOP at- now. Democrats blocked extension of the paycheck and additional funding
"Democrats are blocking tempt to pass Trump's re- a fast-track bid to pass the program in statements for states and local gov-
additional funding for the quest — or to shame Dem- funding last week, and Re- Wednesday night. House ernments straining as the
popular Paycheck Protec- ocrats were they to object. publicans in turn stymied GOP Whip Steve Scalise economy slides into reces-
tion Program. They are kill- The Capitol is largely shut- their efforts for additional said Democrats "need to sion.
ing American small busi- tered, requiring consensus funding for other priorities stop holding small busi- They also want to make
nesses. Stop playing politics from all sides for any legisla- in a brief debate that was nesses and workers across sure the paycheck protec-
Dems! Support Refilling PPP tion to pass, and top GOP mostly a messaging exer- America hostage to their tion program is opened
NOW – it is out of funds!"" leaders are vowing to stick cise. endless spending de- up more to businesses that
Trump wrote. closely to Trump's request Majority Leader Mitch Mc- mands." don't have established re-
House and Senate Demo- despite Democrats' ad- Connell issued a joint state- "Our nation is not the same lationships with banks that
cratic aides expected an- ditional demands. Long- ment Wednesday night as it was a month ago," Mc- have been accepting ap-
other round of talks Thurs- standing feuds and rivalries with top House Republican Carthy said in a call with plications for rescue fund-
day by phone with Treasury hang over the talks, includ- Kevin McCarthy of Califor- reporters on Thursday. "This ing.
officials about Democratic ing a toxic relationship be- nia urging quick funding for isn't a time to play politics; Pelosi is pressing to add
demands for additional tween House Speaker Nan- the payroll protection pro- there's plenty of time to money to be distributed
money for hospitals and cy Pelosi and Trump. gram. The Senate is away play politics." by community develop-
state and local govern- But the unprecedented from Washington through With leaders unable to ment financial institutions,
ments. legislative environment May 4, though it convenes readily summon lawmak- which are small, nontradi-
The outlook for the legisla- gives Democrats consider- twice each week for pro ers to Washington, the tional lenders that focus on
tion is unclear, and nego- able influence, even if their forma sessions that could usual power dynamics are making loans in underde-
tiators are unlikely to meet funding requests for hos- be used to pass more coro- scrambled, especially in veloped and underserved
a potential deadline of a pitals and state and local navirus aid — though only if the House. There, Minor- neighborhoods, typically
vote during Thursday after- governments may have to no senator objects. ity Leader McCarthy, for communities with larger mi-
noon's pro forma session. be scaled back significant- Republicans amped up example, can stymie leg- nority populations. q

Oil and gas giant Shell targets 'net zero' emissions by 2050

BERLIN (AP) — Energy com- a stricter 30% target for re- BP in February. The group, "They hope to keep their greenwash or the COV-
pany Royal Dutch Shell told ducing the net carbon foot- which includes over 450 social license by trying to ID-19 pandemic distract us
investors Thursday that it print of its energy products investors managing more suck carbon from the air from the real and urgent
aims to stop adding green- by 2030, from 20% currently, than $40 trillion in assets, through vast tree planta- transformation needed to
house gases to the atmo- and aim for a cut of 65% said Shell's commitment tions and storing emissions avoid runaway climate
sphere by 2050, a move by 2050, from 50% at pres- "is of significance for the underground," said Teresa change," she added.
that was welcomed by ent. Emissions of carbon broader energy sector." Anderson, climate policy Experts agree that in order
some climate campaign- dioxide and methane from But some environmentalists coordinator at ActionAid to keep average global
ers even as others called it the extraction, refining and dismissed Shell's announce- International. "The fact that temperatures from rising
"corporate greenwash." burning of fossil fuels are ment as a public relations the technology they are re- by more than 1.5 degrees
The British-Dutch oil and gas one of the main drivers of stunt, noting that the no- lying on does not yet work Celsius (2.7 Fahrenheit)
giant said in a statement man-made global warm- tion of "net zero" would al- at scale, and that massive by the end of the century
that it wants to achieve ing. A group of institutional low the company to keep land grabs would be need- compared with pre-indus-
"net zero" emissions from investors known as Climate pumping out greenhouse ed to fulfill their tree plant- trial times, the world needs
production by mid-century Action 100+ welcomed the gases by claiming to off- ing ambitions, should raise to largely end man-made
"at the latest." announcement, which fol- set them with measures to huge red flags." greenhouse gas emissions
Shell also said that it will set lows a similar move by rival capture emissions. "We mustn't let corporate no later than 2050.q