Capito: Delay on new PPP funding hurts small businesses
There's some reported movement on reviving a small business loan program that ran out of money Thursday-just two weeks after it started.
The Trump Administration wants another $250 billion for the "Paycheck Protection Program". But Democrats and Republicans are at odds over expanding it.
West Virginia Senator Shelley Moore Capito says the dispute is affecting small business owners' ability to get the rescue money.
"Every time you add something in, make a tweak, you're adding regulations; you add time," Capito said in a conference call with reporters Friday. "We are just now getting to the point where our self-proprietors; say, a hairdresser or somebody, is just now able to access the program, and they're getting the door slammed in their face because of the political nature of the pushback."
The Associated Press quotes Republicans as saying they are willing to accept Democratic demands for additional funding for hospitals and community lenders, but are balking at more money for state and local governments.
Talks on the new legislation are to continue this weekend. The Senate is not due to reconvene until May.