I sincerely believe when these monies are available the small businesses truly in need will receive them. In that is the reality the pressure to reopen will diminish.
The $2.2 trillion law passed by the legislature before this bill sadly was misdirected. That is exactly the problem with the idea of reopening before the hospitals are able to respond to any increase in COVID-19 cases. The small businesses that are addressed in this bill have a great deal of pressure to open as soon as possible. Their proprietors are also disillusioned by the failure of the earlier law to reach them.
The skepticism of people in the USA regarding survival measures such as a $2.2 trillion dollar law actually helping them is considerable. And why? Because when large amounts of money are to be distributed by Congress into an economic effort to stabilize a failing economy those monies never make it to the small businesses that 50% of the workforce relies on for their income.
I find the misdirection of the monies in that huge spending bill disgusting. Americans are disgusted in the way corruption easily finds its way into federal law.
It is my full expectations that with the leadership of Senator Schumer and Speaker Pelosi the REAL NEED in the small business community is finally addressed. I fully expect the misdirected funds will be coming back to the US Treasury. Those returned funds MUST support the companies they were intended to benefit. When these businesses receive the monies they need, the pressure to reopen will diminish and their workers will be safe at home.
New York Times Live Updates
April 21, 2020
The Senate on Tuesday passed a $484 billion coronavirus (click here) relief package that would replenish a depleted loan program for distressed small businesses and provide funds for hospitals and coronavirus testing, approving yet another huge infusion of federal money to address the public health and economic crisis brought on by the pandemic.
The measure was the product of an intense round of bipartisan negotiations between Democrats and the Trump administration that unfolded as the small business loan program created by the stimulus law quickly ran out of its initial $349 billion in funding. The program ran dry before many companies were able to have their applications approved, collapsing under a glut of appeals from desperate businesses struggling to stay afloat....
