Stimulus Oversight Measures in Development

Stimulus Oversight Measures in Development

(NewsReady.com) – Senators are gathering in Washington, DC to get more work done as the pandemic continues. Senate Majority Leader Mitch McConnell (R-KY) wants to go through President Donald Trump’s nominations for key positions to help deal with the COVID-19 outbreak. The Senate is also looking at the stimulus bills passed to aid the US.

The CARES Act provided $2.2 trillion in federal aid for COVID-19 relief. That legislation, along with the more recent $484-billion interim stimulus bill, provided funding for programs aiding small businesses.

It turned out larger companies also took advantage of the aid. Many of them have since returned that money, but Senate Democrats want to see more done. So, they’re attempting to pass a coronavirus aid oversight bill.

There are concerns that this oversight may not work as intended. The Small Business Administration (SBA) doesn’t have access to the information being requested. Instead, banks and lenders are actually issuing the loans, so the info would have to come from them, but Democrats are continuing their fishing expedition anyway.

~Daily News for Busy People!

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