Lawmakers are reportedly close to making a deal on more coronavirus aid, which includes restoring a relief fund for small businesses, said Nancy Pelosi, the House speaker.
In an interview aired on ABC’s “This Week”, Pelosi said, “We’re close. Again, we have common ground … I think we’re very close to an agreement.”
Her announcement was seconded by several officials, including Steven Mnuchin, the treasury secretary, Mike Pence, the vice president; and Chuck Schumer, the Senate minority leader.
On Thursday, the Small Business Administration said that the $350 Paycheck Protection Program will not be accepting any more applications. This move has closed doors for several borrowers trying to get aid at this hour of crisis.
Pelosi said that the businesses will receive their aid but in a “timely fashion”. She also said that now there is an urgency and opportunity to cater to the hospitals, teachers, firefighters, and others. Soon, the government will move on to the next bill.
After a partisan standoff, both party sources said on Saturday that progress had been made on fixing a provisional deal. The contents pointed out that above $250 billion has been assigned for the Paycheck Protection Program. Almost $75 billion has been assigned for hospitals.