U.S. Senate President Mitch McConnell (D-Ky.) said on Tuesday (Oct. 13) that the body will take up a COVID-19 relief measure before the end of October.
The PPP provided loans to businesses at extremely low interest rates, and included a provision that the loans would be forgiven if those businesses retained employees or quickly rehired them after laying them off.
In Tuesday’s news release, McConnell blamed Democrats, who filibustered an earlier Republican-sponsored measure, for the lack of a new law reviving the PPP.
“When the full Senate returns on Oct. 19, our first order of business will be voting again on targeted relief for American workers, including new funding for the PPP. Unless Democrats block this aid for workers, we will have time to pass it before we proceed as planned to the pending Supreme Court nomination as soon as it is reported by the Judiciary Committee," he wrote. "Republicans do not agree that nothing is better than something for working families. The American people need Democrats to stop blocking bipartisan funding and let us replenish the PPP before more Americans lose their jobs needlessly.”
Top aides to President Donald Trump have called for additional unemployment assistance and direct payments to families. And the President tweeted on Tuesday: "STIMULUS! Go big or go home!"
The sense of well-being among the owners of small and mid-sized businesses has been mixed, according to PYMNTS’ research.
Professional services and retail trade businesses were among those whose leaders reported the smallest improvements in their sense of long-term well-being for August compared to April. Operators of construction firms and restaurants reported the biggest improvement in sentiment.