Senators Rubio and Collins News Conference
2020-03-18T19:35:57-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvZjNlXC8yMDIwMDMxODE1NTIxNDAwMV9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Senator Marco Rubio (R-FL), the chair of the Small Business Committee, and Senator Susan Collins (R-ME) held a news conference on their proposal for economic stimulus provisions for small businesses to be included in a “phase three” coronavirus aid package. The senators' proposal includes a federally-guaranteed loan that small businesses could seek for the purposes of maintaining their payroll and operating costs during the economic downturn due to the coronavirus pandemic. If the money is used for those specific purposes, the loans would be forgiven after a certain period of time. “Every penny that they borrow and use for purposes of keeping people employed, they will not have to pay back,” said Senator Rubio. The senators added that the Treasury Department estimated the cost of the program to be around $300 billion.
Senator Marco Rubio (R-FL), the chair of the Small Business Committee, and Senator Susan Collins (R-ME) held a news conference on their prop… read more
Senator Marco Rubio (R-FL), the chair of the Small Business Committee, and Senator Susan Collins (R-ME) held a news conference on their proposal for economic stimulus provisions for small businesses to be included in a “phase three” coronavirus aid package. The senators' proposal includes a federally-guaranteed loan that small businesses could seek for the purposes of maintaining their payroll and operating costs during the economic downturn due to the coronavirus pandemic. If the money is used for those specific purposes, the loans would be forgiven after a certain period of time. “Every penny that they borrow and use for purposes of keeping people employed, they will not have to pay back,” said Senator Rubio. The senators added that the Treasury Department estimated the cost of the program to be around $300 billion. close
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