Senate Democrats on Thursday blocked legislation to add $250 billion to a small-business loan program designed to prevent layoffs during the coronavirus outbreak.
The move means that Congress won’t pass an expansion of the Paycheck Protection Program, which is running out of money, until next week at the earliest.
The Senate adjourned until Monday after Sen. Ben Cardin (D-Md.) objected to holding a unanimous voice vote.
The small-business program gives companies with up to 500 employees, and in exceptions more, loans to cover payroll and overhead. The loans will be forgiven if they don’t lay off workers.
The program launched Friday with massive interest from employers, after unemployment surged by 10 million people as businesses were ordered closed by governments.
We just found out that 16 million Americans have been laid off in three weeks. A staggering 10% of the labor force is now out of work. This is a crisis. No time for partisan maneuvering or politics as usual. I hope Democrats reverse course & let us increase paycheck support soon.
— Leader McConnell (@senatemajldr) April 9, 2020