Mnuchin: Trump still wants stimulus deal
Treasury boss says some states’ failure to reopen not helping
WASHINGTON — Pressed by Democrats to quickly negotiate a new coronavirus relief package, Treasury Secretary Steven Mnuchin said Tuesday the administration is willing to work on a bipartisan agreement to help small businesses, the unemployed, children and schools. Democratic leaders in Congress are holding it up, he said.
“Let’s move forward on a bipartisan basis on points we can agree upon,” Mnuchin urged at a hearing by the House Select Subcommittee on the Coronavirus Crisis.
Mnuchin made the case that the economy’s recovery has strengthened, citing improved consumer spending, growth in manufacturing and a rebounding housing market. It’s the failure of some states to reopen activity that is holding back the economy, he said.
But Democrats insist that dire economic conditions persist for many. “Millions of Americans are now facing eviction, debt and hunger,” said the panel’s chairman, Rep. James Clyburn, D-S.C. “As the pandemic drags on, states, cities and businesses are warning that more layoffs may be coming.”
The subcommittee’s Democratic staff, meanwhile, said it has identified possible fraud and abuse in a signature piece of the administration’s relief effort, the $660 billion-plus small-business loan program — including more than $1 billion awarded to businesses that received multiple loans.
A report by investigators said a lack of government oversight and accountability “may have led to billions of dollars being diverted … rather than reaching small businesses truly in need.”