>>> A POTENTIAL BREAKTHROUGH IN NEGOTIATIONS TO ADD MORE MONEY
TO THE SMALL BUSINESS PAYCHECK
PROTECTION PROGRAM.
PROTECTION PROGRAM. >> I THINK WE’RE ON A VERY GOOD
PATH.
PATH. FIRST OF ALL, I SUPPORT THE
C.A.R.E.S. ACT.
C.A.R.E.S. ACT. WE WERE PLEASED TO TURN IT FROM
A CORPORATE TRICKLE DOWN BILL TO
A WORKER’S FIRST BUBBLE UP AND
SUPPORT THE PPP.
SO AS THEY HAVE COMMITTED THE
MONEY THAT IS THERE, WE WANT TO
ADD MORE.
ADD MORE. >> I THINK WE’RE MAKING A LOT OF
PROGRESS, I HAD MULTIPLE
CONVERSATIONS ALL WEEKEND WITH
THE LEADERSHIP ABOUT THE SENATE
AND THE HOUSE.
I SPOKE WITH CHUCK SCHUMER THIS
MORNING.
MORNING. HE’S ON AFTER.
ONLY SMALL BUSINESS OWNERS THAT
HAPPEN TO GET THE COMPLICATION
IN AT THE EARLIEST POSSIBLE
MOMENT WERE LIKELY TO GET
FUNDED.
FUNDED. DEBBIE, IT’S GREAT TO SEE YOU.
I’D LOVE TO GET YOUR REACTION TO
THIS LATEST NEWS THAT WE MIGHT
BE CLOSE TO A NEW DEAL.
>> I WANT TO TAKE A MOMENT TO
SAY WE’RE WORKING RELENTLESSLY
IN THE PAST WEEK TO REACH AN
AGREEMENT, A BIPARTISAN
AGREEMENT TO PROVIDE ADDITIONAL
FUNDING THROUGH THIS EMERGENCY
AID RELIEF PACKAGE.
NO YOU WHAT HAPPENED IS WE HAD
PASSED THE CARES ACT AND $350
BILLION FOR SMALL BUSINESSES
WHICH INCLUDED THAT PAYCHECK
PROTECTION PROGRAM.
PROTECTION PROGRAM. THOSE FUNDS RAN OUT FAIRLY
QUICKLY BECAUSE IT WENT MOSTLY
TO THOSE BUSINESSES THAT HAVE
LONG TERM RELATIONSHIPS WITH THE
FINANCIAL INSTITUTIONS.
FINANCIAL INSTITUTIONS. MINORITY OWNED BUSINESSES,
FARMERS, FISHERMEN, THEY WERE
NOT ABLE TO ACCESS THOSE FUNDS.
THAT’S WHY ALL THIS PAST WEEK
WE’VE BEEN IN NEGOTIATIONS AND
I’M PLEASED TO SAY THAT I THINK
WE’RE GOING TO REACH A
BIPARTISAN AGREEMENT THAT WILL
INCLUDE ADDITIONAL FUNDS FOR
SMALL MINORITY OWNED BUSINESSES
AND VETERAN OWNED BUSINESSES BUT
ALSO TO HOSPITALS.
HOSPITALS ARE REALLY FACING DIRE
STRAITS.
STRAITS. >> IN ADDITION TO WHAT YOU’RE
TALKING ABOUT THE RELATIONSHIP
BETWEEN SOME COMPANIES AND THE
BANKING INSTITUTIONS, THERE IS
REPORTING FROM STEPHANIE RULE
THAT THE RULES FOR QUALIFYING
FOR THE LOANS WERE SO LOOSE THAT
PROGRAM WAS OPENED UP TO MANY
BUSINESSES AND PEOPLE WHO
WEREN’T THE INTENDED RECIPIENTS
INCLUDING WEALTHY FOLKS WHO WERE
ABLE TO FORM LLCs.
HOW DO YOU THEN WRITE THESE
PROVISIONS ABOUT THE MAKE SURE
THE MONEY IS GETTING INTO THE
HANDS OF THE PEOPLE IT IS
INTENDED FOR.
INTENDED FOR. THERE IS COMMUNITY DEVELOPMENT
BANKS AND THE AREAS SO THAT THEY
CAN ACTUALLY PROVIDE THE FUNDS
TO THE MINORITY OWNED BUSINESSES
AND VETERAN OWNED BUSINESSES.
THEY WANT US TO SEND AN
ADDITIONAL $250 BILLION AND IT
WOULD HAVE GOTTEN US TO THE SAME
PLACE WE ARE RIGHT NOW.
THE FUNDS WOULD HAVE RUN OUT
VERY QUICKLY.
VERY QUICKLY. SO WE HAVE BEEN ADVOCATED FOR
THE VERY SMALL MOM AND POP SHOPS
THAT WE HAVE ESPECIALLY HERE IN
SOUTH FLORIDA.
SOUTH FLORIDA. I’M SURE YOU HAVE SEEN THAT
FOOTAGE.
FOOTAGE. WHAT IS YOUR REACTION TO THE
GOVERNOR CHOOSING TO REOPEN THE
STATE.
STATE. HE KNOWS NO BORDERS.
I DON’T UNDERSTAND WHAT THIS
GOVERNOR IS THINKING.
HE’S ALREADY BEEN RANKED 50th IN
HOW HE’S HANDLED THE PANDEMIC.
HE CONTINUES TO MAKE THESE
DECISIONS PUTTING OUR LIVES AT
RISK.
RISK. BEFORE WE CAN HAVE A PLAN TO
REOPEN IN BEACHES, WE NEED TO
HAVE SCIENCE BASED APPROACH
WHICH WE HAVE BEEN WORKING ON IN
CONGRESS.
CONGRESS. WE NEED TO ENSURE THAT WE’RE
PAST THE PEAK THAT WE HAVE
ENOUGH EQUIPMENT FOR A HOSPITAL
WORKERS AND WE CAN HAVE A RATE
OF INFECTION THAT IS BELOW 1.
WE’RE NOT NEAR THAT YET.