April 10, 2020
By: Caity Witucki
Senate Blocks $250 Billion PPP Loan Expansion
On Thursday, the Senate blocked efforts to expand the $349 billion small business stimulus lending program by an additional $250 billion.
Senate Majority Leader Mitch McConnell tried to approve the measure by a unanimous vote. However, Senator Ben Cardin, objected to the request. Senator Chris Van Hollen then tried to unanimously pass a Democratic amendment but it was blocked by McConnell and the Senate adjourned until Monday.
Replenishment of the PPP small business loan program may still occur at a later date.