March 25, 2020
By Caity Witucki
BREAKING NEWS — Trump Says he is Prepared to Sign the CARES Act “Immediately”
During a White House briefing Wednesday evening, President Trump announced that he is prepared to sign the CARES Act immediately.
“Democrats and Republicans in the Senate are very close to passing the emergency relief bill,” says Trump. “The Senate bill, as you know, includes $350 billion in job retention loans for small businesses, with loan forgiveness available for businesses that continue paying their workers… I encourage the House to pass this vital legislation and send the bill to my desk for signature without delay. I will sign it IMMEDIATELY!”
Treasury Secretary, Steven Mnuchin, adds that he is optimistic about the implementation of the new Small Business Interruption Loans. “These are SBA loans but the treasury will be issuing new regulations authorizing almost every single FDIC insured bank to make these,” says Mnuchin. “I expect by the end of next week we will have a very simple process where these can be made and dispersed in the same day.”