Treasury Secretary Mnuchin Discusses Timing for Coronavirus Support Funds For Workers and Business…

U.S. Treasury Secretary Steven Mnuchin calls-in to Maria Bartiromo to discuss some of the details within the coronavirus relief bill, including the ‘when’ and ‘how’ funds will be distributed.

On the business side Secretary Mnuchin is standing up a new funding mechanism for small businesses within the Small Business Administration (SBA).  The treasury is using the architecture of the ¹FDIC to be the point of contact for businesses who need short-term bridge funds to help carry them.  On the worker side the direct payments to middle-class workers should arrive in two to three weeks.  Excellent Interview:

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¹That is really smart.  All FDIC insured lenders can operate as point of contact lenders for small businesses that need emergency funding.  That means instead of navigating the matrix of big government, a business owner can just go to their local bank and get the funds.  The FDIC, already in a relationship with the bank, back-stops the funding while treasury underwrites the lending (a loan without payback).  Brilliant approach.

This entry was posted in Big Government, Budget, Coronavirus, Deep State, Infectious Disease, Legislation, media bias, President Trump, Taxes, Uncategorized. Bookmark the permalink.

72 Responses to Treasury Secretary Mnuchin Discusses Timing for Coronavirus Support Funds For Workers and Business…

  1. JohnCasper says:

    What about Coronavirus Support Funds For Joe Biden? His need is certainly greatest as he needs to have his whole brain made right and as momentous job as that would be doesn’t come cheap.

    Liked by 1 person

  2. auscitizenmom says:

    Great! I figured Pres. Trump would have a plan.

    Liked by 5 people

  3. willthesuevi says:

    President Trump. Eliminating government red tape, one democrat meltdown at a time.

    A lesson on how to make useless bureaucrats even more irrelevant.

    Liked by 21 people

    • Niagara Frontier says:

      It’s very smart. Besides many government workers are already sitting at home on administrative-weather leave waiting for their new government laptops to arrive, along with secure high speed internet connections, so they can work from home.

      Liked by 4 people

  4. Publius2016 says:

    GENIUS

    45 set up a system for MAIN STREET!

    Liked by 12 people

    • Dutchman says:

      Publius,
      One way that I have been looking at this mirrors and expands on your comment.
      The Tarp program was a stimulas by the Globalist Uniparty, to benefit the phony Wall Street Economic engine.

      The CARE prorams are a stimulas by PDJT, to benefit the MAIN STREET Economic engine.

      PDJT is even strengthening the ‘alternative’ banking sector, at the expense of the globalists.
      Small business DO NOT go to the buerocracy, nor do they go to the bigger than too big to fail BIG banks; they go to their small, regional banks which will funnel 10’s of millions or Billions of $ to these small businesses. These small banks will no doubt be ‘strengthed’ with this infusion of business, and yet the banks themselves are assuming no risk, hence they are STRENGTHENED.

      Sundance wrote an article awhile back, on how one of PDJT’s many initiatives that has flown “under the radar” because of TDS distraction, is a program to build up an “alternative banking” sector. An Alternative to the Big, too bigger to fail WALL STREET banking sector it is SMALLER, local and regional banks.

      Point is, while a lot of attention was paid to Pelosi’s attempt to pack the bill with HER pork, and Republicons undoubtedly tried to stuff some in, ….

      PDJT got in some key things which further his MAGA agenda, and deny the Wall street things it would want, while getting this aid package through.

      No stock buy backs, and the two big to fails don’t get one cent of most of this $.
      The checks to individuals direct tdeposited, so they don’t get any of THAT, either.

      This really is an opposite if TARP, in many ways; he is addressing the crises, and ISN’T “letting this crises go to waste”, as he structures the aid to further his MAGA agenda, on numeous fundamental levels setting up to SUPERCHARGE an already historically unprecedented phenominally positive economy.

      IF the release of this virus was ingtentional, or if it was an act of nature his enemies are attempting to Capitalise on it doesn’t matter.

      Once again, and probably in the biggest way yet, their plan is turned on its head, they faceplant and PDJT wins, once again!

      “Hah! NOW we’ve FINALLY got Trump right where he WANTS us!, Wha?,…Hey!”

      This flop may be even bigger than Muh Russia, or Muh Ukraine, combined.

      Liked by 15 people

      • Publius2016 says:

        x1000

        45 and his Team of Patriots set up 5% commission to BANKS (big and small) so $100k loan brings in $5k to bank…not too shabby but of course they have to do the work which is fair…small business will be able to choose whether to use the funds for employees or capital improvements or both! loved how 45 said yesterday, sure the restaurant may close but hopefully another will take its place…ie, we need business flowly…up down..side to side…

        in the past, GOVERNMENT SET UP GARBAGE SYSTEMS…look at CDC deliberately failing at test kits…45 went to PRIVATE SECTOR and said getter done!

        Now look at $3400 for AMERICAN families…DIRECT DEPOSIT! if ILLEGALS cash in, IT IS BANK FRAUD!

        SD shows how multiNationals were monopolies controlling price access supply and demand…45 says, Hold my Diet Coke

        Liked by 11 people

  5. The NY Times dutifully regurgitates ChinaLies(tm), claiming that the USA is the Number One hotspot. To which Hillary Bollard Clinton laughed: “He did promise “America First.”

    She must have stayed up ’til 3 am thinking of that joke.

    Liked by 8 people

  6. frankmystery says:

    Can anyone answer for me why the Senate passed it first? Did that have to happen because that gives a blue house final say.

    Liked by 2 people

    • Niagara Frontier says:

      My guess….Senate has a Republican majority and is on speaking terms with the White House. The Speaker of the House can’t even bring herself to say the President’s name let alone negotiate a deal with him. You can’t negotiate with people who aren’t talking to you.

      Liked by 7 people

    • dwpender says:

      I presume your confusion (like mine) was that all “money bills” must originate in the House.

      I have concluded this could properly start in the Senate because there is not one single revenue raising line in the entire bill. It SPENDS $2 trillion plus, but not one penny is pad for.

      Liked by 1 person

      • Niagara Frontier says:

        Remember too that they used a bill previously passed by the House, stripped it of its contents, inserted new contents, passed it, and sent it back to the House for concurrence. So in Congress-speak, this bill technically did originate in the House, even though it looked entirely different. That’s how far we’ve strayed from the intentions of our founders.

        Liked by 12 people

      • Revenant says:

        The Senate hollowed out another bill that had already passed the House (simply replaced all language, including the title, by amendment). From a practical perspective, the requirement that spending bills originate in the House is virtually a dead-letter, as the Senate can just take a different House bill, replace all the language with different text and vote it out that way.

        I suppose if the House simply passed nothing at all, the Senate couldn’t do this. But that’s not realistic either.

        Liked by 4 people

    • The House passed a bill that was gutted in the Senate, then sent back, I believe. Pelosi delayed everyones’ checks by a week.

      Liked by 4 people

    • cboldt says:

      Flip of the coin. Either chamber could have written it first. Same result either way,
      Usually, starting these must-pass bills in the Senate moves faster. Senators insist on being the last word, so give it to them first.

      Liked by 2 people

      • gda53 says:

        Same result either way?

        Did you see the crap in the House bill?

        Mnuchin virtually wrote the Senate bill, and thank God for that. Left to the House we would have been in a world of Government bureaucratic sh*t.

        Remember the shovel ready jobs?

        Just be thankful we had the Senate and be extra super glad we had a President Trump who could tap a Mnuchin to work in his administration.

        Liked by 9 people

      • Bigly says:

        Cboldt – I never understood anyone that thinks the parties are exactly the same – please open up a bit so we can all hear how you think. It’s like a science experiment right here at the treehouse. Tell us – how I. The world do you think the house would have given us anything close to what the senate did. Serious.

        Liked by 2 people

    • Publius2016 says:

      FED bills always come from SENATE

      Liked by 1 person

    • MightyConservative says:

      Frank, all spending bills must be originated in the House. The Senate simply took an old, I passed, House bill and stripped it. While written in the Senate, it technically originated in the House.
      Games people play.

      Like

  7. TreeClimber says:

    It’s almost like Sec Mnuchin knows what he’s doing, or something. 😉

    Liked by 19 people

  8. doofusdawg says:

    Problem is the banks are closed except for drive thru… oops.

    Like

  9. BigTex52 says:

    They listed all of those great things the money is earmarked for aid to Americans, businesses and to help fight C19. Wonder where the remaining 621 billion is going…oh, that’s right, funding The Kennedy Center, NPR, CON gressional and SIN atorial salary increases, Public Endowment, FOREIGN AID (which magically ends up in politicians’ coffers), etc….

    Liked by 4 people

  10. Mike in a Truck says:

    Compare President Trumps cabinet and economic team to the …cant even say his name anymore. LastGuy.LastGuy had a bunch of bumbling duffuses and political hacks, one of whom (thinks) he’s running for President. Or maybe High Commissioner of the Lollipop Guild.Hard to say at this point.

    Liked by 11 people

  11. FrankieZee says:

    Have no fear, the D RATS along with the Corrupt news and the Chicoms are already planning the next strategy to take down the USA. You can count on it. These people are so embolden now that they feel they can get away with anything.

    Liked by 1 person

  12. Bogeyfree says:

    Is the secret service under him yet?

    If so, can we begin to ask questions about Ukraine Money Laundering Crimes yet?

    Coup #1 – Russia Collusion – No Crimes, No Indictments

    Coup #2 – Fake Whistleblower & Impeachment – No Crimes, No Indictments

    Coup #3 – Leverage a Crisis / Destroy Job & Economy – No Crimes, No Indictments

    Liked by 2 people

    • woohoowee says:

      PT45 respects his fellow man and builds things up for everyone; The Left disrespects everyone and steals everything their neighbors worked for in their process of complete destruction.

      Liked by 3 people

      • Dutchman says:

        Woohoo;
        Res ipso Loquitor
        Latin for “the Thing speaks for itself”.

        He may well “call them out” for this but not sure he really NEEDS to.
        So many Americans at home, sheltering in place, worrying about they and their loved ones physical and financial health were WATCHING, and they SAW what Nanzi did, right in “broad daylight”.

        So, not sure PDJT needs to draw attention to it, cause,…
        Res Ipso Loquitor

        Liked by 3 people

  13. GB Bari says:

    If the President is supporting this (there is no evidence to the contrary) then he already knows the downstream results will benefit him politically and that means it benefits us.
    Everything Mnuchin has done as Treasury Secretary has thus far benefitted the MAGA effort.

    I don’t like the size of this bill nor the blatantly unrelated Pork that it contains, but have no reasonable choice but to stay fully on board the MAGA / KAG train.

    At the appropriate future time, IMHO, the President will call out the DemonRATs for their crass and blatantly political extortion of the American people in this bill.

    Liked by 6 people

  14. Dutchman says:

    Think if Reich, shorter than Fauci or Snuffleopogus, who predicted the Economy would collapse, on election day morning, or Larry Summers, who as Chancellor of University saw no value in Facebook, were in charge of our Economy, working for President Clinton.

    Sorry, have you quit shuddering yet?
    Feel free to take a moment,…vomit if you have to, use the trashcan,….

    Then say a prayer of thanks to God almighty for sending us our spokesman, our warrior, our very own “Glorious Bastard”, President Donald J. Trump!
    Amen?

    Liked by 7 people

    • fanbeav says:

      I also remember the fool Austin Goolsby under Obama! What a retard!

      Liked by 1 person

      • flova says:

        Goolsby is always on Fox commentating.
        Also, Larry Summers tried to save Lithuania’s economy as an economics adviser and ended up nearly bankrupting the country, doubling the suicide rate and 2 years later they voted in a communist party rep.

        Geithner couldn’t even figure out his own taxes and Barry put him in charge and almost put Summers in charge. What buffoons, all of them.

        Liked by 1 person

  15. Deplorable_Vespucciland says:

    Former bartender and now freshman congresswoman Alexandra O’moron-Cortez wants to know why her undocumented friends won’t be getting any $1,200 checks. Those illegal aliens are already going at the govt teat to the tune of about $1,600 a month per supposed family unit. And yes, there is some $350million for immigrants & refugees tucked away in this Bill.

    ~~~~~~~ TRUMP 2020 ~~~~~~~

    Liked by 1 person

  16. Dutchman says:

    Another example of divine intervention.
    At the outset of his Presidency, PDJT assembled his team of Wolverines.

    Of all his cabinet, he has probably worked the most, in time, detail and scope with this team, from day one on his trade reset.

    So, they were already ‘stood up’, had vadt experience working WITH him, negotiating FOR,him, to give HIM just what he wants.

    They were well versed in supply chain, and negotiating deals involving Billions and Trillions, and in short were perfectly positioned and primed to set up this “wartime responce”.

    Coincidence,…..or divine intervention?

    Thank you Lord, for our WOLVERINES!

    Liked by 4 people

  17. trnathens says:

    As a small business owner, I feel I have an incredible advocate in not only PDJT, but Secretary Mnuchin, and the entire economic team, that is not only confronting this issue, but the consequences of decades of America-last trade negotiations.

    Maybe it’s in my DNA, but leading from behind always made me want to puke. That’s not leading, that’s Monday-morning quarterback.

    What’s happening now… THIS IS LEADING FROM THE FRONT, YELLING “‘Merica! F— yeah!”

    Liked by 2 people

    • Dutchman says:

      PDJT is NOT “Kicking ass and taking names”,…no, he’s really NOT!

      He is kicking so many asses, in such rapidity, that he isn’t wasting time, and even the aid he assigned, is just taking initials!

      As I squint ahead into the future, I see the checkered flags, and PDJT WAY ahead as he crosses the finish line.

      Liked by 3 people

  18. Shacklesandchains says:

    Keep saying this and maybe I won’t be the only one that agrees with you. Here comes the loans and here come the unions to pressure open voting on businesses that take these loans. As the sun rises in the east and sets in the west, small and medium businesses are under the them of leftists unions.

    Like

  19. trnathens says:

    Term II:

    NATIONAL DEBT HALVED BY NEW, PERMANENT FOOTING OF RECESSION-PROOF ECONOMY BASED ON SOLID MANUFACTURING, SERVICE, AND SALES SECTORS.

    Just my opinion.

    Liked by 1 person

    • cheering4america says:

      ONLY if we retake the House, and elect enough MAGA supporting Reps and Senators to actually improve anything. Which would also include dismantling government unions. Government by bureaucratic agencies. Unaccountable foreign aid. Unaudited [and unConstitutional] Federal Reserve.

      I’m glad Mnuchin said that 90% of what’s in this bill is what President Trump wanted, but was very sobered by simultaneously watching openthebooks.com this afternoon and cannot emphasize enough how important this effort is:

      Liked by 1 person

  20. Robster says:

    We are all socialists now…

    Like

  21. Rant On!
    I love our POTUS and will support hin to the end HOWEVER his trashing of Rep. Thomas Massie (R-KY) is absolute Bull Scheiße!
    Massie wants CONgress to do it’s job and I absolutely agree.
    Rant Off

    Like

  22. Jerry Hodge says:

    What are the odds that DJT’s legacy will be to exit the presidency with many similarities to GW’s: massive economic downturn; massive increase if Federal Debt; massive regulatory intrusion by the Feds into the market economy; and massive Fed Reserve involvement in many financial sectors.

    The Virus is not Trump’s fault, much like the 2008 financial meltdown was not GW’s, but the story could very end the same way where we end up with BO 2.0.

    For the sake of our country, pray for a quick turn around of the virus, the economy, and Fed expansion.

    Like

  23. Jeff says:

    I’m not clear on this. Does everyone get a check, or just those in the affected industries?
    I have a job. I’m in the trucking business. I’m not going anywhere (well, figuratively speaking of course).
    A quick aside: I ask people, “What’s the oldest profession?” Contrary to public belief, it’s not THAT. Long before that, people needed goods moved from here to there. Trucking is the oldest profession.
    Anyways, back to it. I have a steady paycheck coming in. Sure, it would be nice to have a little extra cash thrown my way, but I don’t NEED it. Others do need it. My neighbors, for example, of whom I commented a day or two ago. They’re on the sidelines for the duration, nothing coming in.
    If I get a check, I’m not going to keep it. I’m going to put it where I think it will do some good. My neighbors, perhaps. After all, they are cat people, so….
    As my favorite President says, “We’ll see.”

    Like

  24. Ned Zeppelin says:

    This is a great summary of the payroll protection program. Essentially free money for 8 weeks of payroll plus other “regular” expenses. DJT and Mnuchin just gave us a two month reprieve from having to shutter businesses. Let’s hope the Democrat/MSM combine determined to wreck our economy fails well before that.

    https://www.natlawreview.com/article/paycheck-protection-program-sba-loan-program-expanded-cares-act

    Like

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