U.S. Treasury’s Mnuchin says airline aid “next big thing” to be rolled out

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

WASHINGTON, April 9 (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Thursday that aid for airlines will be the “next big thing” to be rolled out after the Federal Reserve announced new lending backstops for smaller and midsize companies and municipal bonds.

Mnuchin, speaking on CNBC, said he will update President Donald Trump on negotiations with airlines on Thursday afternoon.

“We hope to get to a lot of the airlines starting tomorrow and over the weekend with preliminary information,” Mnuchin said. “And it is our objective to make sure, as I’ve said, this is not a bailout, but that airlines have the liquidity to keep their workers in place. So that’s the next big thing we’ll be rolling out.”

Mnuchin, who on Tuesday asked Congress for another $250 billion to supplement the $350 billion forgivable payroll loan program for small businesses launched last week, pushed back against congressional Democrats’ demands for more direct funding for hospitals and local governments as part of that request.

He said Congress should approve the additional small business funds first and address other needs in the next phase of broader coronavirus rescue legislation.

“We need more money for small business. The president has been very clear,” Mnuchin said. “He’d be happy to talk about other issues such as hospitals and states in the next bill. But we wanted to go and get money for the small business program, which again has enormous bipartisan support.”

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Show on the Rise Shows on the Air

What is the hottest shows of 2020? And, can it be said to be more unique than other television shows on the air today?...

What Happened to Netflix and Why Are People Canceling Their Subscriptions?

I've always loved Netflix, the idea of an internet streaming service is very appealing to me. After all, this service has been around for...

Alex Salmond to face Holyrood inquiry amid conspiracy claimson February 26, 2021 at 6:04 am

The former first minister is to appear before the inquiry into the government's mishandling of harassment complaints.The group consists of four SNP MSPs -...

Pupils in Wales return for first time in two monthson February 22, 2021 at 9:12 am

Most children have been learning at home since schools closed before Christmas.image copyrightLisa FreemanWales' youngest pupils are returning to the classroom in the first...

Mesothelioma Treatment – An Overview

Mesothelioma Treatment - An OverviewPeople that contract the disease called mesothelioma are at high risk for the development of additional cancers of the...
Home of Science
Follow me