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You are here: Home / News / Ernst says ‘gimmicks’ from Democrats block loan program expansion

Ernst says ‘gimmicks’ from Democrats block loan program expansion

April 16, 2020 By O. Kay Henderson

Senator Ernst.

The federal program providing emergency loans to small businesses has run out of money.

Iowa Senator Joni Ernst supports providing the program an additional $250 billion in federal funds.

“As of Tuesday, there were more than 22,000 loans that had been approved with small businesses receiving $3.5 billion so far,” Ernst said earlier today, “and that’s just the state of Iowa.”

Senate Democrats say they support putting another quarter of a trillion dollars in the small business loan program, but they’re asking for more money for hospitals as well as states and local governments hit with pandemic-related expenses. Republicans like Ernst say a discussion about that assistance can wait and the senate needs to quickly pass a simple bill that just provides more money for small businesses.

“No political gimmicks, just a simple ask to put more money in this program,” Ernst said. “Unfortunately, politics got in the way.”

Congress originally approved $350 billion for what’s called the “Paycheck Protection Program” since the small business loans will be forgiven if 75% of the loan is used to pay workers. The $350 billion ran out today.

Also today, Iowa GOP chairman Jeff Kaufmann blasted a pro-Democratic group for running an ad that criticizes Ernst. The ad features a doctor who’s the spouse of a former Iowa Democratic Party leader. Ernst is seeking reelection in 2020.

(Photo courtesy of Senator Ernt’s office)

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Filed Under: News, Politics / Govt Tagged With: Coronavirus, Democratic Party, Joni Ernst, Republican Party

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