US, WASHINGTON (ORDO NEWS) — US Treasury Secretary Steven Mnuchin urged the Senate on Monday to quickly approve a large-scale package of economic support measures, saying that it is urgently needed to support small businesses, workers and companies in industries such as aviation, amid the outbreak of coronavirus.
The bill, whose approval process is ongoing, provides for state loans to small companies to pay employees within two months, and the debt will be written off if the companies allow employees to return to work, Mnuchin said in an interview with Fox Business Network.
Mnuchin added that the bill will be able to provide support for a crisis period of 10-12 weeks. If the situation does not improve, the administration will turn to Congress for additional help, the minister said.
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