On The Money: Mnuchin, Schumer in talks to strike short-term relief deal | Small businesses struggling for loans | Treasury IG sends Dems report on handling of Trump tax returns

On The Money: Mnuchin, Schumer in talks to strike short-term relief deal | Small businesses struggling for loans | Treasury IG sends Dems report on handling of Trump tax returns
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THE BIG DEAL-- Mnuchin, Schumer in talks to strike short-term relief deal: Treasury Secretary Steven MnuchinSteven Terner MnuchinHillicon Valley: Twitter flags Trump tweet for 'glorifying violence' | Cruz calls for criminal investigation into Twitter over alleged sanctions violations | Senators urge FTC to investigate TikTok child privacy issues On The Money: Senate Dems pump brakes on new stimulus checks | Trump officials sued over tax refunds | Fed to soon open small-business lending program Schumer slams Trump's Rose Garden briefing on China as 'pathetic' MORE and Senate Minority Leader Charles SchumerCharles (Chuck) Ellis SchumerFederal judges should be allowed to be Federalist Society members Warren condemns 'horrific' Trump tweet on Minneapolis protests, other senators chime in VA hospitals mostly drop hydroxychloroquine as coronavirus treatment MORE (D-N.Y.) are in talks to avoid a nasty Senate floor fight between Democrats and Republicans that could leave a critical small-business loan program short on funds.

The Hill's Alexander Bolton breaks down the impasse and negotiations here.

 

The Trump administration has approved roughly $100 billion of the $350 billion allocated for emergency loans to small businesses devastated by the coronavirus outbreak, Mnuchin told lawmakers on Wednesday.

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But the figure has done little to ease the rising fears of smaller businesses still struggling to access the funds and growing cynical that the program can reach beyond the well connected.

The Hill's Mike Lillis breaks down the struggles facing small business owners who've been met with delays, confusion and uncertainty that the funds will ever arrive.

 

LEADING THE DAY

Massie threatens to block next relief bill, calls for remote voting: Rep. Thomas MassieThomas Harold MassieHouse holds first-ever proxy votes during pandemic House GOP lawmaker breaks with party to back proxy voting House adopts historic rules changes to allow remote voting MORE (R-Ky.), the libertarian lawmaker who single-handedly forced hundreds of his colleagues to travel to the Capitol last month to pass coronavirus relief legislation despite health concerns over the virus, warned Wednesday that he may again block future bills from passing without a roll call vote.

Massie warned that he will again object to passing an additional coronavirus relief measure through a process that only requires a handful of people present in the chamber and called for establishing a virtual voting system so that all lawmakers can make their individual positions clear.

The Hill's Cristina Marcos explains why.

 

EXCLUSIVE: Treasury IG sends report to House Dems on handling of Trump tax returns: The Treasury Department's inspector general's office on Wednesday sent a report about the department's handling of House Democrats' request for President TrumpDonald John TrumpDonald Trump and Joe Biden create different narratives for the election The hollowing out of the CDC Poll: Biden widens lead over Trump to 10 points MORE's tax returns to key lawmakers.

Deputy Inspector General Richard Delmar, who is currently the acting IG for Treasury, said in an email to The Hill that his office's "inquiry report" was sent to House Ways and Means Committee Chairman Richard NealRichard Edmund NealExpanding tax credit for businesses retaining workers gains bipartisan support House Democrats press Treasury on debit cards used for coronavirus relief payments House Democrats' bill would create a second round of direct coronavirus relief payments MORE (D-Mass.), who requested the report, as well as the committee's top Republican, Rep. Kevin BradyKevin Patrick BradyExpanding tax credit for businesses retaining workers gains bipartisan support Former Texas Rep. Sam Johnson dies at 89 On The Money: McConnell: Talking about fifth coronavirus bill 'in next month or so' | Boosted unemployment benefits on the chopping block | Women suffering steeper job losses from COVID-19 MORE (R-Texas).

The contents of the report were not immediately known. The Hill has reached out to Neal's and Brady's offices. Here's more from The Hill's Naomi Jagoda.

 

GOOD TO KNOW