Home Economy Sen. Cotton: Dems Must ‘Come to Their Senses’ on SBA Loans

Sen. Cotton: Dems Must ‘Come to Their Senses’ on SBA Loans

UNITED STATES - JANUARY 29: Sen. Tom Cotton, R-Ark., arrives for the Senate Select Intelligence Committee hearing on "Worldwide Threats" on Tuesday, Jan. 29, 2018. (Photo By Bill Clark/CQ Roll Call via AP Images)

Sen. Tom Cotton, R-Ark., called on Democrats to “come to their senses” on extra funding for the nation’s small businesses Monday, after a request for an additional $250 billion for the small business loan fund for companies hurt by the coronavirus pandemic did not pass the Senate last week.

“We put funding into hospitals and the state and city governments for their responses to this virus just in the same legislation a few weeks ago,” Cotton told Fox News’ “Fox & Friends.” “Unfortunately, the only program at risk of running out of money is the small business loans.”

The White House and Senate Majority Leader Mitch McConnell had pushed for the extra $250 billion, but Democrats blocked the measure, saying they wanted to add an extra $250 billion for other priorities, including helping businesses in disadvantaged communities.
More money is needed for hospitals and state and local interests, Cotton agreed, but as the demand is high for the small business loan program, that is what the priority should be at this time.

Meanwhile, Cotton is calling for China’s Communist Party to be held accountable for the coronavirus epidemic, writing in an opinion piece for Fox News that the Chinese had engaged in a cover-up on the disease.

“Let’s remember, that the China virus could have been a local health problem in Wuhan if the Chinese Communist Party had been transparent and honest and not been so corrupt from the very beginning,” Cotton said. “Instead, they unleashed a global pandemic.

“[There are] many ways in which China is going to pay for this pandemic. One will be the basic removal of fundamental manufacturing capacity from China, which they have used to get rich in recent decades.

“China should also face economic consequences beyond the loss of their manufacturing capacity, such as opening the court system up for victims of the virus much like we did for the victims of the 9/11 attacks,” Cotton added.

via newsmax

Leave a Reply