The Trump administration is in talks with Congress to secure an additional $250bn to fund loans for small businesses hit by the coronavirus pandemic, as pressure rose for more fiscal stimulus to help the US economy.
In a tweet on Tuesday afternoon, Steven Mnuchin, the US Treasury secretary, said he had spoken to Republican and Democratic congressional leaders about the extra money “to make sure small businesses get the money they need”.
Mr Mnuchin is seeking to bolster a $350bn government scheme that allows small businesses to receive loans backed by the Small Business Administration and keep the money if they retain the bulk of their workforce.
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