Treasury Secretary Steven Mnuchin denied on Friday that he is attempting to limit President-elect Joe Biden’s options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve.
Treasury Secretary Steven Mnuchin said Thursday he will not extend several emergency loan programs set up with the Federal Reserve. The decision drew a terse rebuke from the Fed.
After approving nearly $3 trillion to help stem staggering losses for businesses and workers, Republicans say they want to see if that aid is sufficient as unemployment claims slow and shelter-in-place orders are eased.
Lawmakers are struggling to break a stalemate over President Donald Trump’s $250 billion emergency request for a small-business program, stoking uncertainty about when additional support will be available in a key rescue program now exhausted of funds.
The Trump administration says individuals and businesses will be allowed to delay paying their 2019 tax bills for 90 days past the usual April 15 deadline as the coronavirus appears on the verge of causing a recession.
President Donald Trump has issued an order for the government to end its 10-year conservatorship of the mortgage companies Fannie Mae and Freddie Mac.
