Washington, D.C. – House Republican Leader Kevin McCarthy (CA-23) released the following statement on Secretary Mnuchin’s strategic decision to encourage resources be sent directly to small businesses:
“The law gives the Secretary of the Treasury the responsibility to manage how the emergency lending funds are used, including determining when they can be put to better use now that the CARES Act programs are nearing the end of their useful legal life. Secretary Mnuchin is right that the funds would be more usefully deployed as direct support to small businesses, and I’m hopeful that the Democrats will finally move on from their demands for trillions of dollars in unrelated spending so Congress can use this opportunity to responsibly act.
“If the need arises for new extraordinary lending programs at the Fed, it’s up to Congress to authorize those programs where appropriate.”