“WASHINGTON (AP) — Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging. Democrats were unconvinced, however, saying that Mnuchin’s actions are politically motivated and take away tools that the Biden administration could use to support the economy. Mnuchin argued that the programs he decided not to extend into next year were being lightly utilized and the more than $400 billion allocated for those Fed loan programs could be better used elsewhere if Congress moved the funds into relief programs for small businesses and unemployed workers. Democrats aired their criticism Tuesday as Mnuchin and Federal Reserve Chairman Jerome Powell testified at a Senate Banking Committee oversight hearing about the $2 trillion CARES Act approved by Congress last March. Powell, as he had before, urged Congress to authorize further economic support, something that lawmakers have been struggling to do for months. A bipartisan group of lawmakers pressured congressional leaders Tuesday to accept a compromise to end the impasse on COVID-19 relief before Congress adjourns for the holidays. The group including Senate centrists such as Joe Manchin, D-W.Va., and Susan Collins, R-Maine, are pushing a $908 billion, including $228 billion to extend and upgrade “paycheck protection” subsidies for businesses for a second round of relief to hard-hit businesses like restaurants. It would revive a special jobless benefit, but at a reduced level of $300 per week rather than the $600 benefit enacted in March. State and local governments would receive $160 billion, and there is also money for vaccines. Powell said Tuesday that the way to think of the additional relief was as a “bridge” to get the economy from the current situation with rising virus cases to a period when the vaccines will be widely distributed.” “We can see the end. We just need a way to get there,” Powell told lawmakers.
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["Former Defense Secretary Jim Mattis is trying to save President Donald Trump’s massive weapons sale to the United Arab Emirates as skeptical senators worry about the country’s brutal track record across the Middle E...
Kayleigh McEnany Defends White House Holiday Parties Amid COVID Surge
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["Coronavirus infections and hospitalizations are surging to record highs, but President Donald Trump will carry on with White House holiday gatherings as usual, press secretary Kayleigh McEnany said Wednesday. Her co...
Trump Lawyer Jenna Ellis Defends Truth Using Fake Teddy Roosevelt Quote
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["A top legal adviser to President Donald Trump’s campaign is attempting to defend truth and honesty ― by using a quote falsely attributed to President Teddy Roosevelt. Jenna Ellis posted a photo on Twitter Tuesday n...
People Think Mnuchin Accidentally Said Trump Admin’s Most Honest Thing About COVID-19
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Vince Vaughn Defends ‘Cordial’ Handshake, Conversation With Donald Trump
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["When it comes to greeting political figures in public, Vince Vaughn recently insisted his approach is nonpartisan. Recalling a controversial encounter he had with President Donald Trump at the beginning of this yea...
Kris Jenner Defends Kendall Jenner From Vicious Pandemic Party Backlash
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["Kris Jenner is attempting to excuse her daughter’s not-so-model behavior. The “Keeping Up With the Kardashians” momager appeared on SiriusXM’s “Radio Andy” with Andy Cohen on Monday to discuss ― and defend ― Kendal...
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["In the ever-changing hierarchy of Hollywood white guys named Chris, one day you’re on top and the next day you’re Chris Pratt. The “Guardians of the Galaxy” actor bottomed out in a recent internet ranking that plac...