Ways and Means Republican Leader Kevin Brady (R-TX) joined Brian Williams and Katy Tur on MSNBC to talk about the Paycheck Protection Program and how the federal government is working to help Main Street businesses:
“There are five separate committees and commissions on the CARES Act, plus all the congressional oversight. I think this will have more oversight than any congressional effort I’ve seen in my years in Congress.”
“There is nothing worse than allowing our small businesses to fail and close down. We have a fourth of them shut down right now, more will close and shutter if they don’t get the help they need. We have an awful lot of workers that work at the airlines, the defense industry, at our hotels and all. This was a cash flow crisis that we are injecting literally $2 trillion so they can keep their workers on board. I think it is a crucial investment to make.”
“The question is will it be enough money. That is where I think the President’s call for another $250 billion to make sure our small businesses can ride this out is crucial. Politics can wait, we can’t afford another delay, certainly our small businesses can’t. I’m hopeful Congress will pick that up and pass it this week.”
“Because so much of this economy has been shut down by state and local leaders, that has shuttered a lot of our local businesses. They need the cash, they want to keep their workers.”
“I never dreamed you could set up a major loan program for small businesses within seven days. Clearly, demand is huge. All the technical capacity wasn’t there, but it is getting there pretty quickly. Treasury Secretary Mnuchin has done a remarkable job of listening to our local lenders and small businesses, making those improvements, and they continue to.”
“There is always room for improvement. But in a world where we gave the Affordable Care Act four years to set up a website and that struggled, I think it’s remarkable that they are moving at this speed.”
CLICK HERE to watch the full interview.