"You have to get more of these forgivable loans to small businesses, in NY (State) only 20% of eligible payrolls covered to date, it is 3 or 4 times that number in other states that are far less effected, the program (CARES Act) is already oversubscribed, the first thing we are going to do this week is double its size, so there will be another $350 Billion, or there abouts, most likely provided to Small Business Administration to continue making these small business forgivable loans".
That's Congressman Sean Patrick Maloney on SALRADIO Monday describing legislation expected this week to increase funding of Payroll Protection Program component of CARES Act during Covid-19 crisis.
Rep. Maloney represents the New York 18th Hudson Valley District provides an update on Covid-19 with Ken Kraetzer of White Plains based Sons of the American Legion Radio. Topics covered include:
- Current impact in 18th District covering Brewster, Poughkeepsie, Stuart, West Point, Monroe areas spanning both sides of the Hudson Valley.
- How area hospitals and nursing homes are doing.
- Support form military medical teams, Army Corps of Engineers, National Guard.
- Federal Stimulus program, Payroll Protection Program, additional support being considered.
- Importance of testing and protection resources
- Concern for actions of adversaries: North Korea, Iran, Afghanistan, China
- Preparedness of US military during crisis, carrier USS Roosevelt incident
-Three phase White House Plan announced last week.
Interview conducted by Ken Kraetzer for White Plains, NY based Sons of the American Legion Radio. Listen in at: