Trump aides say business-loan plan working, ‘pause’ comes next

first_imgTopics : The number of individual loans issued under the second phase — 2.2 million so far — exceeds the number issued in the first phase, according to a joint statement from Treasury Secretary Steven Mnuchin and Jovita Carranza, administrator of the federal Small Business Administration (SBA).The PPP relief funds, part of a larger package of emergency relief measures worth more than $2.7 trillion, aim to help keep the huge network of small and medium-sized businesses afloat until confinement measures linked to the pandemic are more widely eased. Some 30 million people in the US, a record, have applied for unemployment benefits since the beginning of the COVID-19 crisis. “It’s going to be very difficult in the months ahead,” White House economic adviser Larry Kudlow said on CNN. “The economy is still in a terrible contractionary phase, tremendous hardships everywhere.” But he insisted he was optimistic, pointing to forecasts of “a very strong second-half economic rebound,” possibly followed next year by “one of the fastest growth rebounds in American history.” ‘A pause’ He said the federal effort to shore up smaller and medium-sized businesses had been “an extremely popular and effective program,” and that “there may well be additional legislation.”As Congress and the administration study next steps, Kudlow added, “There’s kind of a pause period right now” of perhaps a few weeks.The administration and congressional leaders of both parties are already in talks on a next round of economic support, but their priorities diverge on several points.Trump would like to see the next round include tax breaks for workers and for the sports and entertainment industries, Kudlow said. The president also wants to see new spending for infrastructure upgrades across the country.But Democrats want greater oversight over the vast spending programs and oppose Trump’s efforts to insist states ban so-called sanctuary cities that provide protections for undocumented immigrants.The Trump administration has also been sharply criticized for funneling billions of dollars in the PPP’s first phase to large corporations that in principle should not have qualified for the conditional loans.Mnuchin and Carranza noted in their statement that the average loan provided in the second phase has been $79,000, indicating the money is going, as intended, to smaller companies.They said that since the first phase launched on April 3, the SBA has processed more than 3.8 million loans for a total of more than $500 billion.  The Trump administration on Sunday termed the second phase of an emergency job-saving program a success, with more than $175 billion in loans already issued to smaller companies and more likely after a “pause.”The two phases of the so-called Paycheck Protection Program (PPP) have provided a total of $669 billion, including $320 billion in the latest tranche. The program aims to preserve jobs threatened by the coronavirus pandemic, which has paralyzed much of the US economy.last_img read more

Couple renovate home to create more space throughout

first_img38 Gray St, Carina.SIMON and Margaux Short have renovated their Carina home, adding their own special touches to the property over the years.The couple have two kids and say they have outgrown the property.They have lived at 38 Gray St since 2010. The lounge area at 38 Gray St, Carina. 38 Gray St, Carina.Mr Short said a young couple would best suit the three-bedroom, one-bathroom property.Renovations over the years have included pulling out old carpets and polishing the floors throughout the home.They renovated the kitchen and bathroom, and added new carpets to the bedrooms.More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020“In one of the bedrooms, we put in a built-in wardrobe,” Mr Short said.“We rebuilt the deck and, downstairs, we put in a vegetable garden.”Mr Short said some of the walls downstairs were removed to create more space and open up certain areas.“The kids love playing down there,” he said.center_img The outside of 38 Gray St, Carina.The couple have moved to Springwood to be closer to their work.The property, which is on a 407sq m block with a 10m frontage, has a fully fenced yard with back gates to a local park.“With the new Minnippi Land Estate all but sold out, this could be your opportunity to land bank your own block close to the golf course at a fraction of the cost,” WJ Tobin Real Estate — Carina selling agent Pathrina Watson said.“The position may be all about living in a tranquil green setting, but it is also perfectly placed, close to so many local services too.“Regular and reliable city buses run along Old Cleveland Rd and both Westfield Carindale and Cannon Hill Kmart Plaza are each within a very short drive.”last_img read more

Carver hits out at Neville claims

first_img “I think it’s insulting and I think it’s wrong, especially from ex-players. I’m sure if they were playing now, they wouldn’t like the comments, as I didn’t. “What I did do was to inform the players about what these people had been saying. I thought it was important that they knew. Now it’s down to ourselves to show those people out there that we’ve not got our flip-flops on – although we might today, because it’s sunny!” Carver will attempt to disprove that theory on Saturday when Arsenal visit St James’ Park on the back of their midweek Champions League exit despite a 2-0 victory in Monaco, although he will have to do so with his squad having been reduced to the bare bones. Indeed, he will have only 13 fit outfield players from which to select his team, and just one specialist central defender following skipper Fabricio Coloccini’s unsuccessful appeal against his red card on Merseyside. He said: “The good news is that I’ve not got a selection problem tomorrow because I’ve only got 13 fit senior players, plus two keepers, so that won’t be too difficult. “There’s no sign of anyone coming back in the near future other than Mehdi Abeid, who is a week or so away. We’re working on Rolando Aarons, everyone else is more or less long-term. “Siem de Jong went outside for a work-out for the first time today, which was nice to see.” Meanwhile, Carver defended the decision to challenge Coloccini’s dismissal for a foul on Aaron Lennon despite the outcome. He said: “I spoke to some well known people in the game and they all said it was a yellow card. It wasn’t just out of hope, we genuinely thought we could over-turn it.” Newcastle head coach John Carver has hit back at Phil Neville’s suggestion that his players are already on the beach after their Barclays Premier League defeat at Everton. Carver was furious at comments made by the Match of the Day pundit in the wake of his side’s 3-0 surrender at Goodison Park last Sunday in which he voiced the opinion that some members of the Magpies squad “had their flip-flops on”. The 50-year-old said: “I was pretty angry when I heard it because he couldn’t be any further from the truth. center_img Press Associationlast_img read more