Welcome, everybody. Today, i will our select subcommittee is focusing on hearing were some members will appear in person and others may appear remotely via webex. Since members are appearing in person, let me first remind everyone that pursuant to the latest guidance, all individuals attending this hearing in person must wear a Face Covering. Guids attending this hearing in person must wear a Face Covering. Wearing a Face Covering are not permitted to remain in the hearing room and will not be recognized to speak. Let me also make a few reminders about hybrid hearings. For those appearing in person who will be able to see members appear remotely on the two monitors in front of you. On one monitor, you will see all the members appearing remotely in once, in what is known webex as view mode. On the other monitor, you will see each person when they are speaking, including other members appearing remotely. You can also see each other, each person speaking, during the hearing, whether they
92. 24. Mnuchin setretary to testify before the house subcommittee investigating the federal response to the coronavirus pandemic. With us now to discuss is Agf Investments chief u. S. Policy strategist greg valliere. We will hear from the treasury secretary. He will be asked about additional stimulus. We are hearing republicans are pulling together some sort of stimulus but there is even opposition to that. Thathappens next, given apart from small state aid, the aide is running out for individuals . Greg nice to see you. I think we are getting close to the time where mnuchin will have to get really serious, the same with nancy pelosi. The anecdotes are getting ominous. More evictions, people fixing bankruptcy, peoples finances in terrible shape. The president does not need this before an election. Frankly, i think nancy pelosi has to recognize people are hurting and she needs to take what she can get. Vonnie if you were to call it now between the 500 billion planned by many republican
Welcome, everybody. Today, i will our select subcommittee is focusing on hearing were some members will appear in person and others may appear remotely via webex. Since members are appearing in person, let me first remind everyone that pursuant to the latest guidance, all individuals attending this hearing in person must wear a Face Covering. Wearing a Face Covering are not permitted to remain in the hearing room and will not be recognized to speak. Let me also make a few reminders about hybrid hearings. For those appearing in person who will be able to see members appear remotely on the two monitors in front of you. On one monitor, you will see all the members appearing remotely in once, in what is known webex as view mode. On the other monitor, you will see each person when they are speaking, including other members appearing remotely. You can also see each other, each person speaking, during the hearing, whether they are in personal remote, if you have your webex set to active speak
Clock to show you how much time is remaining. All members and witnesses need to be especially mindful of the fiveminute clock. At 30 seconds remaining ill , gently tap the gavel to remind members their time has expired. To simplify the speaking order process, the commission has decided to order ourselves alphabetically. With that, welcome to this virtual hearing convened by the congressional oversight commission, pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As part of our oversight work, the commission has decided to hold this hearing today which will examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support lending to small and mediumsized businesses, and nonprofit organizations that were sound before the covid pandemic. The program operates through five facilities which we will learn more about this morning.
Mr. President , this is a commonsense piece of legislation. It does not saddle Small Businesses, American Business with a new mandate that they dont have a great deal of confidence and then they would actually be funded 100 by the federal government. By the way, the house bill doesnt fund this 100 , it leaves gaps, and it would definitely be temporary and utilize an existing program in the states, sitting on top of it providing federal support for the workers that are going to actually need it as we go through this unprecedented event in our nations history. With that, mr. President , i yield the floor to the senator from pennsylvania. The presiding officer the senator from pennsylvania. Mr. Toomey thank you, mr. President. And i want to thank the senator from wisconsin for leading on this effort. I rise in strong support of this amendment, mr. President. The two of us, and i expect most everybody in this chamber, fully support the idea, the goal, the need to provide relief to workers