Treasury Secretary Mnuchin testifies on Capitol Hill

  • There is continuing signs on improvement on jobs
  • US is in a strong position to recover
  • PPP had some complications early on
  • Next stimulus should extend PPP loans
  • May Street lending program made 1st loan
  • Congress decided to waive some rules for PPP
  • He agrees money should be set aside for minorities
  • Forgiveness on small PPP loans should be considered
  • Remaining $132 billion in PPP funds should be used
  • Future PPP loans should have a revenue task, targeted at firms with significant revenue losses