and then it will be too late with the ppp. do you recommend a safe harbor where people are waiting for the program that could be excluded late in a game. >> and as the requirements and then that could be reduced. there is a challenge there. it is just our proposal but the challenge there is >> if anybody else wants feedback you can take 30 seconds of my time. >> i would consider that also to extend the deadline for those industries that are eligible for that. >> i yield back. >> and now we recognize the vice ranking member of the committee for five minutes. >> ppp was designed to help small businesses during covid-19 to keep employees on payroll only to be eight weeks long to sustain businesses during short-term lockdown. my colleagues on the other side are focused on expanding the program for political gains for political members and planned parenthood to prioritize businesses to use this as a lifeline. it is responsible for congress to continue expanding ppp as a target specific industries hit hardest by the covid restrictio

first, ppp oversight. given the immediate need for ppp loans, limited safeguards for approving those loans have been introduced. because ongoing oversight is crucial, we recommended in june 2020 that they develop plans to assess ppp risk. sba has since developed plans to review ppp loans that provided detailed information about the oversight process. second, some vital data. we reported in january 2021 that sba provided about 5000 advances, totaling about $26 billion, and approved at least 3000 loans, totaling about $156 million to support businesses. therefore, we recommended sba conduct portfolio -- to detect potentially eligible applications. third, assessment of fraud risk. although sba has taken some steps to mitigate fraud risk to ppp and idle, such as conducting ppp loans use and implement new idle controls, they have not conducted a formal fraud assessment in the program. suspicious activity reports. from april to october 2020, financial institutions filed more than 21,000 suspicious activity repor

we recommended in june that sba assess ppp risks. we have plans to review ppp loans. we have detailed information about the oversight process. sba has provided 5000 advances. we approved at least 3000 loans, totaling $156 million to ineligible businesses. we recommended conduct an analysis to detect ineligible applications. has taken some steps to mitigate progress, such as conducting loan reviews and implement an no controls, the agency has not conducted a formal fraud risk assessment for either program. from april through october 2020, natural institutions filed 21,000 suspicious activity reports reported -- related to ppp. financial institutions filed 20,000 reports reported to idle. two department of justice charges, the department of justice publicly announced charges in over 105 related cases. that is associate with ppp loans. we have just heard from the inspector general. this points to his report in august that the initial review revealed indicators of widespread fraud in the program. i will move to the financial statement audit. in december 2020, the statemen

so we want -- there's a good reason to allow those people to apply for ppp.over, the idea is not that you get randomly published in perpetuity, the idea is you've paid your penance and you're done. if you have a felony conviction and you've started a small business, you're doing basically exactly what society would ask of you. so why wouldn't we help these people? they've over come such odds and they may be creating jobs for someone else. so i personally was very pleased to see both those changes. >> and if you are a sole proprietor, if you are an entrepreneur on your own, there are a few more advantages for you now. >> yeah, if you are a sole proprietor, they've changed the way you can calculate the amount you get. it's a little complicated but the problem is for sole proprietors, their revenue is close to being their income so they are now allowed to get help based on the total amount of sales basically that their business brings in and not just the amount that counts as profit. changing this should solve some of the problems we had last time where business

reportero: ela para la seÑora alicia, el que aprobara el prÉstamo ppp fue indispensable para sacar a el programa ppp de ofrece dinero para pequeÑos negocios con un seguro ser vÁlida que han sido afectados por el coronavirus. quienes califican, las empresas o trabajadores independientes que gastan el 60% de sus ingresos en nÓmina los trabajadores independientes son sus propios empleados, de lo tanto tambiÉn califica. >> los requisitos es que el negocio estÉ operando antes del 15 de febrero de 2020 siempre y cuando los niÑos sean residentes legales con ciudadanos. reportero: puede contratar a una organizaciÓn de san francisco lo pueden orientar con el proceso de solicitud y evitar que rechacen su solicitud por simples errores. >> los errores que hemos visto es que no ponen las iniciales en la parte de abajo de la aplicaciÓn tambiÉn hay una pregunta que mencionas y todas las personas son residentes de estados, muchas personas contestan esa pregunta por la administraciÓn a mi anuncio que se darÁ prioridad a los negocios mÁs pequeÑos con 20 empleados si aplican antes del 9 de marzo. si no

access ppp in a timely basis. and we appreciate your question. thank you for asking. uest >> thank you. >> ion you,yes, you're welcome. my next question is for you, joel, and i'my. sorry, i'm usin first names today, i'm being a little personal here. the proposed state small business credit initiative amendments allow the secretary s of treasury for the first a tim in history to determine if a state's laws allow predatory git lending. lending in usury laws have historically been the product of state legislatures. my state of wyoming even has a usury cap. isn't this another example of washington taking away thank decision-making power that individual states already know how to use best?ing. >> yes, thank you for the question, senator, and i just ti had as wonderful visit to exoming, by the way. but yes, this is troubling. this is another example of the f federal government trying to gre determine what business o practices should be in individual states.ding, and of course all of us would likely agree on this idea of

over $3 million worth of ppp money. the producer of the godfather, he got -- he has got two companies. they got $8.5 million. when these bills are rushed, there is a lot of waste. host: is their wasteful spending in this bill? point to a couple of things you think should not be there. guest: there are billion dollars pieces of waste and million dollars. let's take $1 million piece of waste. we identify a new part for federal workers. there are cash payments for individuals. if you are a federal worker and if your child costs school is not -- your child's school is not open, the perk says you can stay home and take care of your child and you get the equivalent of $1400 a week for 15 weeks, up to $21,000 paid to stay home. we know the average federal worker makes over $100,000 a year on cash compensation. you already get 12 weeks of unpaid time off for family leave. if you are on the job for three years, you have 43 days of paid time off. that is holidays, sick days, vacation days. almost every week, if you are a federal

last year, the loans given out in ppp were disproportionate.e of rate of loans for ppp were given out in white areas than were in areas that had more of a minority population. now, why is that? i think you heard some of this in the tape. banks are a big factor. we know that banks have more relationships with white businesses. j.p. morgan chase had an analysis last year that found that, in fact, disproportionately, minority-run businesses do not have financing the way that white businesses do. also, minority-run businesses, we know in the case of the hispanic chamber of commerce, they say they're smaller, an average of three to five people per business, sometimes just sole proprietors. and, now, congress realized this in december, made some changes to the ppp program that have gone into effect this year. and watchdogs i have talked to think that this disparity actually has improved, that things are getting better. one note, especially for sole proprietors, if you're a sole proprietor and you didn't feel like you could get ppp last year, the rule

, a lot of loan packages as well as documentation gathering to access ppp in a timely basis. we appreciate your questions. thank you for asking. >> thank you. my next question is for you, joel. i'm sorry i am using first names today. the proposed state small business credit initiative amendment allows the secretary of treasury for the first time in history to determine state laws allow predatory lending. lending usury laws have historically been state legislatures, i state of wyoming even has a usury cap. another example of washington taking away decision making power for individual states already know how to use them. >> thank you for the question. i had a wonderful visit to wyoming. this is troubling, another example trying to determine what business practices should be individual states and all of this would likely agree on this idea of predatory lending, we wouldn't be covered but the details are important. what is the definition and states have gone to great length for them, what types of lending practices, branded? using this as a tool for whatever definition of the adm

ya falta menos de una semana para pequeÑos negocios soliciten prÉstamos federales ppp.: para la aprobaciÓn d crÉdito fue muy importante. >> todo lo que entrÓ por el prÉstamo fue sagrado y sÓlo para nÓmina. reportero: el programa federal ppp proporciona prÉstamos para pequeÑas empresas y trabajadores independientes con seguro social vÁlido, que fueron afectados por la pandemia. los trabajadores independientes son sus propios empleados y tambiÉn califican. >> uno de los requisitos es que el negocio estÉ operando antes del 15 de febrero de 2020. reportero: puede contactar con la organizaciÓn meda en san francisco. >> los errores que hemos visto son sobre las iniciales en las preguntas de la parte de abajo de la aplicaciÓn. hay preguntas sobre la residencia de las personas y muchos contestan que no. reportero: la administraciÓn biden anunciÓ prioridad para negocios pequeÑos de menos de 20 empleados para hasta antes del 9 de marzo. todavÍa podrÁ enviar la informaciÓn hasta el 30 de marzo, pero competirÁ con otras empresas. ramÓn: por otro lado, 2.000.000.000 $ han sido asign

. >> reporter: which has drained 50% and her ppp application hit a road block.h six employees, she's eligible for the current two-week application period. the biden administration set aside for small businesses with less than 20 employees. but as the sole proprietor, she had been waiting more than a week on new application rules the small business administration just announced in order to move her loan forward. >> what i can't actually understand is that the government would make new rules and not understand that this two-week window and these new rules would cause a conflict. >> reporter: until then, she waits, and so does diane bondera. she's a one-woman photography company with a 25-year career in new york city. >> my photography business definitely relies on people gathering. >> reporter: without that, she's down 88% in revenue. she's been waiting over a month for news of her ppp loan. >> these are the things that keep me up at 3:00 in the morning wondering what i'm going to do. and if i don't have the funds to stay here, i may -- i may have to leave. >> rep

and making sure the ppp loans would actually get to small businesses.i have discussed, paypal distributed over $2 billion in small business loans and our focus was -- and that went to 76,000 small businesses. and our focus was to make sure that we were able to help make sure that the ppp loans got to actual small businesses. the average size of the loan that we distributed was around $28,000. and 75% of our loans were $25,000 or less. we figured that through this distribution, we helped to save over 300,000 jobs. and that, i think, is a -- the kind of partnership that we need where those of us in the private sector that have particular capabilities, and in this case, we are connected to small businesses, we serve small businesses, we work closely with small businesses, being able to participate and make sure that loans got to those in high need was a really important -- was really important to us and i think important to the communities that we were able to reach. >> franz, let me pick up on that. the c.a.r.e.s. act did, in fact, provide for paycheck pr

loan, is that ppp loan taxable?st: that is such a loaded question. the ppp loan, for those who have a small business and they are not sure what the ppp loan was spent on, what are the requirements to use the loan, those folks, if they are a small business and received the money and are not sure how to do their taxes, the best advice we can give is to seek out a tax professional to help them. host: let's talk to bill who is calling from sandy hook, connecticut. good morning. caller: thank you for taking my call. i am dealing with the irs about the social security benefits worksheet. we went over it several times and the math is correct. the irs said they came out with a higher calculation the nike met with and they -- then i came out with. i am just wondering if ms. colli ns could maybe highlight something i might have overlooked or is in publication 915 that would address my problem. guest: great question. as far as the calculation, whenever they say that they have a different calculation than you, did they provide

we've approved nearly 200,000 loans to first-time ppp borrowers which represents a 25% increase. there's been a 20% increase in loans to minority-owned businesses and that translates to an an additional 1,000 minority-owned businesses with access every day. there's been a 14% increase in loans approved to women-owned businesses it, which translates to an additional 600 women owned businesses every day and 12% increase in loans approved to businesses in rural areas. that's not all. on february 22nd the president also announced several other changes to expand access to ppp and as of last friday, the sba had implemented all of these changes and we're already starting to see early momentum from those changes as well. for example, nearly 30,000 loan applications had previously been flagged because the small business owners were delinquent on federal student loans. we removed that restriction and can now advance those applications. tens of thousands of new applications have already come in after we increased the amount of radio leaf available to sole proprietors and self-employed. i wa

and her ppp application hit a road block.r the current two week application period. the biden administration set aside for small businesses with less than 20 employees. but as the sole pry priter, she had been waiting more than a week on new application rules the small business administration just announced in order to move her loan forward. >> what i can't actually understand is that the government would make new rules, and not understand that this two-week window and the new rules would cause a conflict. >> reporter: until then, she waits and so does diane bondera. she's a one-woman photography company with a 25-year career in new york city. >> my photography business definitely relies on people gathering. >> reporter: without that, she's down 88% in revenue. she's been waiting over a month for news of her ppp loan. >> these are the things that keep up me at 3:00 in the morning wondering what i'm going to do. and if i don't have the funds to stay here, i may have to leave. >> reporter: the sba which processes ppp loans said

this is in addition to the aid already being distributed via the ppp. back over to you. >> and how much, kate, of the ppp is left? how are restaurants going to benefit? >> well, restaurants can borrow a bit more under the ppp than other businesses there's still more than $100 billion so quite a bit of aid there left up for grabs. these grants will really be another vehicle for businesses to continue to recover but this fund is really just a fraction of what the national restaurant association and other advocates were calling for they wanted much more money, and believe more money will need to be needed for restaurants around the country. >> kate, thank you very much kate rogers. court. >>> well, pot stocks are pulling back right now the group jumped yesterday on hopes for legalization in new york state as more and more states come online, the cannabis industry has become an area that people are looking for for growth, especially women we'll have that story coming up on "power lunch. >>> plus a check on disney, down nearly 2%, coming off last week's news

. >> reporter: which has drained 50% and her ppp application hit a roadblock. eligible for the current two-week application period. the biden administration set it aside for businesses with less than 20 employees. but as the sole proprietor, she had been waiting more than a week on new application rules the small business administration just announced in order to move her loan forward. >> what i can't actually understand is that the government would make new rules and not understand that this two-week window and these new rules would cause a conflict. >> reporter: until then she waits and so does diane vonderaf. she's a one woman photography company with a 25 year career in new york city. >> my photography business definitely relies on people gathering. >> reporter: without that she's down 88% in revenue. she's been waiting over a month for news of her ppp loan. >> these are the things that keep me up at 3:00 in the morning wondering what i'm going to do, and if i don't have the funds to stay here, i may -- you know, i may have to leave. >> reporter: the sba wh

in a statement, the school wrote menlo school did not apply for ppp funding as we did not feel that wasvernment program intended. that wasn't the case for st. ignatius. the private kat click school in san francisco that has a $23 million endowment received close to $5 million in ppp funding. that averages out to around 3100 per student, where as the avenue public school student in san francisco received close to half that. si told abc7 the loan allowed the school to keep employees on payroll, help continue scholarship and financial aid programs, and made it possible for students to return to campus by november 9th. the school wrote we are fully aware this is a loan, and we have every intention of paying it back as required. >> there is a real use for the ppp for payroll, right. at these private schools. i think the difference is the resources that were already in place, the size of the students, the fact that they're not unionized. >> reporter: while private schools like bentley and si are back in the classroom, the oakland and san francisco unified school districts are still debating.

that first wave of ppp loans was very helpful to allow us to do that.usly that was not cost-effective, but we felt like we had to do that for our employees. we're still struggling because we did -- our retail business has actually increased over the course of the pandemic. i think people know there is a little bit of a hardware boom. a great portion of our business is actually government sales and commercial sales, and fort the first four or five months, that was completely gone. it was about 60% of our annual revenue. >> one of the reasons why i changed the rule for 20 days is only employers with 20 or fewer employees could qualify for ppp, and that's because so many went out of business. we found out an awful lot of that went to bigger businesses that weren't supposed to qualify because there used to be a thing called inspector general to see where the money went. the last administration fired the inspector general, so a lot of money went to people who shouldn't have gotten help and it didn't go folks who -- but, you know, with this new program, and w

most shockingly they want percentage of the ppp payroll payments even though it is payroll. they want a percentage of any insurance settlements due to pandemic losses and percentage of any selling price if you give up and sell your business. this is what we are facing. we need your help. we need legal help and we need financial help. thank you. >> i am a staff member. i just wanted to say that we really need the city to support small businesses with commercial lease relief and assistance. it is essential to the economic recovery of our district as well as the financial stability of our businesses. small businesses need tools to navigate lease negotiations. a lot of businesses don't understand leases and laws that protect them. they need accessibility and clarity. of course, that takes into consideration culture and language and i just feel that the city needs to do more outreach to the businesses so they understand. we are doing a lot of work here in the latino culture district. we need the city to support any future rent relief. >> public comment is closed. if you have any

ppp. there's tremendous economic and strategic arguments for doing so and that and i also prepared to argue there could be climate reason for doing so. as for china, it is anything but a supporter of the status quo. xi jinping's china is fundamentally different than the china of his predecessors. it is a stronger, wealthier, more repressive and more assertive. for all that i do not think it is useful to use a cold war framing for our relationship simple because china is so different than the soviet union was. as result of response will need to be different. the priority for our foreign policy to be shaped china's behavior particularly its extra behavior if we should be imposing costs were we must and encourage cooperation where we can. toward that end i believe and despite what happened in the last 24 hours, a private sustained strategic dialogue is in the interest of the united states, not as a favor to china as a tool of american national security. consistent with that i believe regime c

ppp access isn't equal across the state.an a year into this and there are still health care workers reewing ppp designed to just be used once. this issue of burnout amongst health care workers is not brand-new. it wasn't just because of the pandemic. it's a long-standing issue of fatigue as far as moral injury. and we're going to need more investment in health care workers to make sure they have those basics, everyone's getting vaccinated as they should be, they're having their ppp and the psychological support is there and for the long term. this has been like a war for health care workers and such a backlash as well from members of the public who thought doctors are spreading hoaxes or pushing vaccines. that's been really difficult to witness. of course, we've lost hundreds of health care workers to covid-19 as well. i see long-term implications to this. and we're going to really need to make sure we give health care workers the support they need. >> yes, indeed. thank you so much for touching upon that. dr. yasmin, really

follow the reporting of linda feldman by going to c >> tuesday, president biden signed into law the ppp extension act of 2021. watch live coverage at 2:00 p.m. eastern on c-span, online at c-span.org, or listen on the free c-span radio app. >> c-span's washington journal, every day we take your calls live on the air on the news of the day, and discuss policy issues that impact you. tuesday morning, diana pursed stock rock, former deputy assistant transportation secretary for research and technology in the trump administration, and joseph kane from the brookings institution. also, issues related to the 2020 tax filing season including distribution of stimulus payment. watch "washington journal," live at 7:00 eastern tuesday morning, and join with your phone calls, facebook comments, texts, and tweets. >> state and local officials testify on how they are handling domestic terrorism threats and prosecutions. witnesses include the attorneys general from michigan and nevada , and the district attorney from milwaukee county, wisconsin. this house homeland security subcommittee hearing is an h

the ppp loans.asinos, for my restaurants, for my hotels they spend the money >> right, but you said a moment ago, you know people who have lots of money who got those $2,000 stipends or now it's going to be a $1400 check. i thought only people getting, or earning $75,000 or less got that money wasn't that the way it was supposed to work >> i don't think it's right. i don't think they're right there. i know people that earn a lot of money that have gotten checks. what the government says and what happens isn't always the same thing you know people that have gotten it there's people in that studio with you right now that have gotten it. >> there probably are and i know businesses that kind of didn't need the ppp loan, including some non-profits that took advantage of that to help their payrolls justifiably or not justifiably. let's look at your businesses. are they coming back the way you would expect >> you know, i'm only getting pieces of you right now, but they've got to get the money in the right

now, fortunately the american rescue plan included 7.2 billion for ppp loans and a second draw ppp loans. but if congress doesn't reauthorize the program in the next several days, that money will never reach struggling small businesses, so, i think it would be reckless and cruel to let the program expire when there are still about 50 billion of desperately needed. about pp funding remaining and businesses waiting for relief. so i'm glad that hear that you agree that it should be extended. the center on budget and priorities march 1st, 1300 adults behind rent and additional 10.3 million adults behind on their mortgage payments. the brunt is felt in minority, 33% of black renters, 20% of latino renters, 16% of asian renters say they were behind on their rent compared to white renters. the 25 billion in rental assistance, nearly 10 billion in home owner assistance and 100 million in housing counseling to help renters or home owners avoid eviction. chairman powell, you said when there's a real crisis, quote, don't stop until the job is done, closed quote. would you say that current mortgage

you know, kind of the offshoring of all of our ppp. those kinds of things. the most heartbreaking of all of it was people who were not able to get their unemployment insurance in the middle of a pandemic. so part of what we have to do as leaders of congress is make sure that we are better prepared in the institutions and areas of government are ready to be modernized so that the next time that this happens we are no, much better place. mr. dodaro, we have had this conversation before. every time we talk, the issue of health care costs comes up as a significant part of the budget, that kind of squeeze out other investments we have to make. we have made other conversations about investment, and using food as medicine and those kinds of things, can you give us a little bit of information on some of the information that you may have on the modernizing of our health care system and our food system to help point us in the right direction? >> yes. i mean there is definitely, as you point, out the pandemic has sort of stressed a lot of systems and frailties. certain

[inaudible] >> on the president statements i believe he was referring in the previous round of ppp in the previous administration there were documented problems from the inspector general and the small business administration. tens of thousands of companies that were not eligible for pdp ended up receiving it. in part that was because the previous administration did not put any checks in place on the front end. in other words when the application was received to make sure these are eligible companies. we have changed that. there is now significant upfront checks to make sure any application that is submitted meets the criteria for the program. at the same time that we have instituted those we are still processing nearly one 100% of applications within 48 hours. we've tried to find the right balance between making sure folks are not eligible don't get the relief. but the people who are eligible get it as as possible but we think that's a significant change from the previous administration. on inflation is something the president said as secretary yellen has said, we are monitoring care

y faltan pocos dÍas para que pequeÑos negocioscon 20 empleados soliciten los prÉstamos federales ppp.olicitar este dinero.julio nos explica cÓmo funciona este proceso y cuÁl es la fecha clave que tiene que tener en cuenta. >> de verdad el coronavirus nos afectÓ bastante. >> para lasseÑora alicia que le aprobaran el prÉstamo fue indispensable para sacar a su restaurante adelante cuando fue afectado por la pandemia. >> lo poquito que entre aÑo pasadofue sagrado. especÍficamente para nÓmina. >> este programa federal proporciona prÉstamos a pequeÑas empresas y trabajadores independientes con un seguro social vÁlido que han sido hace hados financieramente por el coronavirus. quienes califican? empresas o trabajadores independientes que gastanel 60% de sus ingresos en nÓminas. los trabajadores independientes son sus propios empleados. por lo tanto tambiÉn califican. >> de los requisitos que piden es que el negocio haya empezado o estÉ operando antes del 15 de febrero de 2020. siempre y cuando los dueÑos sean residentes legales o ciudadanos. >> puede contactar a una estaciÓn donde lo pueden

then you undersupply to aid without losing eligibility for a traditional small business grant to the ppp. so that's a change that our arts institutions, independent venues, theaters should know they can get get both ppe and save our stages. these venues, the small businesses of many types goen fr nonprofits, they are the lifeblood of our communities. they were the first to close. they would be the last to open. i'm hopeful that the support we passed in the american rescue plan will help our small businesses, our theaters and our music venues, our restaurants to hold on until we can all gather safely once again. that's not all. the american rescue plan provides $15 $15 billion ine targeted grants to help small businesses that have had a hard time accessing the leap over the last 12 months including most nonprofits and churches. up to 90% of minority owned small businesses will qualify for this funding, closing the racial gap and keeping local economies from deteriorating further. we invest 10 billion and state, local, and tribal small business financing programs. we expand the employee re

this bill calls for 7 billion in additional ppp money and 5 billion in grants for restaurants and bars>> gave us a lot of confidence that we would be able to make it through. >> perron voted for trump twice and said while this bill is needed, he's concerned the massive price tag could boost inflation. >> i think it's very scary and the value of our money is going to decline. >> barbara janikowski was a republican for 40 years but this past november disappointed with trump and the gop she voted for biden and changed her party registration. she's all in on the stimulus bill. >> i think it's great because people are hurting. >> reporter: she and her husband, both retired, say the previous $600 stimulus checks did little to help with bills. this time she says they can save some of their $1400 checks. >> we also keep that money in case our children need help. if they would run into problems, that stimulus money would go to them. >> the motion is adopted. >> reporter: zero republicans voted in favor of the bill. >> shame on them. >> reporter: what does it say about the future of helping amer

>> we set up the ppp program, small businesses received $600 billion of give up a loans and there arellion sitting in that fund for small businesses. what i am for his extending the march 31 deadline coming up rapidly and we need the biden administration and democrats to get on board to extend that. that's $100 billion that will not be utilized if we don't extend that march 31. if it's targeted, restaurants, those businesses on the brink of going out of business, i can work with. to add on another trillion dollars, we have absolutely calculated estimates for what state and local would need to be whole through their revenue loss for this during this pandemic. it's in the neighborhood of 150 to $160 billion. this bill gives state and local $350 billion. whoever is doing the math has an exaggerated sense of humor. the problem is it's not funny. this is going to lead to problems. sometimes i compare this to the making of the frankenstein monster. be careful what you are doing here. we will have inflation concerns, clearly skyrocketing deficits and payments necessary on our debt out of the

you cannot open up the schools very well because we did not have sufficient ppp and inmate are hospitals very nervous and or healthcare professionals and we are now building the stockpile for the future and not just where you have an inventory there that you open up and see that it's expired we will have it replenishedla regularly and that is one of the lessons learned and i think that the infrastructure in our public health system will be more vibrant when this is over with in the event that we have something similar to this in the future, both in terms of testing capacity but also just in terms of our overall infrastructure and professionals that are there in this pandemic has inspired many to go into public health and to go into medical profession and that is one of the benefits that we will be better positioned for that in the future. >> just a couple more questions on the pandemic. one is about your work with the federal government and i know you met with president biden at the white house in february and what are yourr asks right now to the biden administration in terms of getting

ppp wouldn't be enough to help this man who had to sell his brewery in campbell last year which was unable to reopen due to covid restrictions. >> my heart, also hurt my pocket, mostly my heart. losing your baby is, uh, tough. >> he still runs vin santo in willow glen and happy it stayed afloat. >> being a restaurant owner it's a lifestyle. >> reporter: while ppp money would be nice he jokes -- >> -- weather gets better so we can stop using the paper an, it's very expensive. >> reporter: in san jose, abc 7 news. >> senate approved that bill on party lines after a 25 hour marathon session that included dozens of votes on last-minute amendments and now moves back to the house. and we'll explain what else is in the bill for struggling americans. >> reporter: after a marathon session that went through the night the senate passed the $1.9 trillion covid-19 relief package early saturday afternoon bringing president biden closer to a big legislative win. >> i promised the american people help was on the way, today i can say we've taken one more giant step forward into delivering on that promise.

not ppp. ppe, personal protective equipment to the workers and businesses with one employee or more. and, um, this was initially introduced as emergency ordinance. it has been re-upped every 60 days and supervisor haney introduced it as legislation that will be in place so it doesn't have to go through the process of being re-upped every 60 days. but it does have a sunset date when it will end when the public health emergency ends. couple additional items to this legislation that were not in the emergency ordinance is that the businesses are required to reasonably and -- to reasonably allow a worker to reschedule their work in relationship to dealing with the pandemic. and, then, all businesses will be required to noted workers of the rule of this ordinance regarding being able to have the personal protective equipment. olsd is developing guidance and notifications is multiple language. and, so once olse has completed that guidance and completed that guidance and postings in the multiple langu

the hashtag ppp. is pete's power pitch.nce in 30 years so i'm with him on this one joker, joker and the triple. >> all right nicely done guys and nice white board and dark markers the traders have spoken it's now your turn to vote on our poll on twitter's poll on cnbc first, disney with an announcemt enon summer flicks when "fast money" returns. i got help from a pro. my financial professional explained to me all the ways nationwide can help protect financial futures in peytonville. nationwide can help the greens get lifetime income because their son kyle is moving back home and could help set up a financial plan for mrs. garcia. and he explained how nationwide can help mr. paisley retire early and spend more time with his pal, peyton. and their new band. exactly! yeah. don't forget the band. i haven't. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ ♪ ♪ ♪ cisco

bill those coming up in the six or 700 billion-dollar rangenn addressing he healthcare, unemployment, ppp, g for education some for state and local governments that i'm not for i waited rather cs take the dollars to put towards something more targeted or a formula that makes more sense. but in my view it's important we are circumspect. talk about borrowed money. this is the houses dollars. not just magic money that appears out of nowhere. every single dollar we are using is borrowed, will be added to the debt and will be a liability for somebody to pay back and if those impacts occur and interest rate startgo to take up it would be a lot more expensive into the future and that's a very real consideration not just because of the fiscal situation the country faces but the financial situation every american family to talk about the pocketbook issues if we see higher inflation and t interest rates it will affect their jobs and cost of living and make it harder for them to make ends meet. less than two months after the president committed himself to unity the first would be resolutely partisan

empresas de 20 empleados, que tienen hasta maÑana para solicitar los cheques de pago conocidos como pppsimismo. en los prÓximos dÍas se espera que el congreso termine de arrancar un proyecto de ley que propone un paquete de estÍmulo econÓmico que pronto podrÍa entregar cheques hasta de $1400. reportera: luego de que el senado federal a preparar el congreso vote una vez mÁs para apoyar este proyecto de ley que le llegarÍan los contribuyentes que declaran en dÓlares al aÑo, $150,000 para matrimonios. >> va a ser una gran bendiciÓn pagar por la renta. econÓmicamente les ayudarÁ muchÍsimo. reportera: de ser aprobado maÑana, y si el presidente lo convierte en ley los cheques serÁn depositados a partir de la primera semana de marzo, y las tarjetas de pago impacto econÓmico si bien a partir del 31 de marzo. segÚn expertos existen varios mÉtodos para recibir esa ayuda de forma mÁs rÁpido. >> quitas la recomendaciÓn mÁs rÁpida es que vayan y hagan su declaraciÓn de impuestos lo mÁs pronto posible. >> tiene su cuenta bancaria para que el preparador de taxes, directamente ponga esa informaciÓn aqu

a la pandemia deben enviar su solicitud, para poder recibir los prÉstamos federales conocidos como pppos con menos de 20 empleados y tienen hasta el 9 de marzo para poder enviar su solicitud para este prÉstamo. esto no significa aquellos no puedan enviar una solicitud despuÉs del 9 de marzo, sino que simplemente desde la semana pasada hasta el 9 de marzo los bancos van a revisar aplicaciones para este tipo de negocios. marÍa: la fecha lÍmite final que incluya negocios mÁs grandes es el 31 de marzo, sin embargo, la organizaciÓn meda recomienda solicitar estos crÉditos antes del modo de marzo, alienta a dueÑos Únicos o incluso contratistas independientes. >> un negocio pequeÑo que es una persona que se dedique a la limpieza de casas, puede ser un estilista, puede ser una persona que trabaje como uber, tambiÉn son elegibles para este programa. prÁcticamente cualquier persona que reciba el formulario 10 99 de un empleador o que ellos llene el formulario c. marÍa: segÚn aclarÓ el especialista, a pesar de que los impuestos se hayan declarado con un nÚmero de itin. >> la semana pasada sacaron

fortunately, the american rescue plan included $7.2 billion for ppp loans and second draw ppp loans. if congress doesn't reauthorize the program in the next seven days, that money will never reach struggling small businesses, so i think it would be reckless and cruel to let the program expire when there are still about $50 billion of desperately needed funding remaining in businesses waiting for relief. so i am glad to hear that you agree that it should be extended. the center on budget and policy priorities estimates that as of march 1, there were 13.5 million adults behind on rent and an additional 3.5 million behind on their mortgage payments. as we see throughout this crisis, the brunt of that pain is being felt in minority communities. 33% of black renters, 20% of latino renters, 18% of asian renters say they were behind on their rent. the american rescue plan included $25 billion in a rental assistance, nearly $10 billion in homeowner assistance, and one of my major priorities, 100 million dollars in housing counseling to help renters and homeowners avoid foreclosure or evictio

somewhat because of their strong commitment to ppp lending. as the banks continue to work with their communities, what factors will you consider in deciding how to address leverage ratio pressures and how much leeway will the banks get to adapt to these ad hoc conditions? maybe start with you, mr. chairman. chairman powell: on the community bank leverage ratio, that is something we will look at and communicate ahead of time. we are well aware of the stresses. sen. cramer: very good. secretary yellen, i'm one to ask you another question. you have made addressing climate change one of the central points of your time at the treasury. it has been reported that president biden's climates are john kerry has encouraged banks and other institutions to form a net zero banking allowance. -- alliance. he has also worked -- at the expense of more traditional energy products and possibly forcing institutions to put political and social considerations ahead of business practices. that would be a violation of their new sherry responsibility to their sharehol

this bill calls for 7 billion in additional ppp money and 25 billion in grants for restaurants and barse to make it harron voted for trump twice. >> it's very scary and the value of our money is going to decline significantly because of this. >> reporter: barbara was a republican for 40 years but this past november, disappointed with trump and the gop, she voted for biden and changed her party registration. she's all in on the stimulus bill. >> i think it's great. because people are hurting. >> reporter: she and her husband both retired say the previous $600 stimulus checks did little to help with bills. this time she says they can save some of their $1400 checks. >> we also keep that money in case our children need help. if they would run into problems, that stimulus money would go to them. >> the motion is adopted. >> reporter: sozero republicans voted in favor of the bill. >> shame on them. >> what does it say about the future of helping americans? >> then voting a long party lines was wrong because it was not right for america. it was not right for you. it was not right for me. it w

lawyers and doctors got from ppp.: they got hundreds of millions of dollars. there is a purpose to some payments, certainly. it might go down as the worst decision in the last 100 years, to do something that was never tried from a public policy standpoint before. that was a lockdown, when you shut an economy down, when you throw 40 million people out of work, there is an argument it is akin to eminent domain. specific to health care, there were multiple programs, not only from medicine, but from dentists , to keep the health care infrastructure of the country strong while the country focused on this pandemic. host: there is procurement fraud in the military. does your website cover that? guest: we want to do an oversight report on the military . we covered this a bit. we did a report on use it or lose it contract spending. -- we hired millions of dollars spent on lobster and snow crab at the pentagon. this led to hearings in the house with generals addressing the armed services committee, asking them to tie the approp

probably the first and last uncensored american war played the south vietnamese heather censorship in the pppthe -- it was for women, a gift. it's only because of my lack of codification this openness that women could get through what is the biggest barrier as a war correspondent you were not allowed on the field. >> journalist elizabeth becker sunday night at eight eastern on c-span q and a. you can also listen to q&a is a podcast where you get your podcasts.

, we were the number six lender in ppp, and certainly our business customers needed it desperately toport not only their employees but to keep their businesses afloat. in the second round, we're seeing strong volume a high number of businesses coming to us for round two and i believe across the industry were also first-time filers or applied for it the first time as well they're coming back for a second tranche in strong numbers and we're seeing that very robust volume right through obviously it's passed the house. we're watching it closely. i think this would be very good for small business and their employees and really good for the overall economy if we extend this out a couple months >> i guess just looking at ppp and what that's meant for the small businesses that have been able to access that funding versus some of the reports we're getting that there's something like hundreds of thousands of small businesses that still had to close their doors in the midst of this pandemic, when we get past this, we're on the other side of the pandemic and we're truly in this reopen economy, wh

in addresses the insurance ppp program. it deals with direct checks as i mentioned bruce got funding for education. i think somewh of funding in the for state local governments which frankly i said i am not for food i would rather see us take those dollars if they are going to put them somewhere, put them toward something that is more targeted, at least a formula that makes more sense. but let me just say in my view it's really important right now that we be circumspect. we are trying but borrowed money. this isr. now, this is house of dollars, mr. president. this is not just magic money that appears out of nowhere. every single dollar that we are using is borrowed, will be added to the debt. will be a liability for somebody to have to pay back for kids and grandkids. and if the potential economic impacts that i mentioned actually a current interest rate start to tick up, it is going to be a lot more expensive money to finance into the future. i think that's a really real consideration something wishfully thinking long and

meanwhile ppp loans just got more excessable joining me now small business consultant gene marx certify the marx group so gene forgivable loans we've come to know as paycheck protection program ppp loans extended through june 30th now if this is good news for small business owners, will they have trouble getting those loans like before? >> well arthel first of all i'm not sure they've been extended through june 30th yet so let me make sure that's completely accurate right now they expire at march 31st. you can get your loans in your application in by march 31st and goth promises they will fund those loans but the application deadline is still march 31 the good news is there's talk in congress right now about extending it for two months through may 31st but that's not official yet i want to make sure that's clear. arthel: good for clarifying that but you have to get most recent loan in by march 31st correct and further good news for small businesses i understand we're talking about tax incentives, explain that for us. >> so there are a number of great tax incentives that were around from

adam says when ppp loans didn't make it to black owned businesses. the community really stepped up. >> the community showed we work with a multicultural chambers of commerce. we've been utilizing all resources. they support our businesses. we support theirs. and i think that is working because we all kind of pulled together, even though it may see why it's not changing. i feel that it is. and i feel that with the partnerships that we've got. we're going to continue to to advocate for our businesses. adams was a part of a larger conversation with vice president kamala harris earlier last month out of that conversation. >> aetually came extra ppp assistance to businesses with only one employee previously that type of federal help was not being offered. so a big positive there. i'm going to have more on all of this coming up on kron 4 news at 5 as well as on our streaming service kronon you can download that for free in your app store back to thank, you know, while. >> next at 3.30, governor newsome had to say today about his comments regarding a potent