Latest Steven Mnuchin News

Senate Majority Leader Mitch McConnell of Ky., right, speaks with a reporter outside the Senate chamber on Capitol Hill in Washington, Thursday, April 9, 2020. Senate Democrats on Thursday stalled President Donald Trump's request for $250 billion to supplement a

Senators block new virus aid, Pelosi decries 'stunt'

Apr. 10, 2020 12:51 AM EDT

WASHINGTON (AP) — The Senate has twisted itself into knots over President Donald Trump’s new coronavirus aid request, as Democrats refused to rubber stamp his proposal for $250 billion more to boost small businesses, demanding modifications along with an additional $250 billion for health care...

Senate Majority Leader Mitch McConnell of Ky., right, speaks with a reporter outside the Senate chamber on Capitol Hill in Washington, Thursday, April 9, 2020. Senate Democrats on Thursday stalled President Donald Trump's request for $250 billion to supplement a

Senators block new virus aid, Pelosi decries 'stunt'

Apr. 9, 2020 4:55 PM EDT

WASHINGTON (AP) — The Senate twisted itself into knots Thursday over President Donald Trump’s new coronavirus aid request, as Democrats refused to rubber stamp his proposal for $250 billion more to boost small businesses, demanding modifications along with an additional $250 billion for health care...

A woman looks to get information about job application in front of IDES (Illinois Department of Employment Security) WorkNet center in Arlington Heights, Ill., Thursday, April 9, 2020. Another 6.6 million people filed for unemployment benefits last week, according to the US Department of Labor, as American workers continue to suffer from devastating job losses, furloughs and reduced hours during the coronavirus pandemic. (AP Photo/Nam Y. Huh)

US gig workers and self-employed face delays in jobless aid

Apr. 9, 2020 4:53 PM EDT

WASHINGTON (AP) — After Rich Cruse saw about $3,000 in income for his photography business quickly disappear to the coronavirus, he tried to apply for unemployment benefits in California. But like many states, his isn't yet accepting claims from the self-employed like him. That's left Cruse, 58, earning...

FILE - In this March 25, 2020 file photo,  a closed sign hangs in the window of a shop in Portsmouth, N.H., due to caronavirus concerns.  The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to suport American households and businesses as well as local governments as they deal with the coronavirus. The Fed said Thursday, April 9,  among the actions it is taking is the activation of a Main Street Lending Program that was authorized by the $2.3 trillion economic relief bill pass by Congress last month. (AP Photo/Charles Krupa, File)

A new $2.3 trillion Fed plan to aid localities and companies

Apr. 9, 2020 3:05 PM EDT

WASHINGTON (AP) — The Federal Reserve unleashed a new series of moves Thursday to try to make loans available to states, localities and companies that have been hard hit by the coronavirus. In doing so, the Fed will pump an additional $2.3 trillion into the U.S. economy. The central bank, in part, is...

FILE- In this March 18, 2020, file photo a few people walk on Wall Street in front of the New York Stock Exchange in New York. There are emerging signs that any recovery will fail to match the speed and severity of the economic collapse that occurred in just a few weeks. (AP Photo/Mark Lennihan, File)

US economy unlikely to recover as rapidly as it collapsed

Apr. 9, 2020 12:33 PM EDT

BALTIMORE (AP) — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that...

FILE - In this Wednesday, March 18, 2020 file photo, Visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns in New York. Americans are seeking unemployment benefits at unprecedented levels due to the coronavirus, but many are finding more frustration than relief. (AP Photo/John Minchillo, File)

Record 16.8 million have sought US jobless aid since virus

Apr. 9, 2020 10:56 AM EDT

WASHINGTON (AP) — With a startling 6.6 million people seeking unemployment benefits last week, the United States has reached a grim landmark: More than one in 10 workers have lost their jobs in just the past three weeks to the coronavirus outbreak. The figures collectively constitute the largest and...

Treasury Secretary Steven Mnuchin and President Donald Trump listen to a question during a conference call with banks on efforts to help small businesses during the coronavirus pandemic, at the White House, Tuesday, April 7, 2020, in Washington. (AP Photo/Evan Vucci)

Congress in standoff on virus aid, but first checks coming

Apr. 8, 2020 8:39 PM EDT

WASHINGTON (AP) — Congress is rushing headlong into a conflict over the next coronavirus aid package as the White House wants to pump $250 billion into a small business fund but opposes Democrats' proposal to tack on billions for protective gear, food stamps and support to state and local governments. An...

President Donald Trump speaks about the coronavirus in the James Brady Press Briefing Room of the White House, Tuesday, April 7, 2020, in Washington. (AP Photo/Alex Brandon)

AP FACT CHECK: Trump skews truth on lending aid, virus risk

Apr. 8, 2020 4:01 PM EDT

WASHINGTON (AP) — President Donald Trump offered a rosy portrait of a smoothly running federal emergency lending program for small businesses that doesn't match reality and revised history yet again on how seriously he took the coronavirus threat, suggesting he likened it to a pandemic flu. He never did. A...

In this Friday, April 3, 2020, photo, a woman walks by local stores during the coronavirus pandemic in New York. Small business owners hoping for quick help from the government’s emergency $349 billion lending program were still waiting Tuesday, April 7, 2020, amid reports of computer problems at the Small Business Administration.(AP Photo/Mark Lennihan)

Computer issues at SBA said to hold up small business loans

Apr. 7, 2020 11:49 PM EDT

NEW YORK (AP) — Small business owners hoping for quick help from the government’s emergency $349 billion lending program were still waiting Tuesday amid reports of computer problems at the Small Business Administration. The SBA’s loan processing system stopped working Monday, making it...

FILE - In this March 25, 2020, file photo, Senate Majority Leader Mitch McConnell, R-Ky. gives a thumbs up as he leaves the Senate chamber on Capitol Hill in Washington, where a deal has been reached on a coronavirus bill. Democrat Amy McGrath's campaign released a TV ad Friday, April 3, 2020, lambasting the Kentucky Republican for “taking a victory lap against the coronavirus.

Trump seeks $250 billion for payrolls in virus aid showdown

Apr. 7, 2020 7:37 PM EDT

WASHINGTON (AP) — As Congress races to craft the next coronavirus rescue package, President Donald Trump's sudden request Tuesday to pump $250 billion more into a just-launched small businesses payroll program sets up a new showdown over aid. Treasury Secretary Steven Mnuchin said more money is needed for...