RE: Secretary Steven T. Mnuchin on Status of Facilities Authorized Under Section 13(3) Federal Reserve Act
Published November 29 2020 updated November 29 2020 1 minute 20 seconds reading time.
With a congress knowledgeable of the issues caused by the pandemic it is clear to me we can allocate the funds you have removed very quickly and more efficiently than before. This time we can get the money in the hands of business owners at a local level.
Most Disaster Victims who have had interactions with HUD CDBG-DR and CDBG-MIT will know just what this means, others will not.
Take away allocations you take away long term recovery.
In Louisiana since the 2016 floods the state has worked the system the same. Asked for $1.7 billion then slowly over the last 4 years funneled the money away from the original allocations to other programs.
If it's up to Congress to reallocate the funds we can look more toward HUD CDBG-DR and skip the US Treasury loan programs. It's time we give grants and reimburse those shut down by government.
Start asking your Congressional Representatives to modify the Stafford Act to allow Business Owners of ALL INCOME brackets to qualify for reimbursement grants to pay off your SBA EIDL loans and other loans small business took to stay afloat. For those who lost their businesses we need to establish grants to assist with the reestablishing of the business. So much more we can do with the funds that the CARES ACT never addressed. So take it back, let's let congress who now has had almost 12 months to think about it make it work this time.