Small Business Lending Transparency (Cong. Rec., May 5, 2020)

Summary

Page S2227 of the Senate section of the Congressional Record for May 5, 2020, with remarks under the headings Small Business Lending Transparency and Coronavirus. A speaker says that Senator Cardin and the speaker will ask the Senate to pass legislation with new disclosure requirements for the Paycheck Protection Program and other disaster relief accounts, including daily and weekly reporting by geography, demographics and industry. Remarks under the heading Coronavirus question the fitness of nominees Ratcliffe and Brian Miller, and say 42 Senate Democrats are sending a letter demanding a national strategic plan of action on testing by May 24. Durbin begins remarks on coronavirus.

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“Small Business Lending Transparency (Cong. Rec., May 5, 2020).” Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/crec-crec-2020-05-05-crec-2020-05-05-pt1-pgs2227-3-de5bc9c438/, SHA-256 b2c473208b71c52a4e386d0658c5438750808a1d4623d0518aed331929c945eb.

Full text

May 5, 2020 CONGRESSIONAL RECORD — SENATE S2227
result of an administration that did please the President. Mr. Miller needs SMALL BUSINESS LENDING TRANSPARENCY
not take COVID–19 seriously enough to explain why the Senate should con- Madam President, finally, on small
early enough and refused to heed the firm him to a position that requires business lending transparency, over the
warnings of public health officials and genuine independence. In particular, he past several months, Congress has pro-
scientists. must answer specific questions from vided historic levels of funding to help
The same phenomenon of the Presi- the Committee on Banking, Housing, small businesses retain employees,
dent’s not wanting to hear the truth and Urban Affairs about his role in the meet payroll, and stay afloat during
will hurt us dearly when it comes to White House Counsel’s Office and what these turbulent times. Because of the
national security as well. If the Direc- issues he has worked on. It is not ac- depth of this crisis, we have dedicated
tor of National Intelligence can’t stand ceptable to hide behind vague asser- trillions—not billions but trillions—to
up and tell the President what is really tions that he can’t answer those ques- this effort. We must absolutely make
happening, even when the President tions. It is too important. The burden sure these relief programs are imple-
doesn’t want to hear it, our country on Miller is to demonstrate that he can mented properly. With so much tax-
will be dramatically less safe—the be a truly strong and independent in- payer money at stake, oversight, trans-
same thing that has happened during spector general. parency, and accountability are musts.
the coronavirus crisis. If we move CORONAVIRUS Issues with the small business lend-
RATCLIFFE and pass him, we will repeat Madam President, there are serious ing programs cropped up almost as
the same mistake that the President questions about the fitness of both of soon as the administration began im-
has made on COVID. Not hearing the these nominees—Mr. RATCLIFFE and plementing them. Truly, small busi-
truth, not acting on the truth, listen- Mr. Miller. Yet, more broadly, the Re- nesses had a difficult time in securing
ing to flattery and not much else, publican leader has made a mistake by loans while larger businesses that had
which we did on COVID, will be re- choosing to dedicate this session to standing relationships with big banks
peated on national security. nominations only instead of to urgent had a much easier time. Minority-
Now, I think many of my Republican legislative business—COVID–19. owned businesses, women-owned busi-
colleagues actually know this. This is We could and should be focused on nesses, and other unbanked busi-
not the first time that President issues like testing. The first diagnosed nesses—the proverbial small restaurant
Trump has floated RATCLIFFE’s name— case of COVID–19 was diagnosed here in owner, the butcher, the baker, the can-
it is the second—because, the first the United States just over 100 days dlestick maker—have been left out to a
time, the Republicans balked. Many ago. We still don’t have a national test- large degree. We tried to rectify some
Republicans whispered: He has no expe- ing strategy that is adequate. In early of these problems, particularly in
rience. Some Republicans said to one March, President Trump said that any- COVID 3.5, but more must be done.
another and to some of us: You don’t body who needs a test gets a test, As Justice Brandeis said: ‘‘Sunlight
need someone in the DNI who is just a which has entered the pantheon of is the best disinfectant.’’ Transparency
cheerleader for the President; you need Presidential lies, alongside: ‘‘I am not around these programs is the order of
someone who knows intelligence and a crook,’’ and ‘‘Read my lips: no new the day. So, this afternoon, Senator
will speak the truth. taxes.’’ It was not true then, and it CARDIN and I will ask the Senate to
There is no new evidence that Mr. isn’t true now. We still don’t have a pass legislation that demands new dis-
RATCLIFFE will act with the necessary situation in which everyone who needs closure requirements for the Paycheck
independence. Nothing has changed a test and wants a test gets one. Protection Program and other disaster
about RATCLIFFE’s qualifications since As nations around the world, like relief accounts. Our bill is very simple.
he was shot down by the Republican South Korea and Canada, flatten the It would require the daily and weekly
Senators in their saying he was the curve with rigorous national testing reporting of the PPP, the Economic In-
wrong man for the job. Yet some- programs, the United States—this jury Disaster Loan, and debt relief pro-
times—all too often in this Senate and great United States, usually the leader grams to be broken down, in each case,
to the detriment of this country—even of the world—is lagging so far behind. by geography, demographics, and in-
when my Republican colleagues know So, today, 42 Senate Democrats are dustry. The data would need to be
the President is wrong, they go blindly sending a letter, demanding that the downloaded and would include the
along with him anyway. That happened Trump administration fulfill its re- names of the entities and the loans or
with COVID and will now happen with sponsibility to produce a comprehen- grant amounts. It would need to detail
our intelligence agency. I hope it is not sive, national strategic plan of action whether the programs are reaching un-
the case. I hope Mr. RATCLIFFE’s nomi- by May 24. Congress provided $25 bil- derserved communities.
nation will be roundly rejected, as it lion in the last round of COVID legisla- This is hardly a controversial idea.
should be. tion to help build up our testing capac- There is nothing partisan about it. Our
NOMINATION OF BRIAN MILLER ity. The administration needs to take legislation would simply require the
Madam President, the second hearing those resources and produce results. basic transparency we expect from any
this morning is in the Senate Com- We have given him the money and the Federal program—certainly, one of this
mittee on Banking, Housing, and wherewithal. Where are they? The size and importance. It is my hope that
Urban Affairs on Brian Miller to be the strategy they must come up with must my Republican colleagues will not
Special Inspector General of the pan- include a strategy for managing supply block our request simply because it
demic relief efforts. Having an inde- chains and for making sure resources comes from this side of the aisle. I
pendent, experienced, and strong IG to are equitably allocated and a strategy would hope, on a day when the Repub-
oversee the administration’s use of tax- to use all available tools, like the De- lican leader has scheduled literally no
payer funds in this pandemic is criti- fense Production Act, to make sure we business on the floor of the Senate,
cally important. Under President reach the level of testing that will that we could come together to pass
Trump, who has been firing IGs left manage this disease, save lives, and get this very simple bill to make sure we
and right simply because they tell the our economy moving again. know how taxpayer dollars are being
truth and who believes that he is ac- Until we have a vaccine, the most spent.
countable to no one, selecting a truly important tool we have at our disposal I yield the floor.
independent watchdog is essential and for tracking the disease, limiting its The PRESIDING OFFICER. The Sen-
urgent. spread, and understanding where we ator from Illinois.
As someone who currently works di- can safely open is testing, testing, test- CORONAVIRUS
rectly for President Trump as a mem- ing. We await the President’s response Mr. DURBIN. Madam President, to
ber of his White House Counsel’s Office, to our letter and want to work with the date, more than 1 million people have
Mr. Miller’s independence from the administration to make sure we can contracted coronavirus in the United
President is very much in doubt. We end its embarrassment of inadequate States—61,000 in the State of Illinois.
need a strong, tough IG. Billions of dol- testing, which, frankly, is far more Sadly, we are quickly approaching a
lars are being spent. We don’t want than an embarrassment—it is crucial. death toll of 100,000 Americans. While
someone who has in his mind: I have to It is life and death. more people continue to contract and

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