WASHINGTON, DC – MARCH 13: U.S. Treasury Secretary Steven Mnuchin speaks to the press outside of the West Wing of the White House on March 13, 2020 in Washington, DC. (Photo by Drew Angerer/Getty Images)
Treasury Secretary Steven Mnuchin says the Trump administration is determined to support American businesses and workers.
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“We want all small businesses to keep employees so that they can reopen those businesses quickly when its medically sufficient,” Mnuchin told FOX Business’ Maria Bartiromo on Monday morning.
He reiterated that any small business with fewer than 500 employees is eligible for a loan amounting to two months of payroll and some overhead and that it will be forgiven if the company keeps its workers or rehires them.
Meanwhile, Mnuchin also discussed the administration and Congress' efforts to keep airlines afloat as the economy weighs on the industry.
“There are no bailouts," Mnuchin said. "This is not about bailing anybody out. There is a special provision that we are in the process of negotiating for airlines. Airlines do provide significant resources and national security issues. We want the airlines to continue to be able to operate domestic air travel.”
This story is developing. Check back for updates.
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