Dems, GOP Grow Impatient with Main Street Program
Today’s Senate Banking hearing on the status of emergency Fed facilities showed even more clearly the dividing lines between Democrats and Republicans on changes to the Main Street Lending program than the CARES Act Congressional Oversight Commission’s recent hearing.  As noted yesterday, the “skinny” Senate COVID-relief bill would essentially shut this down along with all other Fed CARES Act windows at the end of this year.  However, partisan differences today did not find GOP Members supporting this approach; instead, partisan differences ranged over how best to expand, as detailed in this report, Fed programs to support more borrowers.