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Mnuchin says Main Street U.S. companies need grants, not loans

Mnuchin says Main Street U.S. companies need grants, not loans

November 20, 2020

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Friday defended his decision to end several of the Federal Reserve’s key pandemic lending programs on Dec. 31, saying Congress should use the money to help small U.S. companies with grants instead.

Mnuchin, speaking on CNBC, said he and White House Chief of Staff Mark Meadows would speak with congressional Republican leaders later Friday, and planned to redouble their efforts to pass further stimulus measures.

(Reporting by Andrea Shalal and David Lawder; Editing by Chizu Nomiyama)

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