Representative Blaine Luetkemeyer (R-MO) on Friday said on Fox Business Network’s “Mornings with Maria” there was a “good chance” additional funding will be needed to help small businesses amid the ongoing coronavirus pandemic despite the House just passing new legislation for a $484 billion spending package the day before.
Luetkemeyer predicted the money allocated in Thursday’s bill would be “exhausted” in a week to 10 days, so there is a “possibility” another stimulus package will be in the works down the road.
“I think you’re going to see whether in a week or 10 days probably a lot of that money if not all of it is going to go out the door,” Luetkemeyer told host Maria Bartiromo. “The loans are already processed, they’re ready to be sent to the SBA for approval, and then when they get the approval back, it’ll be dispersed. So yeah, it should be a pretty quick process, and I would think in a week or 10 days that traunch will be exhausted.”
Bartiromo asked if another stimulus package will be required, with the funding being exhausted so quickly.
“That’s a possibility,” Luetkemeyer replied.
He added, “I would not disagree with somebody who says we’re going to have to have some more funding on this because I think there’s a good chance that that may happen.”
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