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Small Business Admin Runs Out Of COVID Loan Money, Needs Congress To Act

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The U.S. Small Business Administration is no longer able to accept new applications for the coronavirus emergency loan program after hitting its $349 billion limit Thursday, according to their website. The advance provides businesses with up to $10,000 that doesn’t need to be paid back and is provided for them to stay afloat in the coronavirus pandemic.

“BA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding,” the SBA notice stated.

The SBA reports that the number of applications received in the last 14 days is more than 14 years of loan applications. Their statement continued, “Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.”

On March 27, the CARES Act budgeted $376 billion to American businesses and workers. In a joint statement released Wednesday, Treasury Secretary Steve Mnuchin and SBA Administrator Jovita Carranza urged “Congress to appropriate additional funds for the Paycheck Protection Program—a critical and overwhelmingly bipartisan program—at which point we will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks.”

They added, “The high demand we have seen underscores the need for hardworking Americans to have access to relief as soon as possible. We want every eligible small business to participate and get the resources they need.”

U.S. lawmakers remain in a stalemate over appropriating additional funding. In an effort to bridge the partisan gap, Mnuchin is reportedly working with Democrats who voted against the GOP’s $250 billion bill in the Senate last week. The Senate, however, isn’t scheduled to be back in session until April 20, but may be forced to call an emergency session to provide needed funding.

In a letter sent to Republicans last week, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer asked for additional funding of hospitals, personal protective equipment (PPE), and the food stamps program to be included in the next bill.

House Minority Leader Kevin McCarthy, R-CA, said Thursday on Twitter that the failure to get additional funding “is on you, Chuck Schumer and Nancy.”

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Economy

CO leaders stating they won’t use any city money to support migrants or to alleviate the crisis in Denver

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In February 2018, Denver city leaders sent a valentine to foreigners interested in relocating to the progressive mountain city and a message to any elected officials looking to stop them:

Draped on Denver’s City and County building was a large, blue banner: “Denver ❤️ Immigrants.”

Then-mayor Michael Hancock event posted on social media that it was a statement of “love” to let immigrants know that Denver is “an open and welcoming city.” However, six years later, Denver residents are facing an uphill battle of repercussions from the liberal leaders’ actions. Amid a crisis that has seen more than 40,000 migrants arrive in the city since late 2022, Denver leaders have a new message: If you stay in Denver, you will suffer.

“The opportunities are over,” an official with new mayor Mike Johnston’s office told a gathering of migrants in Spanish inside a city shelter in late March, according to a video obtained by a local television station. “New York gives you more. Chicago gives you more.”

On Monday, Douglas County filed a lawsuit against the state of Colorado and its Democratic governor Jared Polis in Denver District Court over the issue.

The lawsuit is challenging the constitutionality of two state laws passed by Democrats in the Colorado legislature: a 2019 law that restricted the ability of local law enforcement to cooperate with federal immigration officials in civil cases, and a 2023 law that prohibits local governments from entering or renewing detention agreements with ICE and that prohibits them from funding immigration detention facilities owned or operated privately.

“The nation is facing an immigration crisis. The nation, the state, and local governments need to cooperate and share resources to address this crisis,” the lawsuit states, adding that the 2019 and 2023 laws in question “prohibit the necessary cooperation and create dangerous conditions for the State and migrants.”

Teal contends that “the state doesn’t have the inherent authority to limit the ability of a local jurisdiction to work with any agency, regardless be it local, state, or federal.” By doing so, he said, “the state is inhibiting the local communities, the local jurisdictions from providing for the safety” of their residents.

“We are seeing what is going on in Denver, and we do not want that coming here to Douglas County. It is not safe,” Douglas County commissioner Lora Thomas, a former state trooper, said during a Monday morning press conference announcing the lawsuit.

Douglas commissioner Abe Laydon said on Monday that the lawsuit “is about putting America first and about putting Coloradans first.” As a Latino, he said, he recognizes “the plight of those seeking refuge and asylum here in the United States,” but he added that “Douglas County is a place where quality of life comes first.”

National Review reports on the mile-high city’s crisis:

In January, the city was housing and feeding almost 5,000 migrants, mostly Venezuelans, in hotel shelters. Other migrants slept in tents on sidewalks and in parking lots, adding a new wrinkle to Denver’s ongoing struggles with panhandling and squalid homeless camps.

At intersections throughout Denver, migrants with water bottles and squeegees head into traffic to try to make a few bucks washing drivers’ windshields.

To address a migrant-driven financial crunch, the city is now cutting hours at local rec centers, slashing park programming, and freezing hiring in some departments. To save a little money, the city has decided against planting flowers in some of its parks and medians this spring.

The migrant crisis has cost the Denver region at least $170 million, according to a conservative estimate by Colorado’s Common Sense Institute, which looked at city spending as well as school and hospital costs, and is almost surely an undercount.

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