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Mnuchin: additional $250 billion sought for small businesses

The Trump administsration will seek an additional $250 billion to support a program designed to help small businesses keep workers employed through the coronavirus outbreak, Treasury Secretary Steven Mnuchin said.

Mnuchin said in a tweet on Tuesday that he was seeking the additional funds at the direction of President Donald Trump. He said he had spoken with Senate Majority Leader Mitch McConnell as well as House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer.

The money would bolster a key program in the $2.2 trillion rescue measure that Congress passed to try to cushion the economy from a deep slide caused by the efforts to contain the coronavirus.

Treasury Secretary Steven Mnuchin speaks about the coronavirus in the James Brady Press Briefing Room of the White House, Thursday, April 2, 2020, in Washington. (AP PhotoAlex Brandon)

President Donald Trump listens as Treasury Secretary Steven Mnuchin speaks about the coronavirus in the James Brady Press Briefing Room of the White House, Thursday, April 2, 2020, in Washington. (AP PhotoAlex Brandon)