At the latest coronavirus task force press briefing on Thursday, President Donald Trump was asked about the ongoing problems with the Paycheck Protection Program, the portion of the CARES Act that offers stimulus relief to small businesses through banks. Trump’s response was to push back on the idea there was a problem at all.
“I’m hearing it’s a very, very successful rollout,” said Trump, noting that, “They’re doing record numbers of dollars.”
A number of small businesses have reported difficulty in requesting the money for which they are eligible. Some large banks, like Wells Fargo, have been inundated with requests, and are already bumping up against the stimulus cap.