Statement on Treasury’s Termination of Federal Reserve’s Emergency Liquidity Programs

Thursday, November 19, 2020 - 7:30pm

WASHINGTON, D.C. - U.S. Chamber Executive Vice President and Chief Policy Officer Neil Bradley today issued the following statement after the Treasury Department requested that the Federal Reserve return unused funds from facilities that used CARES Act funding, including the Main Street Lending Program: 

“With the coronavirus surging in communities around the nation and American businesses facing mounting challenges, we need the government’s full support by providing the resources necessary for broad-based economic recovery. A surprise termination of the Federal Reserve’s emergency liquidity programs, including the Main Street Lending Program, prematurely and unnecessarily ties the hands of the incoming administration, and closes the door on important liquidity options for businesses at a time when they need them most. 

“American businesses and workers are weary of these political machinations when they are doing everything in their power to keep our economy going. We strongly urge these programs be extended for the foreseeable future and call on Congress to pass additional pandemic relief targeted at the American businesses, workers and industries that continue to suffer. We all need to unite behind the need of a broad-based economic recovery.”