{"id":28481,"date":"2020-12-16T15:48:26","date_gmt":"2020-12-16T15:48:26","guid":{"rendered":"https:\/\/www.ceo-na.com\/?p=28481"},"modified":"2020-12-16T15:49:30","modified_gmt":"2020-12-16T15:49:30","slug":"warren-buffett-urges-congress-to-extend-relief-for-small-businesses","status":"publish","type":"post","link":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/news\/warren-buffett-urges-congress-to-extend-relief-for-small-businesses\/","title":{"rendered":""},"content":{"rendered":"

Berkshire Hathaway\u00a0Chairman Warren Buffett urged Congress to extend aid to small businesses.<\/p>\n

<\/p>\n

Through a telephone interview with\u00a0CNBC\u2019s Becky Quick on \u201cSquawk Box\u201d<\/a> Tuesday morning alongside\u00a0Goldman Sachs CEO David Solomon, Warren Buffett\u00a0urged Congress\u00a0to pass legislation to help small businesses stay afloat, calling the current situation “an economic war”.<\/p>\n

Specifically, Buffett asked lawmakers to extend the Paycheck Protection Program:<\/p>\n

\u201cI think the country owes it to the millions of small-business people \u2026 just renew the PPP and get us to the end of the tunnel,\u201d Buffett said. \u201cWhen we went into World War II, a lot of industries were shut down; everything went to the defense production. Well, we\u2019ve shut down a lot of people in this particular induced recession and others are prospering, and I think the country owes it to the really millions of small businesspeople.\u201d<\/p>\n

Without additional aid for small businesses, Congress is \u201cin the process of dashing the dreams of tens of thousands,\u201d Buffett said. \u201cCongress should act.\u201d \u201cIt would be so foolish to not follow through on this and enable those people to get back to where they could do the kind of business they were doing before,\u201d Buffett added.<\/p>\n

Late on Monday, a bipartisan group of lawmakers presented a $908 billion fiscal stimulus package. The proposal includes about\u00a0$300 billion to support small businesses<\/a>, including restaurants and entertainment venues.<\/p>\n

It’s all about access to credit<\/h1>\n

Per Morning Brew, large corporations have several funding options, such as the bond market, to tap into on a rainy day. And 2020, of course, has been\u00a0particularly stormy: U.S. companies have sold a record $2.4 trillion of bonds so far this year, per Dealogic.<\/p>\n

“Small businesses don’t have that access,” Goldman Sachs CEO David Solomon told CNBC yesterday. Which is why he, too, supports another round of PPP funding. A\u00a0stimulus bill from a bipartisan group of lawmakers contains $300 billion in aid for small businesses, including devastated restaurants and entertainment venues. Help could be on the way if Congress gets the job done.<\/p>\n","protected":false},"excerpt":{"rendered":"

Berkshire Hathaway\u00a0Chairman Warren Buffett urged Congress to extend aid to […]<\/p>\n","protected":false},"author":14,"featured_media":28483,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1338],"tags":[99,4319,1385,4162,955,128,3324],"class_list":["post-28481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ceo","tag-ceo-david-solomon","tag-ceo-northam","tag-cnbc","tag-congress","tag-small-businesses","tag-warren-buffett"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/28481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=28481"}],"version-history":[{"count":2,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/28481\/revisions"}],"predecessor-version":[{"id":28485,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/28481\/revisions\/28485"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/28483"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=28481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=28481"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=28481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}