Berkshire Hathaway Chairman Warren Buffett on Tuesday urged Congress to extend aid to small businesses to recover from the pandemic impacts, according to CNBC. Buffett noted that the U.S. owes millions of small businesses affected by the pandemic and called the situation an “economic war” that needed Congress’s attention.
- Buffet remarks follow a relief stalemate in Congress that has lasted for months as the Paycheck Protection Program (PPP) loans expired this year, with funds remaining in the program.
- On Monday, a bipartisan group of lawmakers presented a $908 billion fiscal stimulus package that includes about $300 billion to support small businesses.
- Small businesses, especially restaurants, have struggled to stay afloat during the pandemic as coronavirus restrictions forced them to limit capacity.
U.S. stocks are currently gaining. SPY is up 0.44%, QQQ: NASDAQ is up 0.15%