The potential failure of economic relief talks in Washington would have dire consequences for small businesses across the U.S., with the lack of new federal aid threatening to trigger mass layoffs and closures that would drag on the economy.
The negotiations between Democratic leaders and the White House — which Senate Majority Leader Mitch McConnell said Friday are “unlikely” to succeed before the election — cover a vast range of issues, from an airline rescue to emergency aid for states. But small businesses, which are seeking to revive a popular loan program, are the anchor of the economy, employing nearly half the private sector workforce. And substantial damage has already been done since the program expired in August.
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