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McHenry Statement on Main Street Lending Facility

Washington, Apr 9 -

WASHINGTON – The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement in response to the announcement of a new Main Street lending facility to support businesses of all sizes impacted by the coronavirus (COVID-19):

“By setting up an emergency lending facility with the Federal Reserve, Treasury is using the Exchange Stabilization Fund exactly as Congress intended. This will provide necessary liquidity to Main Street businesses—through our financial institutions—to address the cash crunch impacting American employers of all sizes. The President, Secretary Mnuchin, and Chairman Powell are working to ensure that Americans have jobs and can recover from this massive and temporary economic dislocation.”