The U.S. government is being urged by more than 30 industry groups to establish a recovery fund for businesses hurt by the spread of the coronavirus, less than a week after the enactment of a $2 trillion stimulus package.
The proposed fund, to be managed by a special administrator, would give relief to businesses to help them retain and rehire employees, maintain benefits, and keep up with expenses, according to a letter sent Tuesday to President Donald Trump, Treasury Secretary Steven Mnuchin and congressional leaders. It would augment the stimulus package, known as the CARES Act. The groups didn’t specify a dollar figure for the new fund.
