Congress Splits Along Party Lines Over Fed-Facilities Move
- Democrats criticize secretary for seeking to end the programs
- GOP Senator Pat Toomey says facilities have done their job
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Lawmakers split along party lines on U.S. Treasury Secretary Steven Mnuchin’s move to shutter a number of Federal Reserve emergency-lending facilities that relied on his agency’s backing.
“Ending emergency programs specifically intended to support the economy through this crisis is irresponsible and misguided,” Democratic Representative Richard Neal of Massachusetts, chairman of the powerful House Ways and Means Committee, said in a statement. “The Covid recession is not over. Millions of workers remain without jobs, and the futures of businesses across the country continue to hang in the balance.”