McDowell: Politicians don't care about small business owners
Paycheck Protection Program runs out of money; Fox Business correspondent Dagen McDowell speaks out.
Fox Business host Dagen McDowell reacted to several governors and federal lawmakers' comments about wanting to help small businesses recover from the economic shutdown due to the coronavirus pandemic.
"I grew up as a child of small business owners," the Southside Virginia native told "The Daily Briefing" on Friday.
"My daddy ran a wholesale grocery business in a very small Virginia town, and I learned two things growing up: There’s no such thing as a vacation -- and politicians don’t give a flying damn about small business owners."
"They love to regurgitate about how you’re so important to the economy and the country, but they will throw on regulations, higher taxes and handouts for big business and then crush small business at the same time," she continued.
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McDowell said this was illustrated when Democrats united in balking at Sen. Mitch McConnell, R-Ky., and his one-page bill to replenish $250 billion into the federal Paycheck Protection Program (PPP) that was established through the previous coronavirus aid package but had run out of funding earlier in the week.
"No, [replenishment] has got to come with strings, say the Democrats, and here we are," McDowell said.
McDowell said there are reports that House Minority Leader Kevin McCarthy, R-Calif., is trying very hard to compromise with the additional wants of the Democratic caucus, and reportedly will back additional hospital funding in the hope of getting to the original goal of replenishing the PPP.
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She added that she is also disgusted with the big banks whose customers have been loyal for decades and who received massive bailouts from taxpayers during the 2008 financial crisis.
McDowell said she knows many people who bank with Chase -- the consumer arm of JPMorgan Chase -- and cannot get any kind of assistance through the PPP with the New York-based institution.
"I don't care what their excuses are, there is no excuse," she said, adding that the much less powerful community banks are coming through more than the financial titans.
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