Mnuchin says U.S. Treasury cannot act on own to avert airline layoffs

By David Shepardson and Tracy RucinskiWASHINGTON/CHICAGO (Reuters) – U.S. Treasury Secretary Steven Mnuchin told Congress on Thursday he cannot tap unused coronavirus lending authority to provide cash grants to help U.S. passenger airlines avoid thousands of layoffs.Airlines have been pushing Congress for months to back a new $25 billion bailout and extend payroll assistance to…

Mnuchin says U.S. Treasury cannot act on own to avert airline layoffs

By David Shepardson and Tracy RucinskiWASHINGTON/CHICAGO (Reuters) – U.S. Treasury Secretary Steven Mnuchin told Congress on Thursday he cannot tap unused coronavirus lending authority to provide cash grants to help U.S. passenger airlines avoid thousands of layoffs.Airlines have been pushing Congress for months to back a new $25 billion bailout and extend payroll assistance to prevent passenger airline layoffs for another six months. The $25 billion payroll assistance in the “CARES” act approved in March required no layoffs by airlines through Sept. 30.”Is there anything that you have under existing authorities, either the CARES act authorities, or prior law, that could help the airlines avoid these coming layoffs?” Re
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