About The times. (Gainesville, Ga.) 1972-current | View Entire Issue (Nov. 20, 2020)
LOCA^NATION The Times, Gainesville, Georgia | gainesvilletimes.com Friday, November 20, 2020 3A Mnuchin rejects renewal of some Fed emergency funding PATRICK SEMANSKY I Associated Press Treasury Secretary Steve Mnuchin speaks during a news conference to announce the Trump administration’s restoration of sanctions on Iran at the U.S. State Department in Washington on Monday, Sept. 21. Treasury Secretary Steven Mnuchin said Thursday, Nov. 19, he will not to extend several emergency loan programs set up with the Federal Reserve to support the economy in the midst of the coronavirus pandemic. BY MARTIN CRUTSINGER AND CHRISTOPHER RUGABER Associated Press WASHINGTON — Treasury Secretary Steven Mnuchin said Thursday he will not extend several emergency loan programs set up with the Federal Reserve, an action that could hamper the ability of the incom ing Biden administration to gain important economic support from the central bank to deal with the ongoing pandemic. The decision drew a terse rebuke from the Fed. The central bank said it “would prefer that the full suite of emergency facilities established during the coronavirus pan demic continue to serve their important role as a backstop for our still-strained and vul nerable economy.” But in a letter to Fed Chairman Jerome Powell, Mnuchin said that the Fed’s cor porate credit, municipal lending and Main Street Lending programs would not be renewed when they expire on Dec. 31. Under law, the loan facilities required the support of the Treasury Department, which serves as a backstop for the initial losses the programs might incur. Mnuchin said that he is requesting that the Fed return to Treasury the unused funds appropriated by Congress for operation of the programs. He said this would allow Congress to re- appropriate $455 billion to other coronavirus programs. Republicans and Democrats have been deadlocked for months on approval of another round of coronavirus support measures. In public remarks Tuesday, Powell made clear that he hoped that the loan programs would remain in effect for the foreseeable future. “When the right time comes, and I don’t think that time is yet, or very soon, we’ll put those tools away,” he said in an online discussion with a San Francisco-based business group. The future of the Main Street and Munici pal Lending programs has taken on greater importance with President-elect Joe Biden’s victory. Many progressive economists have argued that a Democratic-led Treasury could support the Fed taking on more risk and making more loans to small and mid sized businesses and cash-strapped cities under these programs. That would provide at least one avenue for the Biden adminis tration to provide stimulus without going through Congress. Neither program has lived up to its poten tial so far, with the Municipal Lending pro gram making just one loan, while the Main Street program has made loans totaling around $4 billion to about 400 companies. Mnuchin’s move comes as the resurgent virus and slowing consumer spending, as well as colder weather that will shut down outdoor dining, will cause more small and mid-sized businesses to struggle with lower revenue and potentially close. However, Republican Sen. Pat Toomey of Pennsylvania said in a statement that he approved of Mnuchin’s decision. “Congress’ intent was clear: These facili ties were to be temporary, to provide liquid ity and to cease operations by the end of 2020,” Toomey, a member of the Senate Finance Committee, said. “With liquidity restored, they should expire, as Congress intended and the law requires, by Dec. 31, 2020.” Report: Millions of full-time workers get government aid BY MARTIN CRUTSINGER Associated Press WASHINGTON — Millions of Americans who are working full-time jobs still rely on federal health care and food assistance programs because of low wages, a bipartisan congressional watch dog says. A report from the Government Accountability Office found that about 70% of adult workers par ticipating in Medicaid, which pro vides health care to low-income Americans, and the Supplemen tal Nutrition Assistance Program, also known as food stamps, are working full time. The report was requested by Sen. Bernie Sanders, I-Vermont, who said its findings show an urgent need to raise the federal minimum wage. “At a time when huge cor porations like Walmart and McDonald’s are making billions in profits and giving their CEOs tens of millions of dollars a year, they’re relying on corporate wel fare from the federal govern ment by paying their workers starvation wages.,” Sanders said in a statement. “This is morally obscene.” He said it was long past time to increase the federal minimum wage from $7.25 an hour to $15. In the report issued Wednes day, the GAO analyzed data from 15 state agencies cover ing 11 states, with each agency reporting the employers in their states with the largest numbers of Medicaid and food-stamp beneficiaries. Among the 15 agencies over seeing the Medicaid and food- stamp programs, Walmart was among the top four employers with beneficiaries in each of the 15 programs. McDonald’s was among the top five employers whose workers received federal benefits from 13 of the 15 state agencies. Other companies that appeared frequently were Dollar Tree and Dollar General. Sanders said an analysis of the GAO data showed that across nine of the states reviewed — Arkansas, Georgia, Indiana, Maine, Massachusetts, Nebraska, North Carolina, Tennessee and Washington — the largest num ber of recipients of foods stamps were employed at Walmart and McDonald’s. Asked for comment on the GAO report, Anne Hatfield, a Walmart spokesperson, said, “If not for the employment access Walmart and other companies provide, many more people would be dependent on government assistance.” She said that a small percent age of Walmart’s workforce is on public assistance when hired by Walmart. The company strives to “remove employment barriers and create opportunities for indi viduals that too many overlook,” she said. McDonald’s USA said in a statement, “The average start ing wage at U.S. corporate-owned restaurants is over $10 per hour and exceeds the federal mini mum wage.” Photo courtesy of University of Maryland School of Medicine via AP This photo shows the first patient enrolled in Pfizer’s COVID-19 coronavirus vaccine clinical trial at the University of Maryland School of Medicine in Baltimore on May 4. Pfizer announced Wednesday, Nov. 18, more results in its ongoing coronavirus vaccine study that suggest the shots are 95% effective a month after the first dose. VACCINE ■ Continued from 1A BioNTech Chief Executive Officer Ugur Sahin said in a Bloomberg Television interview. Documents have already been filed with the European Medicines Agency, which is conducting a rolling review, he said. How will the rollout work locally? Taylor said the FDA will probably take seven to 10 days to review the emer gency use authorization. “As soon as they approve that emergency use autho rization, then I think Pfizer has on hand some vaccine that they can start shipping, ” Taylor said. “Hopefully, we’ll start seeing (vaccine) here in our area sometime in the middle of December,” Taylor said. According to the Georgia Department of Public Health vaccine draft plan, there will be three phases for the roll out. The first will have lim ited quantities released to certain dispensing partners “to ensure vaccination of our Tier 1 targeted populations,” which include first respond ers, emergency personnel, frontline essential workers and more. According to the draft plan, there is no charge for the vaccine. “The vaccines have been paid for with federal funds at no cost to the patient nor provider, which means that no one may be charged a fee for (the) vaccine itself,” according to the draft plan. Providers, however, can charge a maximum $21.93 fee to administer each dose, but the fee must be waived if the family cannot afford the fee, according to the plan. The Pfizer vaccine requires “ultra-cold stor age,” which the draft plan defines as -60 to -80 degrees Celsius. Frank said they have two freezers at their disposal capable of holding up to 80,000 doses at the required temperature. “All of the vaccine will be housed here at Gainesville, and we will just plan a pro cess for getting those health care workers immunized as soon as we can,” Frank said regarding NGHS’ dis tribution. “We’re already in conversations about just logistics and answering questions as we can.” Taylor said Northeast Georgia Health System was the only provider he was aware of in the North Geor gia area that has the requi site ultra-cold storage. He said transport of the vaccine will likely be pack aged with dry ice, which should be able to hold for seven-10 days if it is replenished. The second phase of roll out will see more vaccine doses released to “pan demic vaccination provid ers who agree to serve as mass pandemic vaccination sites, providers who serve” senior adults, patients with chronic medical conditions and others. The third phase will make the vaccine widely available. “(The Centers for Disease Control and Prevention) has shared that vaccines may be available as both single dose and 2 dose series,” according to the draft plan. “There will likely be differ ent brands and preparations with varying administration schedules.” An optimistic estimate would be widespread vac cination by early spring to early summer, Taylor said. One caveat, however: The vaccine candidates will likely not be approved under the emergency use authori zation for children under 18 or pregnant women. Tribune News Service contributed to this report. NGPG Urology 1315 Jesse Jewell Pkwy NE, Ste. 300 Gainesville, GA 30501 274 Big A Rd. Toccoa, GA 30577 ^ Northeast Georgia PHYSICIANS GROUP Call or Request Your Appointment Online: 770-219-8765 ngpg.org/Stanley David Stanley, MD, FACS Urology now seeing patients
