Photo: Erin Schaff-Pool/Getty Images

Senate Majority Leader Mitch McConnell announced Tuesday he will be working with Minority Leader Chuck Schumer and Treasury Secretary Steven Mnuchin to increase funding for the Payroll Protection Program, the federal backstop to help small businesses maintain operations and keep workers employed amid the coronavirus outbreak.

Why it matters: The $350 billion lending program — which opened for business last Friday — has had a highly problematic rollout, with banks and small businesses alike expressing frustration about system crashes and a lack of direction from the federal government. As the program proceeds, it's become clear that the initial funding wouldn't be nearly enough.

Our thought bubble, via Axios' Felix Salmon: The Payroll Protection Program looks set to be one of the most popular and effective ways of getting stimulus money into Americans' hands. The rollout has been predictably rocky, but this move should at least lengthen the amount of time before cash runs out.

What they're saying: In a statement, McConnell said he is aiming to get funding approved this week, and hopes to pass the measure through unanimous consent or a voice vote, the Wall Street Journal reports.

  • “It is quickly becoming clear that Congress will need to provide more funding or this crucial program may run dry," McConnell said. "That cannot happen.”
  • Small Business Committee Chairman Sen. Marco Rubio tweeted: "We will need at least another $200-$250 billion for #PPPloan."

Go deeper: America's small business bailout is off to a bad start

Go deeper

Ben Geman, author of Generate
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U.S. cities' lagging climate progress

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Reproduced from a Brookings Institution report; Chart: Axios Visuals

A just-published Brookings Institution analysis of U.S. cities' pledges to cut carbon emissions reveals very mixed results.

Why it matters: The potential — and limits — of city and state initiatives have gotten more attention amid President Trump's scuttling of Obama-era national policies.

New state unemployment filings fall to 787,000

Photo: Joe Raedle/Getty Images

First-time applications for unemployment fell last week, according to Department of Labor data released on Thursday.

Between the lines: The overall number of Americans relying on unemployment also fell to a still-staggering 23 million. But there are continued signs of labor market strain, with more people shifting to an unemployment program designed for the long-term jobless.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Business: New state unemployment filings fall.
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: Many U.S. deaths were avoidable — The pandemic is getting worse again.
  5. Education: Boston and Chicago send students back home for online learning.
  6. World: Spain and France exceed 1 million cases.