The recent government shutdown has prompted more than 500 members of the Senate Federal Credit Union to apply for its $5,000 shutdown relief loan, a company spokesperson told the Washington Examiner. The first disbursements were sent out on October 14, with a second round scheduled for Monday.
These loans are interest-free if repaid within 90 days. Additionally, the credit union plans to introduce a “Phase 2” program should the shutdown continue, which will include offering loan extensions and possible modifications to their loan products.
Senate staffers receive their pay twice a month, on the 5th and 20th. The missed paycheck on Monday covers work performed from the start of the shutdown on October 1 through October 15. In contrast, House staffers have not missed any paychecks yet since they are paid monthly.
Once Congress approves new funding and the government reopens, it will take three additional days for Senate staffers to receive their missed pay. Monday marked the 20th day of the shutdown.
Meanwhile, a House-passed “clean” short-term funding bill proposed by Republicans has been rejected 10 times by Senate Democrats due to a stalemate over health insurance tax credits.
https://www.washingtonexaminer.com/news/senate/3857230/senate-staffers-miss-first-paycheck-hundreds-seek-loans-government-shutdown/
