Treasury Weighs Safeguarding $17 Billion in Aid for Boeing, GE
- Treasury sees companies potentially needing money they spurned
- Pentagon has urged expanding loan program to more companies
The U.S. Treasury building stands in Washington, D.C.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The Treasury Department is considering holding off on giving more companies access to an untapped $17 billion relief fund for national security businesses in case Boeing Co. and General Electric Co. eventually need the money, according to people familiar with the matter.
The loan program was created under the $2.2 trillion Cares Act with the two defense giants specifically in mind, according to Treasury Secretary Steven Mnuchin. But so far, both companies have taken a pass, saying they don’t need the government loans after raising cash on Wall Street.