Sen. Pat Toomey, R-Pa., seen here on Capitol Hill in May, had proposed curbing the Federal Reserve’s ability to offer emergency loans.

WASHINGTON, DC – MAY 05: U.S. Sen. Pat Toomey (R-PA) speaks during a confirmation hearing before Senate Committee on Banking, Housing, and Urban Affairs May 5, 2020 at Dirksen Senate Office Building on Capitol Hill in Washington, DC. Brian Miller will become Special Inspector General for Pandemic Recovery at the U.S. Department of the Treasury and Dana Wade will become Assistant Secretary of U.S. Department of Housing and Urban Development if confirmed. (Photo by Alex Wong/Getty Images)