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The $500 billion black box - Judd Legum; Popular Information

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But who got the money? The Trump administration won't say.  As long as most of the money was spent on payroll, the loans are forgiven by the government. Thus far, the program has allocated over $500 billion in taxpayer dollars. Mnuchin said that the administration will not release the 'names and amounts of specific PPP loans' because it is 'proprietary information' and 'confidential.'Also, there is also the issue of accountability for the banks that distributed the money. Although most of the money will ultimately be supplied by taxpayers, Congress relied on banks to process the applications and provide the cash. How many more members of Congress benefited from the PPP? Only the Trump administration knows. The lack of disclosure has 'raised new questions about lawmakers’ potential conflicts of interest as they craft the next coronavirus rescue package.' 


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Susan Lee Schwartz Social Media Pages: Facebook Page       Twitter Page       Linked In Page       Instagram Page

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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