Up to three-quarters of the $800 billion in disbursed PPP funds flowed to business owners instead of workers, study finds

The benefits of the landmark small-business relief program designed at the height of the pandemic mostly went to business owners rather than workers, a study from leading economists finds.

The far-reaching PPP ended up sending loans to approximately 93% of small businesses, within just two months. The end result, the authors estimate, is that the program preserved up to 3 million “job years” of employment at a cost of between $170,000 to $257,000 per job year retained. Another finding was that so-called second-draw loans in 2021 — that is, companies going back for more funding a year later — had no impact on employment. The authors said that was “perhaps because they were issued too late to be relevant, after the economic recovery was well underway. If this interpretation is correct, it affirms that Congress was wise to prioritize speed over precision in dispatching the initial two tranches of PPP loans.

Cartel rump

And Trump‘s family starting with Jared in MD

Yup - lots of nice vacation houses being purchased in the last year or 2. Not many workers received a bonus or even a holiday turkey…their jobs were never at risk either.

Who is benefitting from Biden's Open Borders and Energy Policies? Certainly not the citizens of the USA.

If the ten wealthiest Americans donated fifteen percent of their wealth, 10 million people could get a check for $10.5k. That's over 3 percent of the US population. From ten people.

It was a bonus for business owners

Shocker

VOLT⚡⚡⚡ VoltInuOfficial

SO... on levels : The Rich and Upper Middle Class got wealthier as the lower classes stayed poor? Would have perhaps been better to take that $800Billion and give like $2400 to each American... doing the math and following the money...

Not surprised AT all. Naming the businesses and noting who then supported TFG is interesting as well.

No sh!t Sherlock…bailouts are dreadfully inefficient.

And how much of Biden infrastructure money is going to politicians and their friends and family? markpoloncarz

Who could've thunk it?

Trickle down doesn’t work. Too many crooks at the top

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Portland restaurant owner blames Democrats for business downfallJoule Crafted Nutrition owner Eric Post joined “Varney & Co.” Friday and said his business closed due to constant break-ins by homeless addicts. and he's even crying in the photo for extra effect?! This guy got $45K in PPP loan funds. Guess we're never getting back that money now. Straight up. Dems
Source: FoxBusiness - 🏆 458. / 53 Read more »

Taco Bell starts business school for aspiring franchise ownersTaco Bell is on a mission to help its employees level up their skills and maybe even own a restaurant franchise in the future with a specialized fast food school.
Source: FoxBusiness - 🏆 458. / 53 Read more »