companies with fewer than 50 workers before the pandemic saw their hiring rise 12% in May, while jobs grew just 5% in larger firms, suggesting PPP helped fuel rehiring.But the program was only intended to carry the economy through a short interruption from the pandemic, which is now threatening to have a longer-lasting impact. The Treasury Department initially required the loans to be spent within eight weeks of being received, though that was later extended to 24 weeks.
A survey by the National Federation of Independent Business found that as of mid-June, 14% of small businesses that borrowed from the PPP expected they would have to lay off some workers when their loan ran out. The public may never know the identity of more than 80% of the nearly 5 million beneficiaries to date because the administration has refused to release details on loans under $150,000. That secrecy spurred a lawsuit by news organizations including The Associated Press.
Among the Trump-linked churches that received PPP loans was First Baptist Dallas, the Texas megachurch where senior pastor and White House ally Robert Jeffress hosted Vice President Mike Pence for a pre-July 4 service. Jeffress’ church reported retaining nearly 300 jobs with its loan of between $2 million and $5 million.
And according to an analysis by Beth Ann Bovino, U.S. chief economist at Standard & Poor’s, some states with the smallest increases in unemployment from the pandemic got more loans than harder-hit states.
With schools preparing to reopen, is before and after-school programs preparing also? What about school bus riders' precautions?
Wonder how conservatives will justify this one?
If 650,000 businesses received funds, then some of them are bond to be backing a political party. Some Democrat, some Republican, and some both parties. This isn't news, it's propaganda.
The well connected raiding the national treasury under the pretense of an economic need because of Covid19 affect on their businesses, is nothing but ROBINHOOD IN REVERSE. Every dollar of the PPP will end up in the bank acct. of the already wealthy.
All lobbyists!
realDonaldTrump EricTrump Mike_Pence JoeBiden ProjectLincoln UDBidenInst TeamTrump. And you say the D’s will tax the middle class? Not your buddies? And you talk about economic recovery (with state money). Give Trump a bit. Trump then gives a LOT!!
So PPP was the 'quid pro quo' bill?
Your headline made me read the article. You win ap. Your headline is very misleading. How about here are companies that took the PPP money.
My shocked face
Does this mean Trump had to avoid giving to any of his donors?
Biden and Pelosi-tied firms receive PPP funds...
lumar33 What's Steve like when you hang out? Does he talk like he's been drinking at undertaker's conference in Vegas about 'the trade,'...Does he even reference the human casualties? Or is it just numbers...profits?...& what's the response of his audience? VoteBlueToSaveAmerica2020
And this information surprises who? People & business who donate expect pay back. Need business money out of political campaigns Need time & money limits on political campaigns Need a Supreme Court that does not support corruption & obstruction from the Executive Branch.
Fake news
LilyEPloski Is anyone really surprised?!!!
Absurd! No wonder Mnuchin resisted releasing the information.
They gave Kanye my tax money 😂😂😂
Spread the word! BlackLivesMatter BLM Republicans say Black lives don't matter so what are gonna do? TakeTheirSeats At the Local level At the State level At the Federal level At the Executive level Unseat every single Republican November 3, 2020
Like I trust a frickin word you text, type or say
No one is at all surprised. CorruptAndComplicitGOP
I'm Not a trump fan but let's Tell the Whole Truth there are a lot of the people preaching from their secluded and security protected hide aways that made Alot of$$$$$$$$ Tell the whole Truth for once
Socialism works great for the riches! Maybe try it to people that actually need it
Donnie controls the all mighty dollar... LOL 😂
gut this fish Send a message to repressive and elitists leaders by charging Trump with CrimesAgainstHumanity
The GOP are the real swamp. Traitors, corrupt liars & criminals.
Well no wonder they didn't want to tell us...
No Dems favs Im sure
SenThomTillis? Man, I thought you were helping small business in North Carolina!
The TRAITORS ADMINISTRATION has 2 types 1. The TRAITORS “pals” who are as corrupt as the TRAITOR. 2. Totally inept at their job, do more harm than good and are good followers.
Yeah I think trump went through all 650k and dug into their backgrounds!
benlubeck papabless
YEA, trump family and friends!!!! CORRUPTION, THEFT at it's most insidious form!!!!!!
DOTs- (donors of tRump) got funds from our hard-earned tax paying citizens. The GOP wants to cut off unemployment benefits for all those who lost their jobs because they are afraid they may not return to work because $600 is such a huge amount of money. Yeah right. Hypocrites
Inbreeding amongst the wealthy is well documented throughout history, the wealthy own and make up the legislature, politicians are purchasable whores and traitors to the principles the nation was founded upon. It’s an internal tyranny of money and an unsophisticated aristocracy.
I'm firmly confident that 90% of the comments to this tweet are made by absolute morons.
How do you sleep at night?
Corrupt MF’ers. All of them. Disgraceful.
what we call a small business ?
Did anyone seriously think those loans were ever gonna reach the people that needed them? GOP and their Russian asset traitor in Chief have not done anything in over 3 years to help Americans. The tax cuts, the PPP loans all of it going into tRump or his donors!AmericaOrTrump
sherrilee7 Gosh maybe neutral oversight would be good
Remember, Trump proclaimed himself the oversight authority of this $billion slush fund of taxpayer’s money.
Hello Biden the White house is all yours after Nov the 4th.. Vietnam war dodger crook, Crafty, and yet a Clueless Covfefe Trump needs a miracle to win & miracles are hard to come by. Shed red, go blue! RussiaGate
No surprises here.
Were they businesses? If so what's the problem
Is anyone surprised? And, big deal. Who’s gonna do anything about it
FashnActivists Like we never saw that coming. RacistInChief
The Trump Administration is corrupt. DrainTheSwamp VoteBlueToSaveAmerica
Con man trump TrumpCorruption
'Other recipients included Kanye West’s clothing and sneaker brand Yeezy'
Now do Democratic donors
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