Conversation

The Government Accountability Office, a non-partisan watchdog, just released a bombshell report on the Paycheck Protection Program (link here for oversight nerds like me). There’s a lot to unpack, but I want to share a few takeaways I’m thinking about: gao.gov/reports/GAO-20

149

2,170

5,254

Rep. Katie Porter

@RepKatiePorter

PPP is a 650,000,000,000 taxpayer funded program that gives grants to companies who keep their workers on payroll during #COVID19. It needs to work. The money has to go to the people who need it. But

@SBAgov

has essentially no plans to review 99% of PPP loans. (2/4)

9:52 PM · Jun 26, 2020

Replying to

According to the report, small businesses that didn’t need the money returned at least 3,800 loans. How are you going to know if the other 4,576,388 loans are legitimate? Any answers,

@stevenmnuchin1

@SBAJovita

? (3/4)

439

1,784

Rep. Katie Porter

@RepKatiePorter

Jun 26, 2020

I’m not holding my breath. The report says

@SBAgov

waited six weeks to answer questions from watchdogs about the PPP. The day before the deadline to respond, they sent information already available on Google. That’s what

@SBAJovita

thinks is "accountability" to taxpayers. (4/4)

423

1,757

Replying to

and

Huge fan of yours! Thank you for your thoughtful conscientious service and leadership.

(((mitch fergenbaum)))

Replying to

and

Please look for

All low management, i.e. hourly executives, have been laid off. If they’ve received 1 penny, it needs to be returned. They’re not responsible enough with their best asset, their people.

Replying to

and

UBI would streamline all these patchwork “solutions” that are costly, ineffective, clumsy, and therefore prone to errors and even worse, thievery.

Replying to

and

WTF? This money comes mostly from middle & lower-working class taxes! We need big audit trail & plus this project will employ finance ppl who lost jobs!