Posted on Jul 10, 2020
Congress created PPP loans—then at least 12 members reaped their benefits
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If you don't feel like reading I will give you the names here.
Mitch McConnell (R)
Carol Miller (R)
Markwayne Mullin (R)
Devin Nunes (R)
Vern Buchanan (R)
Roger Williams (R)
Mike Kelly (R)
Kevin Hern (R)
Vicky Hartzler (R)
Nancy Pelosi (D)
Jeanne Shaheen (D)
Matt Cartwright (D)
Susie Lee (D)
Mitch McConnell (R)
Carol Miller (R)
Markwayne Mullin (R)
Devin Nunes (R)
Vern Buchanan (R)
Roger Williams (R)
Mike Kelly (R)
Kevin Hern (R)
Vicky Hartzler (R)
Nancy Pelosi (D)
Jeanne Shaheen (D)
Matt Cartwright (D)
Susie Lee (D)
Congress created PPP loans—then at least 12 members reaped their benefits
Posted from fortune.com
Money
Congress
Loans
Posted 4 y ago
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"The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll."
Source: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
Let's get this straight. In most cases, due to edicts by governor's, businesses did not have the choice whether or not to stay open, or to reduce staffing. The PPP loans allowed businesses to keep employees ON THE PAY ROLL, INSTEAD OF BEING LAID OFF. The PPP is about employees not employers
So would everyone be happier if those employees were laid off and moved to the unemployment rolls? Maybe I don't understand the PPP. Someone please explain to me how laying people off was more ethical, or explain how the aforementioned legislators used the PPP to line their pockets.
LTC Eugene Chu SFC (Join to see) 1SG John Furr Cpl (Join to see)
Source: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
Let's get this straight. In most cases, due to edicts by governor's, businesses did not have the choice whether or not to stay open, or to reduce staffing. The PPP loans allowed businesses to keep employees ON THE PAY ROLL, INSTEAD OF BEING LAID OFF. The PPP is about employees not employers
So would everyone be happier if those employees were laid off and moved to the unemployment rolls? Maybe I don't understand the PPP. Someone please explain to me how laying people off was more ethical, or explain how the aforementioned legislators used the PPP to line their pockets.
LTC Eugene Chu SFC (Join to see) 1SG John Furr Cpl (Join to see)
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SFC (Join to see)
Great point sir. I don’t know all the rules contained in this relieve, one needs to be a lawyer to understand it. I do know some small business owners who explained the help provided was "very generous". There are still some businesses closed in my neck of the woods here. Not able to understand why a business wouldn’t want to get open as soon as possible, several people have explained to me it’s because they are making more right now be being closed. I can’t understand it. Maybe I need to take the time to read the entire law they passed to see if I can understand it.
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