Last month, the Trump administration backtracked on its earlier vow to disclose the recipients of taxpayer-funded Paycheck Protection Program loans meant to help small businesses weather the economic fallout from the coronavirus crisis. Treasury Secretary Steve Mnuchin claimed at the time that reporting the names of beneficiaries, and amounts received, would risk revealing “confidential information.” But under pressure from congressional committees, the administration reversed again, releasing its PPP records Monday.
It turns out, the White House may have had good reason to want to keep the data under wraps. While much of the nearly $660 billion went to the small businesses it was designed to help prop up, a sizable slice of the pie went to large corporations, organizations with connections to political elites, and—predictably—companies linked to Donald Trump and his associates and allies.
Marty Wulfe
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