PPP. Archives - The Michigan Star

Commentary: A Modicum of Justice in Michigan for a COVID-Exploiting Teachers’ Union

March 21, 2023March 20, 2023 RealClearWire

Group of young students at table, reading and wearing masks

America’s teachers’ unions exploited the COVID-19 pandemic to maximum effect, leveraging school lockdowns for which they lobbied to pursue political demands stretching far beyond their salaries and benefits – and helping drive a $190 billion windfall in taxpayer dollars to K-12 schools.

The public bore that cost, in children’s learning loss and mental health struggles; in the burdens the closures placed on parents already struggling to make ends meet in an economy crippled by government decree; and on the literal costs that the teachers’ unions passed on to taxpayers.

Michigan’s Largest Teachers Union Must Reimburse Taxpayers for Wrongfully Taking COVID Relief Aid

March 7, 2023March 6, 2023 The Center Square

Michigan’s largest teachers union and its health insurance affiliate must repay the U.S. government more than $200,000 after taking $12.5 million in federal loans for which they were ineligible.

Lawmakers intended Paycheck Protection Program loans to help small businesses afford to pay their employees during the initial COVID-19 shutdowns.

Fraudsters Used Paycheck Protection Program Loans for Bentleys, Diamonds, Luxury Homes: Watchdog

December 7, 2021December 6, 2021 Michigan Star Staff

woman on laptop with eye glasses and mug next to her

This week’s Golden Horseshoe goes to the Small Business Administration for millions in Paycheck Protection Program loans it issued to fraudsters who used the money to purchase luxury homes, high-priced jewelry and expensive cars, including a Bentley and two Lamborghinis, according to a watchdog report.

The Paycheck Protection Program had the highest percentage of cases of criminal activity of all the pandemic relief programs, according to the Pandemic Response Accountability Committee’s recent Semiannual Report to Congress.

“A total of 14 OIGs have indictments/complaints, arrests, and/or convictions from April 1, 2021, through September 30, 2021, related to the federal government’s COVID-19 pandemic response,” PRAC reported.

Commentary: Did PPP Work?

April 1, 2021March 31, 2021 Michigan Star Staff

As the Small Business Administration official who oversaw the Paycheck Protection Program, I’m often asked, “Did PPP actually work?”

PPP was a response to state and local governments mandating shutdowns as a way to slow the spread of COVID-19. The premise was this: Encourage lenders to provide small businesses and nonprofits with forgivable, SBA-guaranteed loans over an eight-week period as a payroll-support measure. This small business financial support was designed to help prevent mass unemployment as Americans were confined to their homes.

Republicans Will Put PPP Funding Back on the Floor for a Vote Despite Democrats’ Efforts to Block It, Sen. Blackburn Says

October 22, 2020October 21, 2020 Jason M. Reynolds

U.S. Sen. Marsha Blackburn (R-TN) told CNBC’s SquawkBox on Wednesday that Republicans will try again to pass their bill that would provide PPP and vaccine funding despite Democrats’ attempts to block the efforts.

CNBC asked Blackburn if she would vote for a deal if the White House and the Treasury Department reached an agreement with House Speaker Nancy Pelosi (D-CA-12).

Man Arrested After Illegally Obtaining $8.5 Million in Coronavirus Relief

July 18, 2020July 17, 2020 Michigan Star Staff

A California man was arrested on Thursday after being charged with fraudulently claiming $8.5 million in coronavirus relief funds through the Payment Protection Program (PPP) and spending hundreds of thousands at a Las Vegas casino, the U.S. Department of Justice (DOJ) announced.

The criminal complaint charges Andrew Marnell, 40, of Los Angeles, CA, with submitting fake documents in the PPP funding application, lying about the expenses and business operations of several businesses and using fake aliases to obtain these federal government sourced funds.

Paycheck Protection Program Is Supporting More Than 51 Million Small Business Jobs, Trump Administration Announces

July 8, 2020July 7, 2020 Michigan Star Staff

The $670 billion Paycheck Protection Program (PPP) has supported more than 51 million jobs since its launch in April, the Treasury Department and Small Business Administration announced Monday as it released information on 4.9 million loans disbursed by the program.

“The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,” Treasury Secretary Steven Mnuchin said in a statement Monday.

Wells Fargo Bows Out of Small Business Bailout Program After Receiving $10 Billion of Loan Applications

April 8, 2020April 7, 2020 Michigan Star Staff

One of the largest banks in the United States announced that it is no longer accepting applications for a federal program aimed at rescuing small businesses affected by the coronavirus pandemic.

Wells Fargo has stopped accepting new applications for the government’s Paycheck Protection Program, an initiative created by the government to assist U.S. businesses that employ fewer than 500 people. The bank’s decision came after it was inundated with billions of dollars in loan requests since Friday.