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Keyword: ppp

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  • Exclusive: U.S. taxpayers' virus relief went to firms that avoided U.S. tax

    05/28/2020 7:03:11 AM PDT · by Oldeconomybuyer · 7 replies
    Reuters ^ | May 28, 2020 | by Tom Bergin, Lawrence Delevingne
    LONDON/BOSTON - Last month Zagg Inc, a Utah-based company that makes mobile device accessories, received more than $9.4 million in cash from a U.S. government program that has provided emergency loans to millions of businesses hit by the coronavirus. The money was part of the $660 billion Paycheck Protection Program (PPP) - a linchpin of President Donald Trump’s economic rescue package, meant to save small firms convulsed by the pandemic and help them to keep workers on the payroll. Claimants certified the loans were necessary to support their business and received an average of $115,000 as of May 26, according...
  • Appeals court denies lobbyists' efforts to access small-business loan program

    05/26/2020 10:48:08 AM PDT · by yesthatjallen · 3 replies
    The Hill ^ | 05 26 2020 | Harper Neidig
    A federal appeals court on Tuesday rejected an effort by a group of lobbyists and political consultants to obtain access to the Paycheck Protection Program (PPP) and its emergency loans for small businesses hit by the coronavirus pandemic. A three-judge panel on the D.C. Circuit Court of Appeals upheld a federal judge's decision not to grant a request by the American Association of Political Consultants (AAPC) for a preliminary injunction against the Small Business Administration (SBA), which oversees the lending program. In a three-page decision, the panel rejected the group's argument that excluding lobbyists and political consultants from the loans...
  • The Deeply American Reason The Oldest Saloon West Of The Mississippi Won’t Have To Shut Down Forever

    05/24/2020 7:05:45 AM PDT · by Kaslin · 15 replies
    The Federalist ^ | May 24, 2020 | Christopher Bedford
    Starting life before there was a town as four walls and some dry goods for fur trappers, it served its first beer just 19 years after the town was founded and near-half a century before it was incorporated.The story below is the third in a series on America’s small businesses, their struggles under the shutdowns, and what they’re doing to survive. Over two weeks, The Federalist is traveling the country to tell more stories like this one.HUNTSVILLE, UTAH — Across the Wasatch mountains from the county seat of Ogden, in a tony country neighborhood by the Pineview Reservoir, and around...
  • 27 GOP senators ask AG Barr to investigate Planned Parenthood getting PPP funds

    05/21/2020 10:34:32 AM PDT · by knighthawk · 4 replies
    Fox News ^ | May 21 2020 | Tyler Olson
    Sen. Tom Cotton, R-Ark., led a letter signed by 27 Republican senators asking Attorney General William Barr to investigate how several Planned Parenthood affiliates got $80 million worth of coronavirus relief funds from the Paycheck Protection Program (PPP) despite rules restricting them from receiving the money due to the number of employees the organizations have. The letter comes after "Tucker Carlson Tonight" learned earlier this week that the Small Business Administration (SBA) is reaching out to the affiliates that improperly self-certified that they are eligible for the stimulus cash aimed at keeping small businesses afloat during the pandemic, and asking...
  • ‘We Had To Lay Off Our Son’: American Businesses Are Doing Everything It Takes To Survive

    05/21/2020 7:43:35 AM PDT · by Kaslin · 16 replies
    The Federalist ^ | May 21, 2020 | Christopher Bedford
    The weight to having a family business,' Raymond says while guiding me through massive walk-in freezers holding a fraction of their capacity, 'is you don't want to be the one who fails.'The story below is the second in a series on America’s small businesses, their struggles under the shutdowns, and what they’re doing to survive. Over two weeks, The Federalist is traveling the country to tell more stories like this one (and a few about the outlaws).SALT LAKE CITY, UTAH — Raymond and Jill Zaelit massively expanded their facilities in 2017. Their business is meat, or more specifically, carving, crafting...
  • D.C. Prep School Beloved by Dem Leaders Refuses to Return Gov’t Loan

    05/13/2020 5:50:54 AM PDT · by kevcol · 24 replies
    Washington Free Beacon ^ | May 12, 2020 | Charles Fain Lehman
    Sidwell Friends School, a Quaker-affiliated independent school known for enrolling top lawmakers' children—including the daughters of former presidents Bill Clinton and Barack Obama—accepted a $5.2 million loan under the Paycheck Protection Program (PPP), Congress's bailout fund for small businesses affected by the coronavirus crisis. The school, which brings in over $40 million in tuition annually, declined to give back the loan after Secretary of the Treasury Steven Mnuchin called on "private schools with significant endowments" to "return" PPP funds. In a letter to the community, the board of trustees cited its "fiduciary responsibilities" as well as "our Quaker values" in...
  • Kennedy rips House Dems' coronavirus stimulus proposal: 'It's dead as fried chicken in the Senate'

    05/12/2020 11:14:13 PM PDT · by knighthawk · 19 replies
    Fox News ^ | May 12 2020 | Charles Creitz
    Senate Judiciary Committee Member John Kennedy, R-La., channeled actor Jack Nicholson Tuesday to describe his response to the latest coronavirus stimulus bill pushed by House Speaker Nancy Pelosi, D-Calif. "Go sell crazy somewhere else, we're all stocked up here," Kennedy told "Hannity," quoting Nicholson's character Melvin Udall in the 1997 movie "As Good As It Gets."
  • Why the Latest Unemployment Report Isn't Nearly As Bad As It Looks

    05/10/2020 7:58:31 PM PDT · by SeekAndFind · 38 replies
    RCM ^ | 05/09/2020 | Jason Kelly
    Yesterday's employment report for April showed 20.5 million jobs lost and an unemployment rate of 14.7%. This is its worst since the Great Depression. It was at a 50-year low of 3.5% just two months ago. Awful, yes, but only half as bad as it looks for the economy. Why? Because roughly half of American workers can earn more from unemployment benefits than they earned at their jobs prior to the coronavirus shutdown, according to Eric Morath at the Wall Street Journal. On top of state unemployment, federal coronavirus stimulus is adding $600 per week. With my sister, I co-own...
  • Chip Roy: ‘Sure As Hell’ No Bailouts For State, Local Govts That Continue Economic Shutdown

    04/25/2020 1:31:59 PM PDT · by Kaslin · 24 replies
    The Federalist ^ | April 24, 2020 | Christopher Bedford
    Senior Editor Chris Bedford interviews Congressman Chip Roy on federal bail outs and reopening the economy amid the coronaviurs shut down. No dime of bailout money should go to state or local governments that continue “to lock down commerce,” Texas Rep. Chip Roy told The Federalist Radio Hour in a far-reaching Friday interview now available in its entirety. “Frankly, I’ve got to think about [giving money] at all, but if we think it’s appropriate to help them from losing some of their tax base, I sure as hell don’t want money to [state and local governments] who are continuing to...
  • Small Businesses Welcome Second Round of Relief

    04/25/2020 4:23:03 AM PDT · by Kaslin · 1 replies ^ | April 25, 2020 | Elaine Parker
    On Thursday, Congress approved another wave of small business relief. An additional $310 billion has been appropriated to replenish the popular Paycheck Protection Program (PPP)—which provides forgivable loans to America’s small business community. These entrepreneurs have been on the frontlines of the pandemic and keeping them primed will be the key to restarting the economy as the country begins to reopen. The initial $349 billion allocated for the PPP under the CARES Act was a blockbuster hit among the country’s entrepreneurs. Within 14 days of launching, the funding limit was reached and over 1.6 million businesses were approved for loans—which...
  • She got two forgivable coronavirus loans. Her employees hate her for it.

    04/22/2020 7:06:29 PM PDT · by BurgessKoch · 120 replies
    CNBC ^ | April 22, 2020 | Greg Iacurci
    Jamie Black-Lewis felt like she won the lottery after getting two forgivable loans through the Paycheck Protection Program. Black-Lewis saw the $177,000 and $43,800 loans, one for each of the spas she owns in Washington state, as a lifeline she could use for payroll and other business expenses. She’d halted pay for the 35 employees — including herself — at Oasis Medspa & Salon, in Woodinville, and Amai Day Spa, in Bothell, in mid-March, when nonessential businesses in Washington closed due to the coronavirus pandemic. When Black-Lewis convened a virtual employee meeting to explain her good fortune, she expected jubilation...
  • Bad Bankers Are How Big Business Beats Small Business, But Congress Can Fix It

    04/22/2020 4:55:36 AM PDT · by Kaslin · 10 replies
    The Federalist ^ | April 22, 2020 | Christopher Bedford
    There are reasons major companies got massive loans from the Senate's 'small business' bailout while thousands of small businesses that applied immediately were told there was no money left. There are reasons major companies got massive loans from the Senate’s “small business” bailout while thousands of small businesses that applied the first day funds were available were told there was no money left. Who is to blame, however, is more complicated.Imagine bankers who won’t deliver you taxpayer assistance unless you already owe them money. Imagine bankers who will put you at the back of the line so that franchises worth...
  • Burger chain Shake Shack returns $10 million emergency government loan intended for small businesses

    04/20/2020 4:03:07 PM PDT · by nickcarraway · 48 replies
    KSBW ^ | Apr 20, 2020 | Michelle Toh
    Shake Shack is returning a $10 million loan it received from the U.S. government under an emergency program that was touted as a way to help small businesses pay workers and keep their operations running during the coronavirus crisis. The burger chain was awarded the loan as part of the Paycheck Protection Program (PPP). The $349 billion stimulus package, overseen by the Small Business Administration (SBA), ran out of funding last week. Over the last few days, there has been a growing backlash over the distribution of the funds. Several media outlets have revealed how large chunks of the package...
  • While Pelosi Fiddles, McConnell Plans Additional Senate Session to Help Small Businesses and Workers

    04/20/2020 1:47:41 PM PDT · by Kaslin · 24 replies ^ | April 20, 2020 | Katie Pavlich
    Senator Majority Leader Mitch McConnell announced an unplanned Senate session will take place Tuesday as Democrats continue their refusals to restock funding for the Paycheck Protection Program.  “It’s now been four days since the Paycheck Protection Program ran out of money. Republicans have been trying to secure more funding for this critical program for a week and a half. At this hour, our Democratic colleagues are still prolonging their discussions with the Administration, so the Senate regretfully will not be able to pass more funding for Americans’ paychecks today," McConnell said in remarks on the floor Monday. “However, since this is...
  • Rubio Offers Pelosi Ice Cream in Exchange for Small Business Funding

    04/18/2020 8:44:14 AM PDT · by rktman · 8 replies ^ | 4/17/2020 | Bronson Stocking
    was unaffected by the coronavirus, appeared virtually on a late-night television show to flaunt her mansion and personal stockpile of gourmet ice cream. "I like it better than anything else," the speaker mused, in the middle of a viral outbreak that has killed tens of thousands of Americans and left millions unemployed. The PPP was part of the CARES Act, the relief bill passed after the government shut down businesses they deemed nonessential. Small businesses, which employ a majority of the workforce, were depending upon the PPP for funding to retain workers and keep their businesses afloat as the government...
  • Trump To Pelosi: “End Your ENDLESS VACATION” And Get Congress Back To Work On Funding PPP

    04/17/2020 10:16:38 AM PDT · by SeekAndFind · 34 replies
    Hotair ^ | 04/17/2020 | Ed Morrissey
    What? And leave the safety of her twin $12,000 freezers? Donald Trump has signaled over the last twenty-four hours that if Nancy Pelosi wants to play hardball over an issue of replenishing the Paycheck Protection Program from afar, he’s willing to play hardball, too. For the second day in a row, Trump demanded that Pelosi and Chuck Schumer bring Congress back into session and start dealing with the COVID-19 crisis in person.The “ENDLESS VACATION” is a nice touch, but I still prefer the Brave Sir Robin Congress: Today people started losing their jobs because of Crazy Nancy Pelosi, Cryin’...
  • The Government Is Destroying Our Cities, But Trump Might Be Onto A Cure

    04/16/2020 7:45:04 AM PDT · by Kaslin · 6 replies
    The Federalist ^ | April 16, 2020 | Christopher Bedford
    There are a lot of people on Wall Street and in Washington who see no problem with an America defined by big box stores and chain restaurants. California released a plan Tuesday to reopen businesses. One thing conspicuously missing from the governor’s slideshow was any sort of timeline, replaced instead by a six-point plan to remake society around fear of the coronavirus. Could be June, he said in a press conference, or even July or August. One thing conspicuously included was the observation that “things will look different,” including restaurants having to open “with fewer tables.” California’s Gov. Gavin Newsom...
  • Why Churches Should NOT Take The PPP Loan From The Government!

    04/15/2020 11:11:02 AM PDT · by tbw2 · 13 replies
    Dave Ramsey ^ | 04/14/2020 | Dave Ramsey
    Why Churches Should NOT Take The PPP Loan From The Government!
  • Small Business Owners: Do you understand Congress has agreed to pay two months of your payroll/rent/utilities, to the extent your business has been affected by Coronavirus?

    04/01/2020 11:51:27 AM PDT · by TheConservator · 45 replies
    Has your business or non-profit been adversely impacted by the COVID-19 shut-down or slow-down? Will you be able to pay your employees? Or the rent? Will you be able to pay yourself? Congress is trying to help by giving away quite a bit of free money, and that should get your attention. There are still details to be worked out about how these new plans will be implemented, but here’s some initial info: The first and quickest option for relief is an Economic Injury Disaster Loan (EIDL) from the Small Business Administration. You can borrow funds necessary to meet expenses...
  • FRUITS OF COOPERATION: Officials laud partnership that led to new I-15 interchange

    12/24/2019 12:14:33 PM PST · by Tolerance Sucks Rocks · 6 replies
    The Idaho State Journal ^ | December 8, 2019 | John O'Connell
    Leaders who spoke during a Friday morning ribbon-cutting ceremony to open a new Interstate 15 interchange touted the $31 million project as a prime example of what can be accomplished when entities cooperate. The Northgate interchange opened to the public a few hours after the ceremony concluded, with Pocatello Mayor Brian Blad, Chubbuck Mayor Kevin England and members of the Bannock County Commission all driving their cars across the bridge as the official first users. The interchange is located north of both the Pocatello Creek Road exit and I-15’s “flying Y” with Interstate 86. The interchange was first added to...