Steve Mnuchin Already Wants To Forgive Billions In PPP Loans

[Yo_Mama_Been_Loggin]

Treasury Secretary Steven Mnuchin suggested Friday that taxpayer-funded COVID-19 business loans under a certain amount could be automatically forgiven without compliance checks.

That would likely mean an unprecedented $130 billion in loans under the Paycheck Protection Program would turn into grants to private businesses.

The PPP loans, which were part of a $2 trillion coronavirus relief act passed in March, were designed to be forgiven once borrowers proved the money was used for certain business expenses, like payroll, rent and utilities. That wouldn’t be necessary if loan forgiveness becomes automatic.

“Should we ... have forgiveness for all the small loans? … I think that’s something we should consider,” Mnuchin said at a congressional hearing Friday, when asked how the process to forgive loans could be streamlined.

https://www.yahoo.com/huffpost/steve-mnuchin-ppp-forgiveness-loans-130537167.html



We got ours. Fuck the rest of you peons.

[captain queeg]

1. But cutoff unemployment. And especially never let anyone get out of student loans

[stopbush]

6. Yup. They'll use the forgiveness of these business loans as a "reason"

to not extend UI benefits.

[onecaliberal]

2. They've been waiting to loot the treasury like this for three years.

[BigmanPigman]

3. Where are the regulations

and the House investigating thses loans to churches, friends of the GOP, etc?

[JDC]

4. We can't see who got the loans and they don't have to pay them back

Everything is fine here.

[tinrobot]

5. Not grants, grift.

Literally handing our tax dollars to their cronies.

[elias7]

7. Right, we the taxpayers will pay them off, just like we are paying for the stimuli

[I_UndergroundPanther]

8. They never forgive loans they give to the poor,

Working class.

But the poor widdle billionaires they can't afford to pay it baaack,wahhwahh..

[JI7]

9. The ones that will be forgiven are the ones where Trump and his shitty people were given a cut

[pfitz59]

10. The mouing skank

"But Stevie dah-link, these are measly $1 bills. Were are the hundreds you promised?"