That was my first reaction...Steve Mnuchin wants to forgive these loans? Then I remembered that most of the money went to corporations and Trump-tied companies.
Uh-huh. This change of heart comes after Mnuchin was forced to release the identities of companies receiving the loans.“We’re going to have a very robust process to review loans before loans are forgiven,” Mnuchin said. “In the forgiveness process, people will be required to provide much more data and that data will be released.”
He said businesses would have to provide detailed information on how much money was used to pay workers and the number of jobs that were retained.
Politico
Of course not. The people he's trying to protect got a hell of a lot more than that.He didn’t specifically endorse the threshold of forgiveness for all loans of $150,000 or less that a large group of industry trade associations have advocated for.
"This time." LOL.“This time we need to have a revenue test and making sure money is going to businesses that have significant revenue declines,” Mnuchin said, adding that no preference should be given to specific industries.
Happy to work with is politic-speak for "I'll do whatever I can to prvent it."He also said he’d be happy to work with Congress on additional restrictions, like conflict-of-interest provisions. Critics have pointed to PPP loans given to businesses tied to both members of Congress and the family of President Donald Trump.
...but hey, do what you want...you will anyway.
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