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McConnell says Senate to vote on PPP bill next week

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Racist policies have led to COVID-19 being more dangerous and deadly for Black, Latino, Asian and Indigenous Americans than for white Americans.

USA TODAY

WASHINGTON – Senate Majority Leader Mitch McConnell announced Tuesday the Senate would vote on a roughly $500 billion COVID-19 stimulus plan next week, only two weeks before the election, as President Donald Trump urged Republicans to “go big or go home” on stimulus. 

McConnell said in a statement the Republican-led Senate’s “first order of business” once they return Monday would be to vote on a “targeted” relief plan, including new funding for the Paycheck Protection Program (PPP), a loan forgiveness program for small businesses. 

“Unless Democrats block this aid for workers, we will have time to pass it before we proceed as planned to the pending Supreme Court nomination as soon as it is reported by the Judiciary Committee,” he said, referring to the ongoing

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More PPP loan questions after companies paid dividends, bought their own stock

Under the Small Business Administration rules, a PPP loan could be used only to meet payroll and pay mortgage interest, leases or utility bills. PPP loan recipients weren’t prohibited from paying investors with other funds, as long as the PPP funds were kept separate.

Still, some advocacy groups believe companies that had enough cash on hand to pay millions in dividends and stock purchases were unlikely to qualify for the PPP program, which was designed to assist troubled companies in keeping employees on the payroll during weeks when they were unable to do business because of pandemic-related lockdowns.

“The Trump administration wrote the PPP rules and sent billions of dollars to the well-resourced and well-connected rather than actual small businesses struggling during this public health and economic crisis,” said Kyle Herrig, president of an advocacy group called Accountable.US. “The fact that there was little transparency or accountability under this program

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New Jersey Lawyer Issued Almost $9 Million in PPP Loans, Bought House, Invested In Stock Market, DOJ Says

A New Jersey attorney was indicted on Tuesday with multiple counts of bank fraud for allegedly obtaining $9 million in federal Paycheck Protection Program (PPP) loans.



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Jae H. Choi of Bergen County submitted four fraudulent applications for PPP loans to four lenders on behalf of four businesses that were said to provide educational services, according to filed documents and statements made in court. He allegedly lied about the existence of hundreds of employees on the application, manipulated bank records, and falsified a driver’s license—while stating that these companies paid over $3 million in monthly wages.

HEROES vs. HEALS Act: How Stimulus Packages Differ Ahead Of Second Coronavirus Relief Aid

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In one instance, Choi falsely claimed in an email to a lender that he told 150 of his employees that they would lose their jobs because the PPP loans had not

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Continue Reading New Jersey Lawyer Issued Almost $9 Million in PPP Loans, Bought House, Invested In Stock Market, DOJ Says