Mnuchin Says U.S. Should Weigh Forgiving 'Small' PPP Loans

[Yo_Mama_Been_Loggin]

(Bloomberg) -- The federal government should weigh forgiving all “small” loans provided under the Paycheck Protection Program during the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin said.

“We should consider forgiving all small loans, but would need fraud protection,” Mnuchin told the House Small Business Committee on Friday.

The government has approved more than 4.9 million PPP loans totaling $518.1 billion, as of Thursday night. Mnuchin didn’t specify what he considers a “small” loan that could be forgiven, and said that “some level of reporting in a simple way is important.”

Suggesting easier rules for PPP only touched on the larger issues confronting the Trump administration and Congress as the surge in Covid-19 infections threatens to cripple the nascent U.S. economic rebound. The uptick in job growth since the worst of the lockdown hinges on trillions of dollars in various stimulus programs that are due to expire in the coming weeks. U.S. consumer sentiment turned much more pessimistic this month, wiping out the boost from businesses reopening.

https://www.msn.com/en-us/money/small-business/mnuchin-says-us-should-weigh-forgiving-small-ppp-loans/ar-BB16RHs3?li=BBnb7Kz

Including that given to the Trumps?

[SWBTATTReg]

1. Not if they committed fraud...

[CrispyQ]

2. I do not see how we aren't facing a depression to rival the one in the 1930s.

"Tax and spend democrats." For over thirty years the repubs have hung that around our neck & not once has our side ever responded with "tax cut and spend republicans." This is why so many Americans vote against their best interests cuz only one side is out there capturing the narrative on the issues, even as they lie about their agenda.