Posts tagged cost of PPP fraud at $80 billion

    News Article Research ● Corruption Unions

    How did $1.2M in PPP loans get to Pennsylvania unions? Congressional Republicans want to know

    April 18, 2022 // The PPP loans were made quickly by the Small Business Administration in the early days of the pandemic to avoid mass layoffs. Yet the speed in which $800 billion of taxpayer money was doled out left the program liable to waste, fraud, and abuse. An NBC News investigation estimated the cost of fraud at $80 billion, or 10% of the overall fund. That’s in addition to a $900 billion COVID-19 relief fund that may have been defrauded of $90 billion-$400 billion.

    Anthony Hennen auditing process Beth Van Duyne Blaine Luetkemeyer Center Square congressional Republicans cost of PPP fraud at $80 billion fraud fraud investigation Freedom Foundation Graphic Communication Union Local 4C IATSE Local 489 IBEW Local 375 labor organization layoffs legally unable to receive funds NBC News investigation Operating Engineers Local 66 AFL-CIO Pa. AFL-CIO Pandemic Paycheck Protection Program Pennsylvania PPP PPP loans PPP loans were restricted to businesses President Joe Biden Rep. Rick Allen SBA Small Business Administration Teamsters Local Union No. 77 The Training And Education Fund UFCW Local 1776 unions Virginia Foxx waste