White House Reveals Large Organizations Received PPP Loans

Headline Roundup July 7th, 2020

After pressure from Congress to release taxpayer-funded loan recipients, the White House revealed the names of borrowers on Monday. The Paycheck Protection Program (PPP) was designed by Congress to help small businesses survive the COVID-19 lockdowns, but many of the $521 billion in loans also went to large corporations, some with connections to the administration.

Coverage from all sides of the political spectrum focused on the many large organizations who claimed loans. Some voices from the left emphasized several evangelical and religious organizations with ties to the Trump administration who received funds. Some voices from the right also highlighted a prominent left-rated media outlet who reportedly received $1-$2 million in PPP loans.

White House Reveals Large Organizations Received PPP Loans

From the Right
302

Media Matters for America, the George Soros-funded left-wing nonprofit organization, received between $1 million and $2 million in loans under the federal Paycheck Protection Program (PPP), according to Treasury Department data released Monday.

The loan money, intended to provide relief to small businesses that were shuttered because of the coronavirus pandemic, was approved for Media Matters by Bank of America on April 29, after the progressive outlet criticized the Trump administration for its handling of the rescue funds, suggesting the administration would not seek “enough to do the job.”

Read full story
From the Center
302

WASHINGTON—Congress designed the Paycheck Protection Program to help small businesses weather fallout from the coronavirus pandemic, but the program’s $521 billion in loans also went to well-heeled and politically connected firms across the economy, including law offices, charities, restaurant chains and wealth managers.

The Trump administration released the names of borrowers for the first time Monday, following pressure by Congress and others to disclose who received the taxpayer-funded loans.

Read full story
From the Left
302

WASHINGTON — A Dallas megachurch whose pastor has been a vocal supporter of President Donald Trump was approved for a forgivable loan worth $2 million to $5 million, according to long-awaited government data released on Monday.

Vice President Mike Pence spoke at a rally last month at the First Baptist Church of Dallas, whose pastor, Robert Jeffress, has been on Trump's evangelical advisory board.

Read full story