Religious organizations across the U.S. have received at least $7.3 billion in federal rescue package loans, with evangelical leaders tied to President Donald Trump and megachurches tied to scandals pulling in some of the largest payouts.
On April 15, the Department of Justice announced that it had reached a $41 million settlement with two Florida healthcare providers— and two of its former executives over fraudulent billing claims. This quartet, the government alleged, had for half a decade asked patients to undergo unnecessary urine drug tests solely for the purpose of getting reimbursements under Medicare and Medicaid.
Federal officials responsible for spending $660 billion in taxpayer-backed small-business assistance said Wednesday that they will not disclose amounts or recipients of subsidized loans, backtracking on an earlier commitment to release individual loan data.
So if we’re going to get much oversight, particularly of the bailout aspects of the CARES Act it’s probably going to come from the Congressional Oversight Commission, which specifically was charged with monitoring the Federal Reserve’s $4.5 trillion money cannon. There are supposed to be five members on the commission; one chosen by each leader in the House and Senate, and a fifth, the chair, chosen by mutual agreement between Nancy Pelosi and Mitch McConnell.
Instead of organizing as a bloc to make coordinated demands or threatening to withhold votes, the progressive approach has been to meet with leadership individually with legislative wish lists, with the hope that working behind the scenes will influence the legislation.
A watchdog on the congressional committee tasked with overseeing the Trump administration's handling of Covid-19 bailout funds demanded an investigation Tuesday after Energy Secretary Dan Brouillette openly admitted in a television appearance that the White House pressed the Federal Reserve to alter one of its lending programs for the benefit of fossil fuel companies.
Some of the richest people in the US have been at the front of the queue as the government has handed out trillions of dollars to prop up an economy it shuttered amid the coronavirus pandemic. At the same time, the billionaire class has added $308bn to its wealth in four weeks - even as a record 26 million people lost their jobs.
Since the coronavirus pandemic was declared, Caterpillar has suspended operations at two plants and a foundry, Levi Strauss has closed stores, and toolmaker Stanley Black & Decker is planning layoffs and furlough. While thousands of their workers are filing for unemployment benefits, these companies rewarded their shareholders with more than $700 million in cash dividends
It would be an understatement to say Mitch McConnell’s suggestion that state and local governments should declare bankruptcy rather than seek more federal funding went down like a lead balloon. It was a rare instance of the Senate majority leader overplaying his hand.
Publicly traded companies have received more than $1 billion in funds meant for small businesses from the federal government’s economic stimulus package, according to data from securities filings compiled by The Washington Post.
Major donors to President Donald Trump’s presidential reelection campaign have won coveted loans from the Paycheck Protection Program, the new government effort to provide a lifeline to small businesses under duress because of the coronavirus pandemic.
Hundreds of millions of dollars of Paycheck Protection Program emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows.In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said.
Senate Majority Leader Mitch McConnell (R-Ky.) drew flak Thursday from governors in both parties after suggesting that states hit hard by the coronavirus outbreak should be allowed to seek bankruptcy protections rather than be given a federal bailout.
With the pandemic severely restricting economic activity, thousands of small businesses across the country are on the brink of collapse. Congress created the Paycheck Protection Program as a lifeline. The $350 billion fund was intended to rescue small businesses with forgivable loans to cover their payrolls for two months.
Progressives exploded in frustration Tuesday as the Senate prepared to pass an interim funding bill for coronavirus relief that once again included no funding for the Post Office, food banks, or election security, and provided no bailout oversight and no funding for states and cities—leading critics to wonder why Democratic lawmakers refused to use their leverage and hold up the bill.
House Democratic leadership came under fire Tuesday after it was reported a proposal is now under consideration to backstop for-profit healthcare insurance companies with taxpayer dollars instead of simply opening public programs like Medicare and Medicaid to those laid off or uninsured amidst the coronavirus outbreak ravaging the country.
More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.
Immediately after signing the historic $2 trillion coronavirus aid package, President Trump sought to curb oversight provisions in the bill by asserting presidential authority over a new inspector general’s office.The move could presage a major battle between the White House and Capitol Hill as the Trump administration moves to implement the new law.
The emergency coronavirus legislation that the Senate agreed to on Tuesday can only be described as an outrage. It is not an economic rescue package, but a sentence of unprecedented economic inequality and corporate control over our politics that will resonate for a generation.
In her floor speech in the House today, before the chamber votes on the $2.2 trillion relief bill, Rep. Alexandria Ocasio-Cortez (D-N.Y.), a self-described democratic socialist, said the legislation was "shameful" and laced with "greed."
While the president says he wants to help Americans workers through the coronavirus pandemic, behind the scenes his party is crafting legislation that would leave the least fortunate behind.