House Panel Warns of Fraud, Abuse in Paycheck Protection Program
WASHINGTON (AP) — Congressional investigators say they have identified possible fraud and abuse in the Trump administration’s coronavirus relief program.
A report by a House subcommittee says a lack of government oversight and accountability for the $600 billion-plus program may have led to billions being misspent.
Congressional investigators are also concerned that more than $1 billion went to companies that received multiple loans.
The administration’s Paycheck Protection Program was a signature piece of the U.S government’s response to the pandemic.
The loans are forgivable if businesses use the money to keep employees on the payroll or rehire workers who have been laid off.