Lawmakers are not excluded from participating in the Paycheck Protection Program, and politicians from both sides of the political aisle received loans for their businesses. Companies across the country received $787.2 billion in loans, the Small Business Administration said. The program, established by the Coronavirus Aid, Relief and Economic Security Act, aka CARES, began in March 2020 to help small businesses affected by COVID-19 cover payrolls and, in some cases, hire back employees who were laid off. Small Business Administration, which implemented the Paycheck Protection Program with the Treasury Department. ProPublica’s database was made with information obtained through Freedom of Information Act requests from the U.S. But other social media users have used a database established by the nonprofit news organization ProPublica that tracks businesses that received loans from the program. The Instagram post and original tweet do not name a source for the loan amounts. “The PPP helped people remain employed while the government literally shut down much of the economy,” Norman said.īharat Ramamurti, deputy director of the president’s National Economic Council, told reporters the comparison was fair and Republicans were following a double standard. Ralph Norman, R-S.C., whose businesses had their loans forgiven, said it “takes a special kind of idiocy to equate (student debt forgiveness) to the PPP. (Read more about our partnership with Facebook.)Ĭomparing the Paycheck Protection Program with student debt forgiveness is not entirely parallel, as the business loans were designed to be forgiven as long as the money went toward pandemic-related costs and expenses. Instagram is owned by Facebook’s parent company, Meta. The Instagram post was flagged as part of Facebook’s efforts to combat false news and misinformation on its News Feed. The organization was responding to a post from the House Judiciary GOP’s Twitter account that said, “If you take out a loan, you pay it back. The list is a screenshot from Twitter of a tweet made by the Center for American Progress Action, a left-leaning public policy think tank. Alongside each name was a federal loan figure in the thousands or millions of dollars that had supposedly been canceled under that pandemic-era program. 24 Instagram post that listed the names of 13 members of Congress, including Rep. “Republican members of Congress whose PPP loans were forgiven,” read an Aug. That’s when the plan’s proponents, including the White House itself, fired back with what they suggested was evidence of Republican hypocrisy: screenshots of Paycheck Protection Program loan forgiveness that purportedly benefited these same congressional members. And the House Judiciary GOP tweeted, “If you take out a loan, you pay it back. Markwayne Mullin, R-Okla., said the relief shouldn’t be footed by farmers, ranchers and teachers. Vern Buchanan, R-Fla., said it would be unfair to people who didn’t take on loan or who already paid theirs off. Conservative politicians have condemned President Joe Biden’s plan to cancel certain student debt.
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