Paycheck Protection Payouts Give Taxpayers Plenty To Ponder
Wednesday July 8, 2020 | K. Lloyd Billingsley
The Paycheck Protection Program (PPP), part of the $2 trillion Coronavirus Aid, Relief and Economic Security package (CARES), is intended to blunt the economic damage from the current pandemic. As CNBC reports, the payouts include a $5-10 million loan for the Archdiocese of New York, $350,000 to $1 million to the Ayn Rand Institute and $1-2 million for the Joseph Kushner Hebrew Academy, named after the son-in-law of President Trump. The media payouts were also of interest.
Forbes Media bagged “at least $5 million,” according to CNBC and the Washington Times got at least $1 million. The Washingtonian and the Daily Caller both got at least $350,000, and The American Prospect received at least $150,000. While propping up media, the PPP payouts did not neglect the political side. (more…)