News

REPORT: Weapons Manufacturers Secured $164M In PPP Funds Despite Booming Gun and Ammo Sales

READ THE REPORT  WASHINGTON, D.C. — A new analysis from government watchdog Accountable.US found that weapons manufacturers secured up to $164 million in Paycheck Protection Program (PPP) funds despite a spike in gun sales during the pandemic. These gun companies received taxpayer-funded relief meant for struggling small businesses following an aggressive lobbying effort from the industry on the CARES Act. Nineteen […]

New House Report Exposes An Inequitable PPP

Last week, a new report from the House Select Subcommittee on the Coronavirus Crisis showed that the rushed launch of the Paycheck Protection Program (PPP) resulted in businesses in communities of color being shut out at the benefit of wealthy corporations.   Meanwhile, as tens of thousands of small businesses across the country suffer without […]

New House Report Slams Paycheck Protection Program As Inequitable

WASHINGTON, D.C. — This afternoon, the House Select Subcommittee on the Coronavirus Crisis released a new report revealing that the rushed launch of the Paycheck Protection Program (PPP) resulted in minority-owned businesses being shut out at the benefit of wealthy corporations. Prior to the program’s launch in April, banks raised concerns about the incomplete rules and application process that would ultimately favor existing customers and hurt businesses in communities […]

Loan Forgiveness Begins With More Questions Than Answers

Last week, as tens of thousands of small businesses across the country closed their doors for good, new reporting revealed that energy companies, shell companies, and even a TikTok rival received taxpayer-funded bailout money.   Meanwhile, as Paycheck Protection Program (PPP) fraud cases continue to pop up across the nation, the Small Business Administration (SBA) […]

Watchdog Calls on SBA for Sunlight in PPP Loan Forgiveness

WASHINGTON, D.C. – Following reports this week that the Small Business Administration (SBA) has, after months of uncertainty, started forgiving loans distributed through Trump’s poorly designed, poorly implemented Paycheck Protection Program (PPP), government watchdog Accountable.US sent a letter to SBA Administrator Jovita Carranza today calling on the agency to increase transparency in the loan forgiveness process. Read more.

Big Oil Hands Out Bonuses After Trump Admin Bailouts

HELENA, MT – Following new reporting by the Washington Post, Accountable.US exposed over $100 million in bailouts awarded by the Trump administration to oil, gas, and mining corporations which then offered stock options and bonuses to their top executives. The story, based in part on Accountable.US research, highlighted how fossil fuel and extractive resource corporations exploited the Trump […]

Where is PPP Loan Forgiveness?

Last week, Paycheck Protection Program (PPP) fraud cases continued to come to light while small businesses across all industries faced permanent closures with no new relief bill in sight. Meanwhile, after businesses expressed complaints regarding the Small Business Administration’s lack of guidance regarding loan forgiveness, “the government expects to approve and pay forgiveness requests by […]

REPORT: Trump Administration Awarded Shell Companies Millions in PPP Funds Meant for Struggling Mom‑and‑Pops

READ THE REPORT WASHINGTON, D.C. – A new analysis from government watchdog Accountable.US found that that at least $3.4 million in SBA Paycheck Protection Program (PPP) funds went to corporations that are shell companies, or that were about to be acquired by one. While PPP was billed as a lifeline for struggling mom-and-pop businesses, the Trump administration allowed […]

PPP Loans Went to Corporations with History of Egregious Environmental Violations

WASHINGTON, D.C. – New information released today by government watchdog Accountable.US, and reported in HuffPost, finds the Trump administration gave at least $6.7 million in Paycheck Protection Program (PPP) loans to three companies that have paid more than $50 million in penalties for major environmental violations. Read more.

Trump’s PPP Left Native American Women Behind

WASHINGTON, D.C. – Today, in acknowledgment of Native American Women’s Equal Pay Day, Accountable.US released new research showing that Trump’s flawed Paycheck Protection Program (PPP) overwhelmingly left American Indian and Alaska Native women behind. Of the 86,106 PPP loans for which the administration released both gender and race and ethnicity data, just 114 businesses owned by American Indian […]

Will Trump’s Senate Allies Finally Join the House in Delivering Overdue COVID-19 Relief? The Recession and Pandemic Are Only Getting Worse

Another 837,000 Americans filed for unemployment last week, bringing the total number of workers drawing unemployment benefits to nearly 12 million amid a health crisis that has now claimed the lives of nearly 204,000 in the U.S. As the deadly and costly repercussions of the pandemic and Trump recession grow worse by the day, all eyes are on President […]

Kudlow Calls Trump’s Failed PPP a “Stroke of Genius”

Watchdog Report Shows Just How Badly the Program Failed to Help Businesses in Need of Relief WASHINGTON, D.C. – In an interview on CNBC this morning, National Economic Council Director and top White House Economic Advisor Larry Kudlow called Trump’s Paycheck Protection Program a “stroke of genius” for small businesses. In practice, the program overwhelmingly favored wealthy and well-connected companies, largely […]

Millions in PPP Floods Wall Street, Not Main Street

Last week, more Paycheck Protection Program (PPP) recipients were revealed, including Canadian mining corporations and publicly traded companies who used their PPP money on stock buybacks and dividends to their shareholders. Meanwhile, PPP fraud cases continue to come to light across the country while small businesses continue to face permanent closures with no new relief bill […]

REPORT: Publicly Traded Companies Used PPP Money to Enrich Their Shareholders

WASHINGTON, D.C. – A new analysis from government watchdog Accountable.US and previewed by the Washington Post looked back at publicly traded companies that took SBA Paycheck Protection Program (PPP) loans — and found that at least five companies spent or had planned to spend roughly $5.9 million on dividends or stock buybacks after receiving their PPP money. Accountable.US called the findings — which followed a review of earnings calls and reports for publicly traded PPP recipients […]

CARES Act 6 Months Later: Watchdog Report Spotlights Worst Failures of Trump Administration’s PPP Program That Marginalized Communities of Color, Prioritized the Wealthy

READ THE REPORT WASHINGTON, D.C. – Government watchdog Accountable.US released its in-depth report on the failures of the Trump administration’s Paycheck Protection Program (PPP) ahead of the six-month anniversary program’s establishment in the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act.    As Congress continues to negotiate over the next coronavirus relief package, Accountable.US delivered […]

Canadian Mining Corporations Land Millions in U.S. Taxpayer Bailout Monies

Helena, MT – It’s no secret that extractive resource and mining corporations have President Trump and his cronies in the palms of their hands. The Trump administration has long prioritized lining the pockets of wealthy CEOs and extractive resource corporations over the health and safety of communities. According to new research released by government watchdog Accountable.US, Trump is sticking to his guns and awarding over $12 million in U.S. taxpayer money meant for small businesses to nine major Canadian mining corporations through the Paycheck Protection Program (PPP). “Once […]

New PPP Fraud Map, Giuliani Grabs A Bailout

Last week, more Paycheck Protection Program (PPP) recipients were revealed, including the former executive of SAExploration who was recently arrested on charges of wire and securities fraud. Recipients also included nearly 40 law enforcement organizations and an invisible company owned by President Trump’s personal attorney, Rudy Giuliani. Meanwhile, PPP fraud cases continue to come to […]

New GAO Report: Trouble Ahead for PPP Recipients

WASHINGTON, D.C. – A new report released by the Government Accountability Office (GAO) today predicted trouble ahead for recipients of Trump’s poorly designed, poorly implemented Paycheck Protection Program (PPP). According to the GAO report, a lack of regulations and guidance from the Trump administration is likely to hinder those businesses lucky enough to actually obtain funds through the […]

Former CEO Of Big Oil Corporation Awarded Millions In Bailout Monies Arrested

SAExploration Received a $6.8 Million Taxpayer-Backed PPP Loan From Trump Administration Despite Being Under Investigation  WASHINGTON, D.C. – News broke earlier this week in Alaska that the former executive of multi-national oil corporation SAExploration was arrested and charged with wire and securities fraud by the Federal Bureau of Investigation after a multi-year investigation. Astonishingly, despite being the […]

REPORT: Communities of Color in Los Angeles Shortchanged by Trump Admin’s Paycheck Protection Program

READ THE REPORT WASHINGTON, D.C. – A new analysis from government watchdog Accountable.US found significant racial disparities in the awarding of loans in the Los Angeles, California area under the Trump Small Business Administration’s Paycheck Protection Program (PPP). The CARES Act program was billed as a lifeline for struggling small businesses during the COVID-19 crisis, but due to […]