More people could be out of work soon because of misleading reports about America’s most successful economic relief program.
The Paycheck Protection Program was passed by Congress to provide businesses relief from the government’s economic shutdown. Over the past few months, the Treasury Department dispersed forgivable loans to 4.9 million businesses across America. The program ended up supporting businesses that collectively employ more than 51 million people during a time when most businesses faced deep declines in their cash flow. Without PPP, more people would be unemployed. But opponents of the program want you to believe that the program primarily benefited the wealthy. This is wrong, and their reporting can be harmful in an economic recovery.
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