The Treasury secretary’s refusal has created a new flashpoint in Congress’ oversight of the Trump administration’s use of coronavirus bailout funds.
Treasury Secretary Steven Mnuchin is facing criticism from lawmakers and watchdog groups after refusing to disclose the businesses that received more than $500 billion in government-backed emergency loans.
Mnuchin ignited controversy on Wednesday when he said the Trump administration will not reveal the names of companies and nonprofits that got the so-called Paycheck Protection Program loans, which are guaranteed by the taxpayer and can be forgiven in full if borrowers maintain their payrolls.
Mnuchin said the names and specific loan amounts were “proprietary” and “confidential,” but that came as a shock after officials had indicated earlier that the information would be subject to public scrutiny. The Small Business Administration warns borrowers in the program’s loan application that their names and loan values will be released under Freedom of Information Act requests. POLITICO has sought the information under FOIA, and several other news outlets are suing the government to obtain it.
Republicans and Democrats have pressed the administration to disclose loan recipients in recent weeks, and Mnuchin’s refusal has created a new flashpoint in Congress’ oversight of the Trump administration’s use of coronavirus bailout funds. It’s fueling concerns that have dogged the program since its April 3 launch that too much of the aid is going to well-financed businesses that don’t need it.
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<p lang=”en” dir=”ltr”>Treasury Secretary Steven Mnuchin is facing criticism from lawmakers and watchdog groups after refusing to disclose the businesses that received more than $500 billion in government-backed emergency loans https://t.co/82mVPTv7LI</p>— POLITICO (@politico) June 13, 2020
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