On Monday, the Trump Administration had issued a statement saying that more than 51.1 million US jobs had been saved due to the monumental reach-and-depth of its pandemic aid program, though questions were raised on how a colossal catalogue of $521.1 billion in US taxpayer’s cash were disbursed across the United States’ small businesses, while a number of critics were quoted saying that the wealthiest with lobbying efforts had been benefitted the most.
In latest vindication of vivid demonstration on which the criticisms were stemmed off, the data stuck with technological twist and compounded paperwork revealed earlier on the day had also underscored that roughly 4,800 businesses that lobby on public policy were approved between $5 million to $10 million.
On top of that, the American for Tax Reform Foundation, whose mission lies on limiting the Government expenses, had been approved for a debt of between $150,000 and $350,000.
Apart from that, the growing list of wealthy firms that ironically had become even wealthier following the program as the forced lockdown measures had limited the businesses’ exposure, included wide-ranging companies which were politically well-connected such as the influential law firm Kasowitz Benson Torres LLP, which represents the President Donald Trump alongside Wiley Rein LLP, APCO Worldwide and a many more.
Questions linger on US Pandemic aid program
Meanwhile, as a curb in pandemic protection pay-checks for the wealthiest firms could have protected hundreds of thousands of small-scale businesses, a rancorous call of clamour of which the program had confidently unheeded, adding that a large vault of taxpayer’s money went into the coffers of those where the Congress had premeditated, the leading Senate Democrat Chuck Schumer said in a statement following reveal of the data, “While it’s a good start...more transparency is still needed to ensure that these taxpayer dollars went where Congress intended.
” According to a summary of the data the Trump Administration had released earlier on the day, roughly 4.9 million loans were issued for small-scale businesses, while the average loan size was roughly amounted to $107,000.