Coronavirus Relief: Treasury Department Says Publicly Traded Companies Must Return SBA Loans | National Review

The change comes after the initial $349 billion in emergency funding for small businesses ran out last week, with critics pointing to a loophole that allowed large companies to receive loans by applying through multiple subsidiaries with under 500 employees. A Wall Street Journal analysis found that 24 of the publicly traded companies that took loans employed more than 500 people, while a third earned over $100 million in annual revenue in their last fiscal year.

Several public companies, including burger chain Shake Shack, which received $10 million, and Ruth’s Chris Steak House, which received $20 million, have already said they will return the loans.

Washington journalists obviously think of themselves as a united front, working as one to oppose President Trump, his ideas, his policies, his employees, his associates, and especially his reelection campaign. They’re happy to promote one another, their supposed competitors, in the interest of their shared …
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Washington journalists obviously think of themselves as a united front, working as one to oppose President Trump, his ideas, his policies, his employees, his associates, and especially his reelection campaign. They’re happy to promote one another, their supposed competitors, in the interest of their shared …
Read More

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