Our latest investigations into the efforts to save Americans’ livelihoods in an unprecedented crisis.
The Small Biz Double-Dip: Temp Companies Got Cheap Government Money, Got Paid by Clients for the Same Workers
One of the biggest beneficiaries of the Paycheck Protection Program for small businesses were temp agencies. Many have been able to turn the government loans into profits.
The CARES Act was largely successful in keeping millions of American renters from facing eviction during the pandemic. As protections fade, some landlords are gearing up to return to court.
A top official said 99% of funds were paid, but only 55% of small business owners reported receiving the money. Borrowers were told there was a technical glitch, but the Small Business Administration would not answer questions about it.
ProPublica found at least 15 large companies that received over half a billion dollars in PPP loans using the same technique: Getting multiple loans sent to smaller entities they own.
Three companies including Gate Gourmet, a global provider of airline meals, received $338 million in relief money for workers — and laid workers off anyway.
After resisting its release, the administration revealed information on companies that received more than $150,000 in PPP funds.
Oyster, Air Fryer and Bicycle Companies Say Their Goods Are Essential to Fighting Coronavirus So They Can Get Tariff Relief
Trump’s trade agency is taking applications for products that should escape new tariffs. Companies making everything from shoes to hors d’oeuvres are submitting justifications that are … creative.
Wage garnishments ordered before the pandemic started have continued for many workers during the recession. Senators Elizabeth Warren and Sherrod Brown have demanded an end to the practice.
As the COVID-19 pandemic hit, Americans got protection from evictions, foreclosures and student debt. But debt collectors have continued to siphon off their share of paychecks from those who still have jobs.
Deputy Treasury Secretary Justin Muzinich has an increasingly prominent role. He still has ties to his family’s investment firm, which is a major beneficiary of the Treasury’s bailout actions.
The CARES Act temporarily protects millions of renters from being evicted, and many states and cities passed their own rules to help those struggling to pay rent. Use our new database to find out if eviction bans might apply to you.
The Trump Administration Says a New Bailout Program Will Help 35 Million Americans. It Probably Won’t.
Experts from across the political spectrum fear that the Federal Reserve’s new Main Street Lending program won’t reach enough businesses or save enough jobs.
The Small Business Administration, which is administering the lending program, has said it will disclose the names of companies that got loans — just not yet. News organizations are suing to stop the delay.
The economy is in free fall but Wall Street is thriving, and stocks of big private equity firms are soaring dramatically higher. That tells you who investors think is the real beneficiary of the federal government’s massive rescue efforts.
How has your company treated its workers during the crisis? As bailout money in the form of huge loan programs reaches to your company, what are you watching for or worried about?
The IRS has had trouble getting money to people quickly because millions of Americans pay for their tax preparation through a baroque system of middlemen.
ProPublica found landlords in at least four states have violated the ban, which was put in place by the CARES Act but has no clear enforcement mechanism.
Millions of Americans Might Not Get Stimulus Checks. Some Might Be Tricked Into Paying TurboTax to Get Theirs.
Congress gave the IRS the job of sending out coronavirus rescue checks. But the underfunded agency is struggling, while for-profit companies like Intuit have started circling, hoping to convert Americans in need into paying customers.
How the Coronavirus Bailout Repeats 2008’s Mistakes: Huge Corporate Payoffs With Little Accountability
As the government rushes to aid the economy, how that’s done, who benefits and who is left behind matter. So far, the signs are ominous.
Politicians have touted debt relief, but the various proposals are patchwork. Many homeowners and renters won’t get much help; those struggling with credit card, car and other loan payments will get none.