(WASHINGTON, D.C.) - Congressman Jamie Raskin (MD-08) today joined 34 of his colleagues in sending a letter demanding improved transparency and immediate disclosure of data on how taxpayer funds were allocated through the Paycheck Protection Program (PPP). The letter, which was sent to U.S. Department of the Treasury Secretary Steven Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza, also raises concerns that the PPP’s application processes may have failed to adequately assist smaller community businesses and minority-owned businesses during the ongoing coronavirus (COVID-19) pandemic.
The Members wrote: “The Paycheck Protection Program…has provided a vital lifeline to millions of small business across the country during the COVID-19 pandemic, but many more, especially minority-owned small businesses, have been left behind. We are also greatly concerned that the SBA has not followed the intentions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to prioritize assistance to small businesses in rural and economically disadvantaged markets and those owned by minorities, women, and veterans.”
As of June 12th, the SBA has reported nearly 56,000 loan approvals totaling $5.025 billion for Iowa small businesses. .
The letter was led by Rep. Jennifer Wexton (VA-10), and also signed by Ami Bera (CA-07), Lisa Blunt Rochester (DE-AL), Sean Casten (IL-06), Emanuel Cleaver, II (MO-05), Jim Cooper (TN-05), Val Demings (FL-10), Mark DeSaulnier (CA-11), Bill Foster (IL-11), Josh Gottheimer (NJ-05), Al Green (TX-09), Alcee L. Hastings (FL-20), Jahana Hayes (CT-05), Denny Heck (WA-10), Jim Himes (CT-04), Daniel T. Kildee (MI-05), Ann McLane Kuster (NH-02), Mike Levin (CA-49), Dave Loebsack (IA-02), Gregory W. Meeks (NY-05), Debbie Mucarsel-Powell (FL-26), Jerrold Nadler (NY-10), Eleanor Holmes Norton (DC-AL), Chris Pappas (NH-01), Chellie Pingree (ME-01), David Price (NC-04), Cindy Axne (IA-03), Kim Schrier, M.D. (WA-08), David Scott (GA-13), José E. Serrano (NY-15), Adam Smith (WA-09), Jackie Speier (CA-14), Juan Vargas (CA-51), and Peter Welch (VT-AL).