President Trump. Photo: Win McNamee/Getty Images
The Trump administration agreed to share data on the Paycheck Protection Program, a nearly $700 billion coronavirus aid program, with Congress but not the American public, AP reports.
Why it matters: As Democratic lawmakers have argued for transparency, ethics watchdogs say access to the detailed data on the taxpayer-funded loans will allow them to see who has received help and who hasn't, per AP.
The state of play: Senior administration officials will be providing information on nearly 4.7 million loans worth $515 billion, per AP. The Small Business Administration has only shared general information so far, such as where the businesses are located or the industry they fall into.
- The administration has maintained that because PPP loans are calculated based on payroll data, employers may see that information as competitively sensitive or proprietary, AP notes.
- The Treasury Department and SBA announced plans last week to release the names of some businesses that received $150,000 or more in PPP loans. Data on loans under $150,000 will only be shared with Congress.
Yes, but: Officials warned lawmakers not to provide any of the "confidential" loan information to the public.
Go deeper: Paycheck Protection Program borrowers get more flexibility