Jun 27, 2020 - Politics & Policy

Trump administration to share PPP loan data with Congress

Rashaan Ayesh

President Trump walking towards the Rose Garden followed by Treasury Secretary Steven Mnuchin — 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

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Trump administration to share PPP loan data with Congress

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