Jun 27, 2020 - Politics & Policy

Trump administration to share PPP loan data with Congress

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

Go deeper