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As the U.S. economy stared into the pandemic abyss in March 2020, Congress passed a $2.2 trillion stimulus package that included the Paycheck Protection Program to quickly get forgivable loans to small businesses to keep workers on payrolls.

Axios Re:Cap digs into the formation and roll out of the PPP, from multi-day negotiations and late-night phone calls to estimates of how many businesses the program helped, with former Treasury Secretary Steven Mnuchin. Plus, a conversation about pandemic survival with Dayna Frank, CEO of legendary Minneapolis music club First Avenue. 

Steven Mnuchin on the PPP's creation, controveries and legacy

Former Treasury Sec. Steven Mnuchin on the Paycheck Protection Program's creation, controversies and legacy.

Economic stimulus

Axios Re:Cap

<p>As the U.S. economy stared into the pandemic abyss in March 2020, Congress passed a $2.2 trillion stimulus package that included the Paycheck Protection Program to quickly get forgivable loans to small businesses to keep workers on payrolls.</p><p><strong>Axios Re:Cap</strong> <strong>digs into</strong> the formation and roll out of the PPP, from multi-day negotiations and late-night phone calls to estimates of how many businesses the program helped, with former Treasury Secretary Steven Mnuchin. Plus, a conversation about pandemic survival with Dayna Frank, CEO of legendary Minneapolis music club First Avenue. </p><div><div><iframe frameborder="no" height="200" scrolling="no" src="https://playlist.megaphone.fm?e=AXIOS1850024486" width="100%"></iframe></div><div style="display:none"></div></div><span data-ad-status="NO_AD_LENGTH" data-ad-type="midStoryAd"></span>

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After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

President Biden has made the COVID-19 crisis and a post-Trump return to national unity and traditional democratic ideals his top priorities. From vaccinations to stimulus to schools, Biden is seeking bipartisan compromise while showing a willingness to use executive authority and bare Democratic majorities in the U.S. House and Senate to implement his policies. Republican leaders are navigating deep party divisions over if and how to move beyond former President Trump.

Steven Mnuchin on the PPP's creation, controveries and legacy

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