Data: Treasury Department via the Peter G. Peterson Foundation; Chart: Axios Visuals

The PPP initially made headlines for leaving out many small businesses who were muscled out by large corporations and savvier peers with long banking histories, but now even those who secured the funding say the program needs to be overhauled.

Driving the news: "It’s difficult to successfully use the Paycheck Protection Program loan," Jackie Victor, founder and owner of Detroit's Avalon Breads, writes in an op-ed for the New York Times.

  • She points out that requirements for the money to be spent within 60 days, that the business retains all its employees and that it uses 75% of the money for payroll makes practical use of the loan almost impossible.
  • Other business owners point out that for companies with workers who make less than they would through the government's expanded unemployment benefits, putting them back on payroll when they are not allowed to work is cruel and will actually hurt the relationship between employer and employee.

Details: The CARES Act increased eligibility for unemployment benefits, provided an additional $600 per week and extended insurance payments beyond the typical 26 weeks.

  • Since the enactment of those provisions in late March, federal spending on unemployment insurance has risen noticeably, the Peterson Foundation notes in a recent blog.

Go deeper: Unemployment is likely already at Great Depression-era highs

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Updated Aug 9, 2020 - Politics & Policy

Republicans and Democrats react to Trump's coronavirus aid action

President Trump speaks to workers at a manufacturing facility in Clyde, Ohio, on Thursday. Photo: Scott Olson/Getty Images

Some Republicans joined Democrats in criticizing President Trump Saturday night for taking executive action on coronavirus aid, with Democratic leaders demanding the GOP return to negotiations after stimulus package talks broke down a day earlier.

Why it matters: Trump could face legal challenges on his ability to act without congressional approval, where the constitutional power lies on federal spending. Sen. Ben Sasse (R-Neb.) was the most vocal Republican critic, saying in a statement: "The pen-and-phone theory of executive lawmaking is unconstitutional slop."

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Meadows confirms Trump's tweets "declassifying" Russia documents were false

Photo: Tom Williams-Pool/Getty Images

White House Chief of Staff Mark Meadows confirmed in court on Tuesday that President Trump's tweets authorizing the disclosure of documents related to the Russia investigation and Hillary Clinton's emails "were not self-executing declassification orders," after a federal judge demanded that Trump be asked about his intentions.

Why it matters: BuzzFeed News reporter Jason Leopold cited the tweets in an emergency motion seeking to gain access to special counsel Robert Mueller's unredacted report as part of a Freedom of Information Act request. This is the first time Trump himself has indicated, according to Meadows, that his tweets are not official directives.