Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

White House economic adviser Larry Kudlow told CNN's "State of the Union" Sunday that the Trump administration never promised to release the names of businesses that received forgivable Paycheck Protection Program loans as a part of the CARES Act.

Why it matters: U.S. taxpayers have provided hundreds of millions of tax dollars to bail out small businesses impacted by economic disruption set off by the coronavirus pandemic, but they may never know where exactly the money went ⁠and how well the program worked, Axios' Dan Primack reports.

Between the lines: Historically, business recipients of the Small Business Administration's Section 7(a) loans, which PPP was structured under, have had their names and loan amounts publicly disclosed on an annual basis.

  • The PPP loan application also warns borrowers that their company names, loan amounts, and other information are public records “that will be automatically released," according to TIME. And in April, the SBA told news organizations that it intended to post "individual loan data" after the loan process had been completed.
  • But Treasury Secretary Steve Mnuchin told a Senate hearing last week that he's concerned the data would include "proprietary information," and the SBA has dropped its pledges of “loan specific” transparency.

The big picture: As part of calls for oversight of the bailout funds, Mnuchin said in April that the Small Business Administration will do a "full review" of any loan that exceeds $2 million after it became known that large corporations and organizations had received PPP loans.

  • In April, the House of Representatives created a select committee to oversee the how the Trump administration used trillions of dollars in coronavirus relief allocated by Congress.
  • The Council of the Inspectors General also established a Pandemic Response Accountability Committee to oversee the rollout of the $2 trillion CARES Act, but President Trump removed the original inspector general that the committee chose as its leader.

What they're saying: "In terms of those [companies] that shouldn't have qualified, a lot of them have returned the money," Kudlow said. "But I think when Treasury Secretary Mnuchin talk about transparency, he talked about the transparency of the process of making the evaluation for the loan and then the distribution."

  • "As far as naming each and every company, I don't think that promise was ever made, and I don't think it's necessary. I think what is necessary is to make sure that the legalities were observed, that the process of credit and leading was observed and that people that can qualify will in fact get it."

Go deeper: Treasury leans against naming small businesses that received PPP loans

Go deeper

Updated Sep 3, 2020 - Politics & Policy

House Oversight Committee subpoenas Postmaster General Louis DeJoy

Postmaster General Louis DeJoy testifies during a House Oversight and Reform Committee hearing on Aug. 24. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images/Pool

The House Oversight Committee subpoenaed Postmaster General Louis DeJoy on Wednesday for records related to recent operational changes at the U.S. Postal Service and information about mail delivery delays, AP reports.

Why it matters: Democratic lawmakers have sounded the alarm in recent weeks over cost-cutting measures and modifications to mail-processing practices that they fear could delay election mail, disenfranchise voters and delay election results.

Updated 5 hours ago - Technology

From Malcolm X to "Free Britney," new media shapes the justice system

Illustration: Shoshana Gordon/Axios

True crime documentaries, podcasts and social media campaigns are bringing new attention to real-world legal proceedings — and are often affecting the outcome.

Why it matters: New media platforms can instantly put a national spotlight on cases that have long been forgotten or buried under red tape.

Updated 8 hours ago - Health

The next big bottleneck in the global vaccination effort

Illustration: Rae Cook/Axios

The world still needs more coronavirus vaccines, but an additional bottleneck has emerged in many low-income countries: They need help getting shots in arms.

Why it matters: Increasing vaccination rates across the world is both a humanitarian necessity and the best way to prevent dangerous new variants from emerging, but it increasingly requires complex problem-solving.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!