Soros-backed groups rake in tens of millions of taxpayer-backed COVID-19 loans

When it was first presented to the American people, the Paycheck Protection Program was billed as a way for small businesses to keep paying their employees during the COVID-19 shutdowns. 

The reality is far different, according to a new report from the Washington Free Beacon

Rather than helping mom-and-pop small businesses on main street, the federal government used taxpayer funds to float loans to some of the most radical leftist groups in the country. 

At least 18 left-wing groups supported by the billionaire George Soros’s liberal donor club applied for federal loans meant to help small businesses during the coronavirus pandemic, receiving up to $20 million in taxpayer cash between them.

Groups backed by the Democracy Alliance, a donor network cofounded by Soros, hauled in cash from the Paycheck Protection Program, a federal program established to provide an economic boost to small businesses and their workers during coronavirus shutdowns. Together, the groups received between $8.5 million and $20.7 million. In addition to the Democracy Alliance groups, another liberal donor network that pays the club for project services pulled in large sums from the small business relief program.

“The political groups that form the infrastructure of the far left rely on contributions from the country’s richest millionaires and billionaires,” one GOP operative said. “Now, those same groups are leaning on PPP loans while slamming the program as a handout to the rich. This shameless hypocrisy exemplifies how hollow and disingenuous their rhetoric is.”

Other left-wing groups under Democracy Alliance’s umbrella that were awarded large PPP loans include: Catalist (between $350,000 and $1 million in loans), Faith in Action Network ($350,000 to $1 million), State Voices ($350,000 to $1 million), the Advancement Project ($1 to $2 million), American Constitution Society ($350,000 to $1 million), Economic Policy Institute ($350,000 to $1 million), National Employment Law Project ($350,000 to $1 million), the Roosevelt Institute ($350,000 to $1 million), State Innovation Exchange ($350,000 to $1 million), Faith in Public Life ($150,000 to $350,000), ProgressNow ($150,000 to $350,000), and the Movement Cooperative ($350,000 to $1 million).

Whether you’re on the left or the right, a quick look at any of these groups shows that they don’t represent the views of a majority of Americans. And even if they did, the PPP was supposed to keep small businesses running — not radical political groups working to undermine our country’s founding principles. 

If we want to stop this kind of waste and abuse from occurring in the future, we must work to limit the overall power, jurisdiction, and spending of the federal government. The only way to do that? An Article V Convention of States.

A Convention of States has the power to propose constitutional amendments that 1) limit Washington’s power, 2) impose fiscal restraints on Congress, and 3) mandate term limits for federal officials.

The first two categories of amendments would go a long way towards limiting the wasteful spending we’ve seen in the PPP. If Congress was forced to balance the budget without raising taxes, for example, they’d be much more careful about where they send taxpayer money — even during a national crisis. 

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