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The Trump administration plans to pull the plug on five loan programs that supported the economy during the coronavirus crisis — prompting a rare objection from the Federal Reserve.
Treasury
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It been more than four months since Uncle Sam doled out $1,200 stimulus checks to help Americans cope with the crippling effects of COVID-19 on the US economy. With cases continuing to surge across the country and millions of Americans still out of work, lawmakers are in discussions for a second round of checks. But …
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Many American taxpayers could get a second stimulus check this month if Congress approves them soon, a report says. The Internal Revenue Service could send out most of the proposed $1,200 payments by the end of August if lawmakers reach a deal to send them out this week, IRS staffer Chad Hooper told CNBC in …
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A Texas-based hotel empire begrudgingly pledged to return coronavirus aid for small businesses after the feds threatened to go after big companies that kept the money. The Ashford Group of Companies slammed the Trump administration for shifting the rules of its $659 billion Paycheck Protection Program — as it announced plans to repay the loans …
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The US Justice Department reportedly has launched a probe of the federal government’s $670 billion Paycheck Protection Program. The investigation has already turned up instances of potential fraud, according to Politico, and arrives as large publicly traded companies have received harsh scrutiny for dipping into the federal pot. Last week, after it surfaced that companies …
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The feds plan to audit all large coronavirus relief loans amid an outcry over big companies getting help at the expense of struggling small businesses. The US Small Business Administration will review all Paycheck Protection Program loans worth more than $2 million before forgiving the debt, Treasury Secretary Steven Mnuchin said Tuesday. Loans from the …
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Faced with mounting criticism, Ruth’s Chris Steak House — which operates more than 100 restaurants in North America — will return the $20 million coronavirus small business loan it got from the federal Paycheck Protection Program, NBC News reported Thursday. The $350 billion PPP was designed to rescue the millions of small businesses that have …
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Millions of Americans — especially those who use income tax preparers such as H&R Block and TurboTax — are still waiting for their promised stimulus checks, according to a report Thursday. While many did find their $1,200 check deposited into their accounts by the IRS on Wednesday, millions of others were greeted with the words …
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President Trump has been telling voters that the US economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will fail to match the speed and severity of the …
The Trump administration plans to pull the plug on five loan programs that supported the economy during the coronavirus crisis — prompting a rare objection from the Federal Reserve. Treasury
