U.S. Paycheck Protection Program Disproportionate
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paycheck protection programQuartz
•US Politics
US Politics
Most of the US’ $800 billion in paycheck protection funds went to the richest 20%
83% Informative
A new paper published by the National Bureau of Economic Research called the result “highly regressive” The program offered low-interest loans of up to $10 million to companies with fewer than 500 employees during the covid-19 pandemic.
But the first $510 billion in loans failed to distinguish recipients according to need.