Mitchell Hartmann, Congress, Sarah Crozier discussed on Morning Edition
We don't know the exact amount it's categorized as between 2 to $5 million. Expensive private schools were on the list law firms, including what then represented President Trump and the reason we're learning about this now, sir breeze that the Treasury Department under pressure released data for who got the biggest loans? Yeah, I remember. A few weeks ago, We were talking about some big restaurant chains taking people's phones. I mean, are these revelations particularly surprising? Well, they're confirming some of the criticisms about the PPP program that money was flowing to bigger businesses than perhaps Congress intended. The issue is that the program was supposed to be for firms that didn't have other options for quickly raising cash to continue paying employees and staying in business. And we spoke with Sarah Crozier about this of the Main Street alliance, which is an advocacy group for small business to see that the most well banked businesses you know our best represented in getting that money and ultimately, maybe didn't need it as much as other businesses, particularly in the service industries. I can see where that outrage has been justified. And closures Group now wants Congress to target age, for example, geographically, perhaps to small businesses in infection hot spots where the aide maybe most needed All right, Nova. Thank you. At the end of this month, millions of unemployed Americans will get their last $600 a week. Federal pandemic unemployment check. That is unless Congress acts to extend the program. Marketplaces. Mitchell Hartmann has more Jody Soul L is 64 works for a solar energy installer in Maryland. He was furloughed in March and recently got called back for a very partial reopening. One Wake. I had 2.5 hours another week, two hours. He is still getting $880 a week on unemployment that includes 600 in federal pandemic benefits. What will his family do if that runs out at the end of July? I haven't even thought about that. That's why they make credit Cone. Financial advisory firm. The ascent has surveyed unemployed workers and research analyst Dan Albright says almost 2/3 and go less than three months. Without the extra $600 they would borrow more money and take more drastic cuts in their expenses. A recent survey by the Urban Institute finds more than four in 10 American households have suffered job or income lost during the pandemic. I'm Mitchell Hartmann for marketplace. Let's take a look at the numbers this morning, The Dow Jones industrial average is down 221 points. That is 8/10 of a percent. The S and P 500 is down 3/10 of a percent. The NASDAQ is up 3/10 of a percent..