Trump Erased Millions of Possible PPP Fraud Flags in Last Days in Office

An explosive new investigation of data from the Paycheck Protection Program (PPP) finds that, in Donald Trump’s final days in office, his administration rushed to eliminate oversight for loans which were flagged for potential fraud or further investigation — and wiped flags from nearly every one of the largest PPP loans. As the Project on Government Oversight (POGO) revealed in a report published Wednesday, over the course of several weeks before President Joe Biden was inaugurated, the Trump administration went on a spree of eliminating flags on PPP loans, the majority of which went directly to personally enriching the richest…

2 Red States Are Taxing Student Debt Relief — But Didn’t Tax PPP Forgiveness

Officials in two states with Republican-dominated legislatures announced this week that they’re planning to tax relief that borrowers get from President Joe Biden’s student debt cancellation plan — even though the same states didn’t tax the billions of dollars of loan forgiveness given to corporations and business owners under the Paycheck Protection Program (PPP). North Carolina and Missisippi’s Departments of Revenue say they’ll consider debt forgiveness taxable income, potentially saddling borrowers with hundreds of dollars of more tax liability, cutting into the sharp relief that the program is set to provide. North Carolina officials say that the taxes will come…

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