WASHINGTON (NEXSTAR) — The American Small Business League has filed a lawsuit against the Trump administration, demanding to know the names of all the businesses that received loans through Paycheck Protection Program.
The ASBL’s suit is for the exact amount of money distributed through the program setup to aid small businesses struggling through the COVID-19 pandemic.
“They just had a range, and the ranges are huge,” said Lloyd Chapman, President of the ASBL. “It’s between like five and ten million. So we want to know exactly how our tax dollars are being spent. You’re seeing some very, very big businesses–publicly traded companies on the New York Stock Exchange–and billionaires getting this money.”
Mary Fillinger, the owner of a small fitness studio in Northern California, said she was shocked to see celebrity-owned businesses and large corporations get relief while her business was denied.
“It’s heart-breaking for me as a true small business owner that these massive companies–[ones] that I know, they’re name recognizable–were getting millions,” Fillinger said.
Meantime, a new report from a House subcommittee found more than one billion dollars went to companies that had already received loans — which is a violation of the program’s rules.
The Trump administration has said it will not commit to releasing a full list of names and exact loan amounts because it wants to protect the sensitive information of small businesses.
Treasury Secretary Steve Mnuchin, however, claimed all loans that are $2 million or larger will be audited.