The news is out: [WASHINGTON (AP) — As much as $273 million in federal coronavirus aid was awarded to more than 100 companies that are owned or operated by major donors to President Donald Trump’s election efforts, according to an Associated Press analysis of federal data.
Many were among the first to be approved for a loan in early April, when the administration was struggling to launch the lending program. And only eight businesses had to wait until early May before securing the aid, according to the AP’s review of data released Monday.
The Trump-connected companies obtained the aid through the Paycheck Protection Program, which extends a lifeline to small businesses struggling to navigate the pandemic. Fast-food chains like Muy Brands, oil and gas companies and white-collar firms were all granted a slice of more than $659 billion in low-interest business loans that will be forgiven if the money is used on payroll, rent and similar expenses.
All told, the Trump supporters who run these companies have contributed at least $11.1 million since May 2015 to Trump’s campaign committees, the Republican National Committee and America First Action, a super PAC that has been endorsed by Trump, the AP review found. Each donor gave at least $20,000.]
My past posts also warned that the money from PPP would be a money laundering scheme. I was right again.