Members of Congress Revealed to have Benefited from Federal Small Business Loan Program

  • At least four members of congress are confirmed to have received loans from the SBA’s paycheck protection program.
  • It is unknown how many more members of congress could have also gotten loans.
  • Some lawmakers who benefited also opposed legislation requiring lending transparency for the program.

When congress approved half a trillion dollars for small business loans earlier this year, there was a scramble to apply. The program quickly ran out of funds, however, with countless small businesses across the country being shut out.

Despite the difficulty involved in securing a loan, at least four members of congress successfully received loans from the highly sought after program. The total number of members of congress who benefited is not yet known because the identities of loan recipients have not been publicly released by the Treasury department, which oversees the program.

A bipartisan group of four members of congress has acknowledged that they, or people close to them, secured loans from the Small Business Administration’s Paycheck Protection Program.

Below is a list of congresspeople:

  • Rep. Roger Williams (R) of Texas
  • Rep. Vicky Hartzler (R) of Missouri
  • Rep. Susie Lee (D) of Nevada
  • Rep. Debbie Mucarsel Powell (D) of Florida

The loan amounts to each congress person are not known.

During debate on the law which earmarked the half a trillion dollars for the program, Reps. Williams and Hartzler voted against a bill which would have required increased public disclosure on loans of over $2 million dollars. Both Democrats and Republicans have made calls for increased transparency, but Treasury Secretary Steve Mnuchin has so far refused to publicly disclose any loan recipients.

Categories: Business, Government

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