By Pete Schroeder
WASHINGTON (Reuters) – Americans will soon get a first full look at which businesses received $515 billion of taxpayer funds when the government, after initial resistance by President Donald Trump’s administration, releases borrower data for one of its highest- profile pandemic aid efforts.
The colossal data set for the Paycheck Protection Program, to be released by the Treasury Department and Small Business Administration in the coming days, will provide transparency for a first-come-first-served program that from the outset was plagued by technology, paperwork and fairness issues.
That could make life uncomfortable for borrowers that broke the spirit or letter of the rules, and for banks that shoveled the money out the door. The aim of the $660 billion program was to help cash-strapped companies keep workers employed and make rent.
“There’s a level of anxiety,” said Suzie Saxman, a partner at Chicago-based law firm Seyfarth Shaw. “I’ve