Tuesday, December 29, 2020

These companies took $1.8 billion in federal aid to save jobs. They laid off 90,000 workers anyway. – Center for Public Integrity

...In June, facing pressure from business groups, Congress amended the CARES Act to allow some companies to keep PPP loan money even if they laid off workers. The SBA will forgive loans to such companies as long as the workers are rehired by Dec. 31. Businesses can also have their loans forgiven after cutting jobs if they can prove business activity hasn't returned to pre-pandemic levels because they followed federal COVID-19 safety guidelines...

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