Who Lined Their Pockets with the Stimulus Money?
Posted On May 26, 2020
This article contains commentary which reflects the author's opinion
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Planned Parenthood Almost Made a Clean Getaway
The Trump administration announced there would be a Paycheck Protection Program . This was designed for qualified businesses to aid in their recovery during the Coronavirus pandemic. The Small Business Administration (SBA) administered the loans, which made many small business owners sigh with tentative relief. They are hoping to keep their businesses afloat, and keep employees on the payroll. There was disappointment following when those applying for loans were turned down for lack of sufficient funding. This left many wondering what had happened and why they were left out in the cold.
Sadly, the eligible recipients failed to receive their due because ineligible organizations applied, and were amply funded under false pretenses. According to Fox News, Planned Parenthood (PP) applied for and received $80 Million dollars in loans. Organizations such as Planned Parenthood are not eligible because of the size of their organization. Affiliates of organizations with over 500 employees do not qualify for the assistance. Despite this, thirty-seven Planned Parenthood affiliates applied for and received the loans through the program.
“The Paycheck Protection Program is designed to protect small businesses, not behemoth organizations with over 16,000 employees”.
National Right to Life President Carol Tobias.
The SBA emphasized that those businesses that received funding but were not eligible would have to return the monies. Moreover, the SBA urged for greater penalties for those who received loans while knowingly making false statements. One should understand that Laura Meyers, PP CEO from the Washington affiliate (PPMW), had sworn to abstain from requesting funding. This happened only after the Trump administration stated they would not receive funding if they did not stop referrals for abortions.
Health and Human Services announced in October that eight Planned Parenthood affiliates would have their funding transferred to other health departments and clinics that would comply with the law. Still, PP continues to enlarge their coffers illegally and on the taxpayer dime. According to the Washington Times, Planned Parenthood has raked in no less than $317 million in taxpayer dollars in the fiscal year ending last June. All while the rate of abortions creeps upward into the hundreds of thousands.
Message Sent to Larger Businesses
Interestingly, organizations who receive stimulus payments through the Cares Act will still receive payments for employees who have been furloughed. This according to taking a look at Inside Charity, a non-profit news organization. One should ask if those who have been furloughed shouldn’t be rehired because of those payments, specifically designated for those employees. For-profit universities will also get to keep funding for students who are no longer attending due to the Coronavirus.
There is a question that must be asked of every member of Congress regarding their approval of the bill that allocates these funds. Why does Federal funding that comes from the taxpayer pocket continually find its way into the pockets of the already well-funded entities (remember the Kennedy Center travesty!)? The tragedy is many businesses will not receive the loans in time to keep their businesses afloat. Evidence of the wiles of the elite, that seem to continually make out like bandits, while the common person suffers.
There are steps to take to fight for survival in these precarious times. CPA Bruce Willey gives financial advice to help small business owners make wise decisions. It is a challenge to stay afloat until the relief finally comes. Stating that “Cash is king”, he advises business owners to improve their liquidity in these trying times. He also advises clients to consider applying for the SBA’s Economic Injury Disaster Loans program. We don’t have to let the elite keep us from swimming to the top!