Trillions in Stimulus Go Unchecked With Watchdogs Kept Toothless
Congress
Trillions in Stimulus Go Unchecked With Watchdogs Kept Toothless

The U.S. has spent more than half of $3 trillion in economic rescue funds passed by Congress — with little of the oversight intended to ensure the money goes to the right places. Three new oversight bodies are barely functional:... Read More

Surging Unemployment In Travel Sector Likely to Make for Memorial Day Like No Other
Economy
Surging Unemployment In Travel Sector Likely to Make for Memorial Day Like No Other
2020-05-20 17:18:38
by Dan McCue

WASHINGTON - Unemployment among the nation's travel sector workers has reached 51% heading into the Memorial Day weekend, as Americans continue to refrain from resuming their normal lives in the face of the slowly easing coronavirus pandemic, according to data... Read More

Experts Warn Injecting Money Into Higher Ed Without Oversight Could Lead to Profiteering
In The News
Experts Warn Injecting Money Into Higher Ed Without Oversight Could Lead to Profiteering
2020-05-20 17:12:46
by Gaspard Le Dem

WASHINGTON -- Experts say that injecting federal money into America’s higher education system amid the coronavirus crisis could unintentionally lead to more profiteering in the industry. The pandemic has taken a significant toll on U.S. colleges and universities, shutting down... Read More

Little of the $500 Billion in Relief Fund for Businesses Has Been Spent
Economy
Little of the $500 Billion in Relief Fund for Businesses Has Been Spent

WASHINGTON — The Treasury Department has disbursed less than 8% — just $37.5 billion of $500 billion — of the emergency funds that Congress approved two months ago for loans and loan guarantees to help stabilize the economy, according to... Read More

Bipartisan, Bicameral Legislation Promises New Aid to State, Local Governments
Congress
Bipartisan, Bicameral Legislation Promises New Aid to State, Local Governments
2020-05-19 14:03:45
by Dan McCue

WASHINGTON - A bipartisan, bicameral effort is underway to provide hundreds of billions in funding to state and local governments reeling from the budgetary hit they've taken due to the coronavirus outbreak. The House bill introduced Monday by Reps. Josh... Read More

House Democrats Roll Out $3 Trillion Coronavirus Relief Package
Congress
House Democrats Roll Out $3 Trillion Coronavirus Relief Package
2020-05-12 19:06:56
by Dan McCue

WASHINGTON - House Democrats rolled out their latest package of legislation intended to provide economic relief during the coronavirus pandemic while focusing on areas that were either missed or in need of revision in other aid packages. In a briefing... Read More

Federal Courts Seek More Money and Judges in Next COVID-19 Bill
Economy
Federal Courts Seek More Money and Judges in Next COVID-19 Bill

WASHINGTON — The federal courts asked Congress for an additional $36.6 million and more judge positions in the wake of the COVID-19 outbreak, for safety and to handle the backlog of cases that will be delayed until after it is... Read More

Federal Reserve Expands Scope of Main Street Lending Program
Economy
Federal Reserve Expands Scope of Main Street Lending Program
2020-05-01 14:24:57
by Dan McCue

WASHINGTON - The Federal Reserve said Thursday it is expanding the scope and eligibility for the Main Street Lending Program, a vehicle created to help credit flow to small and medium-sized businesses that were in sound financial shape before the... Read More

Justice Department Sees Early Fraud Signs in SBA Loan Flurry
Criminal Justice
Justice Department Sees Early Fraud Signs in SBA Loan Flurry

The Justice Department has begun a preliminary inquiry into how taxpayer money was lent out under the Paycheck Protection Program and has already found possible fraud among businesses seeking relief, a top official said. Assistant Attorney General Brian Benczkowski, who... Read More

McConnell ‘Open’ to Coronavirus Bailouts for Hard-Hit States After Democratic Outrage
In The News
McConnell ‘Open’ to Coronavirus Bailouts for Hard-Hit States After Democratic Outrage

Mitch McConnell couldn’t stand the heat. The Republican Senate leader on Wednesday backed off his controversial claim that coronavirus-ravaged states should go bankrupt and said he’s “open” to bailing them out, apparently caving to blistering criticism from New York Gov.... Read More

Federal Reserve Extends Lending to Smaller US Cities and Counties
Economy
Federal Reserve Extends Lending to Smaller US Cities and Counties
2020-04-28 20:22:16
by Dan McCue

WASHINGTON - The Federal Reserve is expanding the eligibility criteria for a lending program intended to support the municipal bond market to allow small U.S. cities and municipalities to access needed funds from the central bank. The loosening of lending... Read More

Congress Passes Expanded Small-Business Loan Funding to Address Coronavirus Shutdowns
Economy
Congress Passes Expanded Small-Business Loan Funding to Address Coronavirus Shutdowns

WASHINGTON — With unemployment claims topping 26 million in the last five weeks because of the coronavirus pandemic, the House voted Thursday to approve another half-trillion dollars in federal relief to replenish a depleted small-business loan program and provide money... Read More

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