Clyburn Statement on Partial Disclosure of PPP Loan Recipients
(Washington, DC – July 6, 2020) – Today, Rep. James E. Clyburn, Chairman of the Select Subcommittee on the Coronavirus Crisis, issued the following statement in response to the Treasury and SBA’s disclosure of a portion of PPP loan recipients:
“Ensuring transparency in federal relief programs is one of my top priorities as Chairman of the Select Subcommittee on the Coronavirus Crisis. I’m pleased that in response to the Subcommittee’s request, the Treasury Department and Small Business Administration have finally released some borrower information for SBA’s Paycheck Protection Program. This will create much-needed transparency for the largest borrowers, but it is only a first step. The Administration has disclosed the names of only 14% of PPP borrowers and has announced plans to audit just 0.6% of borrowers. The Select Subcommittee is working to ensure more oversight and more transparency for this critical program.”
On June 15, Chairman Clyburn and all Democratic Members of the Select Subcommittee sent a letter to the Treasury Department and SBA calling for them to release the names of PPP borrowers—as SBA routinely does for similar loan programs.