Up to three-quarters of the $800 billion PPP flowed to business owners instead of workers, study finds
The benefits of the landmark small-business relief program designed at the height of the pandemic mostly went to business owners rather than workers, a study from leading economists finds.
The far-reaching PPP ended up sending loans to approximately 93% of small businesses, within just two months. The end result, the authors estimate, is that the program preserved up to 3 million “job years” of employment at a cost of between $170,000 to $257,000 per job year retained. Another finding was that so-called second-draw loans in 2021 — that is, companies going back for more funding a year later — had no impact on employment. The authors said that was “perhaps because they were issued too late to be relevant, after the economic recovery was well underway. If this interpretation is correct, it affirms that Congress was wise to prioritize speed over precision in dispatching the initial two tranches of PPP loans.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Here’s where billions in PPP cash meant for workers actually ended up goingWhen the small business sector that employed nearly half of all U.S. workers before the pandemic faced imminent collapse in 2020, the U.S. government...
Weiterlesen »
Portland restaurant owner blames Democrats for business downfallJoule Crafted Nutrition owner Eric Post joined “Varney & Co.” Friday and said his business closed due to constant break-ins by homeless addicts.
Weiterlesen »
Kamala Harris announces $600 million toward California wildfire recoveryVP Kamala Harris announced today that the administration is committing $1.3 billion to disaster relief funding, including $600 million for California.
Weiterlesen »
Taco Bell starts business school for aspiring franchise ownersTaco Bell is on a mission to help its employees level up their skills and maybe even own a restaurant franchise in the future with a specialized fast food school.
Weiterlesen »
Jersey City deli robbed 3 three times in one week -- by same violent hoodlum, owner says'If you want to take the money, take the money, but don’t hurt people.”
Weiterlesen »
Study Finds They Just Don’t Make ’Em Like Ginger Rogers AnymoreLOS ANGELES—Confirming the widely held theory that, hoo boy, that dame sure is somethin’, a study released Monday by researchers at UCLA found that they just don’t make ‘em like Ginger Rogers anymore. “After an exhaustive five-year survey of thousands of little numbers who may be real firecrackers but ain’t even a…
Weiterlesen »