For Immediate Release

CONTACT: Kunal Atit

Kunal@eugeneforcongress.com

(215) 485-7740

DATE: July 7, 2020

PENNSYLVANIA SMALL BUSINESSES STRUGGLE DURING ECONOMIC DOWNTURN, WHILE WELL-CONNECTED CORPORATIONS RECEIVE BILLIONS OF DOLLARS IN PPP LOANS

Yesterday, the Small Business Administration Disclosed Businesses that Received Over $150,000 from the Paycheck Protection Program, Revealing Well-Connected Corporations Received Billions Intended for Small Businesses

While Pennsylvania small businesses struggle through the economic downturn caused by Covid-19, Monday’s disclosure by the Small Business Administration revealed billions of dollars from the Paycheck Protection Program were received by large, well-connected corporationsOne report highlighted that millions of dollars were sent to groups that directly lobby Congress, while others outlined that $10 billion was given to clients of lobbyists close to the administration. Even a member of the Pennsylvania Congressional delegation received federal assistance.

Eugene DePasquale, Democratic candidate for Pennsylvania’s 10th Congressional District, issued the following statement in response to the news reports:

“Corruption is not a single party issue. Both Democrats and Republicans are influenced by special interests and the rest of us pay the price.” DePasquale said. “The fact that political connections clearly played a role in how billions in PPP funds were distributed is an all too familiar reminder that our political system is broken. As Auditor General, I’ve taken on both parties and the special interests that use them, on behalf of everyday Pennsylvanians. I will do the same in Washington as the Congressman for PA-10.”

As Auditor General, DePasquale has conducted numerous audits on both Democratic and Republican elected officials, earning the title of Pennsylvania’s “fiscal watchdog”, going after millions of dollars in Charter School waste and speaking out against the legalization of payday lending during his time in the State House.

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