TOPLINE
Organizations that vigorously oppose government spending took Paycheck Protection Program loans, including some that have criticized the CARES Act, which created the PPP program, according to data released by the Small Business Administration.
WASHINGTON, DC - NOVEMBER 07: Grover Norquist, president of Americans for Tax Reform, (2nd L) ... [+] speaks as (L-R) U.S. Sen. David Perdue (R-GA) and Secretary of the Treasury Steven Mnuchin listen during a news conference on tax reform November 7, 2017 on Capitol Hill in Washington, DC. Senate Republicans held a news conference to discuss "the need for tax reform and the impact it will have on American families, small businesses and the economy." (Photo by Alex Wong/Getty Images)
Americans for Tax Reform Foundation, which says it educates taxpayers on the true cost of government and the realities of costly government programs, received between $150,000 and $300,000 in loans.
In a statement, Americans for Tax Reform claimed it never opposed the PPP program and defended the foundations decision to take government loans, which it said allowed the foundation to maintain its employees without laying anyone off after it was badly hurt by the government shutdown.
But ATR founder Grover Norquist has criticized the unemployment insurance provision of the CARES Act, which he said delays recovery, and signed a letter urging lawmakers not to approve a second stimulus bill.
The Ayn Rand Institute, named for conservative philosopher Ayn Rand, received a loan of between $350,000 and $1 million, which it called partial restitution for government-inflicted losses."
It would be a terrible injustice for pro-capitalists to step aside and leave the funds to those indifferent or actively hostile to capitalism, Ayn Rand Institute board member Harry Binswanger argued in May, stating that the organization would take any relief money offered us.
Citizens Against Government Waste, one of the countrys most prominent anti-government spending organizations and a frequent critic of the CARES Act, took between $150,000 and $350,000 in loans as well.
The PPP program has been accused of discrimination against black-owned small businesses and criticized for giving loans to politically connected companies and organizations, including some connected to members of Congress, President Trumps son-in-law Jared Kushner and even Trump himself. Several large chains, some backed by private equity, have also received loans from the program.
4,880,943. Thats how many loans were approved by the PPP program, according to the Small Business Administration.
Chinese electric vehicle startups Byton, Nio and Karma Automotive, the U.S. research and development center of Chinese state-owned carmaker Changan Automobile, German audio equipment maker Sennheiser, Kanye Wests apparel brand Yeezy and the Burning Man festival all received PPP loans, Forbes Siladitya Ray reported.
Forbes Media was approved to receive between $5 and $10 million in PPP funds, according to SBA data.
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