PPP loans

2022 - 8 - 25

White House Slams Republicans Who Criticized Student Debt Relief ... (Forbes)

The White House name-dropped six GOP members of Congress whose businesses received six- or seven-figures' worth of PPP loan forgiveness.

[took out loans](https://www.forbes.com/sites/nicholasreimann/2021/10/08/joel-osteens-megachurch-reportedly-paying-back-44-million-ppp-loan/?sh=741e34eb638f). [a barrage of criticism](https://www.forbes.com/sites/nicholasreimann/2022/08/24/progressives-praise-bidens-student-debt-cancellation-as-gop-and-moderates-voice-concern/?sh=446bcc7974da) from Republican lawmakers for his move Wednesday to cancel $10,000 in federal student loan debt for borrowers making less than $125,000 a year, with $20,000 in debt relief for those under the income threshold who received Pell Grants. A [study](https://www.stlouisfed.org/publications/regional-economist/2022/jul/was-paycheck-protection-program-effective) published last month by the Federal Reserve Bank of St. Senate Majority Leader Mitch McConnell (R-Ky.) was among the first lawmakers to speak out against the plan, castigating it as "a slap in the face to every family who sacrificed to save for college." It has been marred by reports of fraud and abuse, and instances in which larger and more well-heeled employers [account](https://twitter.com/WhiteHouse/status/1562916200866267138?s=20&t=lgKh7i95Nt6Sz3pkeXH0IQ) quote-tweeted criticisms of Biden's plan voiced by Republican Reps. The six tweets in the White House's thread were the six most popular on the platform published between 4 p.m. [Progressives Praise Biden’s Student Debt Cancellation As GOP And Moderates Voice Concern](https://www.forbes.com/sites/nicholasreimann/2022/08/24/progressives-praise-bidens-student-debt-cancellation-as-gop-and-moderates-voice-concern/?sh=446bcc7974da) (Forbes) [Biden’s Student Loan Forgiveness Plan: Here’s Who Benefits Most—And Least](https://www.forbes.com/sites/dereksaul/2022/08/24/bidens-student-loan-forgiveness-plan-heres-who-benefits-most-and-least/?sh=c02248d64133) (Forbes) [Joel Osteen’s Megachurch Reportedly Paying Back $4.4 Million PPP Loan](https://www.forbes.com/sites/nicholasreimann/2021/10/08/joel-osteens-megachurch-reportedly-paying-back-44-million-ppp-loan/?sh=741e34eb638f) (Forbes) Matt Gaetz (R-Fla.) critical of funding the Ukrainian military. and 7 p.m. [received PPP loans](https://www.washingtonpost.com/business/2020/07/06/sba-ppp-loans-data/), as did several of Kelly’s car dealerships and a [company owned by](https://projects.propublica.org/coronavirus/bailouts/loans/taylor-commercial-inc-1932537103) [Greene’s family](https://disclosures-clerk.house.gov/public_disc/financial-pdfs/2020/10042733.pdf). [student loan debt](https://www.forbes.com/sites/dereksaul/2022/08/24/bidens-student-loan-forgiveness-plan-heres-who-benefits-most-and-least/?sh=c02248d64133) for many borrowers, pointing out that some of the critics’ businesses had more than $1 million in federal loans forgiven as part of the pandemic-era Paycheck Protection Program.

White House Twitter account calls out politicians who had PPP loans ... (masslive.com)

Biden announced on Wednesday a plan by the federal government to forgive $10,000 of federal student loan debt, and an additional $10,000 for Pell grant ...

officials unveil $40 million proposal to make classrooms safer](https://www.masslive.com/politics/2022/08/in-wake-of-uvalde-texas-school-shooting-mass-officials-unveil-40-million-proposal-aimed-at-making-classrooms-safer.html) [wrote](https://twitter.com/RepMullin/status/1562965906572972032). Kevin Hern for having over $1 million in PPP loans forgiven. [responded](https://twitter.com/jonathanolsen31/status/1563123449886674947) to Gorka. [tweeted](https://twitter.com/Neoavatara/status/1562988977682251777). “Taxpayers that never took out a student loan, taxpayers that pay their bills and maybe never went to college and are just hard working people, they shouldn’t have to pay off the great big student loan debt for some college student.” [tweeted](https://twitter.com/71Elvis77/status/1563004055206518787). Markwayne Mullin for having over $1.4 million in PPP loans forgiven and Rep. Small Business Administration during the COVID-19 pandemic. Vern Buchanan for having over $2.3 million in PPP loans forgiven, Rep. [Gorka](https://twitter.com/SebGorka/status/1563063240082370560), a former deputy assistant to President Trump, tweeted. “It’s completely unfair,” said Rep.

White House calls out Republicans who criticized student loan ... (CBS News)

Marjorie Taylor Greene said for the government to say debt is forgiven "is completely unfair." The White House tweeted back that she had more than $183000 ...

He had more than $1.4 million in PPP loans forgiven, according to the White House. According to the White House, Greene and others benefited heavily from this loan forgiveness. Markwayne Mullin of Oklahoma said farmers, ranchers, small business owners and teachers in his state don't need to be "paying the debts of Ivy League lawyers and doctors across the U.S." "And taxpayers all over the country, taxpayers that never took out a student loan, taxpayers that pay their bills and maybe even never went to college and are just hardworking people, they shouldn't have to pay off the great big student loan debt for some college student that piled up massive debt going to some Ivy League school. "I know firsthand the sacrifices people make to receive an education," he said. Pell Grants declined by 39% during that time and veterans' benefits declined by 3%. Biden's plans, and said that forgiving student loans isn't fair for those who didn't go to college. The program was sometimes plagued by fraud. "For our government just to say, 'OK, well your debt is completely forgiven'...it's completely unfair," she said, according to a clip of the broadcast that was shared by the White House. After some Republican lawmakers tweeted or went on broadcasts to condemn the decision, the White House Twitter page responded by quote tweeting their comments – and sharing just how much each of them benefited from having their Paycheck Protection Program loans forgiven. Under the plan, borrowers who earn less than $125,000 will be eligible to have Those in that income range who had Pell Grants in college will be eligible for an additional $10,000 in forgiveness.

White House claps back at lawmakers who criticized student loan ... (FOX 11 Los Angeles)

He's canceling an additional $10,000 for those who received federal Pell Grants to attend college. Biden also extended a pause on federal student loan payments ...

Mike Kelly of [Pennsylvania](https://www.fox29.com/tag/us/pa). The pause is now set to run through the end of the year, with repayments to restart in January. Vern Buchanan and Matt Gaetz of [Florida](https://www.fox35orlando.com/tag/us/fl); Reps. Marjorie Taylor Greene](https://www.fox5atlanta.com/tag/people/marjorie-taylor-greene) of Georgia; Reps. They also argued that PPP loans were approved by Congress, unlike the executive action Biden took this week on student loan forgiveness. About 60% of borrowers are recipients of federal Pell Grants, which are reserved for undergraduates with the most significant financial need, meaning more than half can get $20,000 in relief.

White House Snaps Back at Twitter Critics of Student Loan Relief (The New York Times)

In an aggressive turn, the normally staid @WhiteHouse account itemized hundreds of thousands of dollars in pandemic-related debt relief given to U.S. House ...

“Why is it, from the perspective of Republicans, great to forgive a loan of up to $10 million to a business owner, but if we want to provide $10,000 or $20,000 in loan forgiveness for a teacher or a bus driver or a nurse, all the sudden it’s socialism?” [One graphic in particular](https://twitter.com/CAPAction/status/1562509000494968832) was shared widely and listed the same six Republicans the White House identified and seven other members of Congress who it said had been forgiven between $38,000 and $4.3 million in P.P.P. [It was a simple formula](https://twitter.com/WhiteHouse/status/1562916210819436544), and one that had been employed all over social media at that point, but given the source, the tone was unusually pointed. Biden announcing the student loan plan, was shared just a little more than 1,000 times. Asked about the tweets on Friday, Bharat Ramamurti, a deputy director of Mr. [the plan was announced](https://www.nytimes.com/2022/08/24/us/politics/student-loan-forgiveness-biden.html) on Wednesday, individuals and activists found critics’ loan information on public databases and shared it online. The Education Department estimates that nearly 90 percent of affected borrowers earn $75,000 a year or less. This includes participating in marches or rallies in support of a movement or giving money to, or raising money for, any political candidate or election cause. Stories like this are possible because of our deep commitment to original reporting, produced by a global staff of over 1,700 journalists who have all dedicated themselves to helping you understand the world. “We’ve never hesitated to call out hypocrisy, and we’re not going to stop now,” Alexandra LaManna, a White House spokeswoman, said when she was asked about the tweets on Friday. “It is longstanding agency policy spanning multiple previous administrations not to comment on individual borrowers,” he said. House members who criticized the Biden plan.

'Congresswoman Marjorie Taylor Greene had $183504 in PPP ... (MarketWatch)

The White House is taking on Republican critics of the recently announced loan-forgiveness plan by noting how much they received in PPP debt cancellation.

[Three Democrats](https://www.marketwatch.com/story/biden-should-have-further-targeted-the-relief-democrats-in-tough-senate-races-distance-themselves-from-his-plan-for-student-loan-forgiveness-11661376372?mod=victor-reklaitis&mod=article_inline) in competitive Senate raises voiced their objection to the policy. Some Republicans hit back at the Biden administration’s attempt to compare student-loan forgiveness to PPP loan forgiveness. Small Business Administration during the pandemic, only to have those loans forgiven later: No household in the top 5% of incomes would receive relief. The administration also announced it would extend the pause on student-loan payments, collections and interest through Dec. The Biden administration swung back Thursday at Republican critics of its recently announced student-loan forgiveness policy — including Reps.