The Pandemic Response Accountability Committee (PRAC), a federal watchdog overseeing pandemic-era spending, found that the U.S. government issued $5.4 billion in “potentially fraudulent pandemic loans,” according to a report released Monday. PRAC identified 69,323 “questionable” Social Security Numbers in connection with the $5.4 billion in loans. These programs provided nearly $1.2 trillion in assistance to small businesses and their employees affected by the COVID-19 pandemic. “I don’t think history will be kind to the PPP loan program,” Oversight Chairman James Comer (R-KY) said Monday. Under Republican leadership, the Oversight Committee is returning to its primary duty to root out waste, fraud, abuse, and mismanagement in the federal government and hold President Biden accountable.

Source: Washington Post February 01, 2023 00:04 UTC