An Instagram post listed 13 Republican politicians who criticized President Joe Biden’s plan to cancel student debt, but took out Paycheck Protection Program loans that the government forgave. We rated the post True.
The Instagram post was flagged as part of Facebook’s efforts to combat false news and misinformation on its News Feed. Instagram is owned by Facebook’s parent company, Meta. Comparing the Paycheck Protection Program with student debt forgiveness is not entirely parallel, as the business loans wereU.S. Rep. Ralph Norman, R-S.C., whose businesses had their loans forgiven,"The PPP helped people remain employed while the government literally shut down much of the economy," Norman said.
Bharat Ramamurti, deputy director of the president's National Economic Council, told reporters the comparison was fair and Republicans were following aThe Instagram post and original tweet do not name a source for the loan amounts. But other social media users haveestablished by the nonprofit news organization ProPublica that tracks businesses that received loans from the program.
ProPublica’s database was made with information obtained through Freedom of Information Act requests from the U.S. Small Business Administration, which implemented the Paycheck Protection Program with the Treasury Department. The program, established by the Coronavirus Aid, Relief and Economic Security Act, aka CARES, began in March 2020 to help small businesses affected by COVID-19 cover payrolls and, in some cases, hire back employees who were laid off. Companies across the country receivedLawmakers are not excluded from participating in the Paycheck Protection Program, and politicians from
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