Submitted By: dixiegainer@gmail.com – Click to email about this post
Oregon Democratic senator Ron Wyden warned early in the pandemic that wealthy business owners could abuse the Paycheck Protection Program. Financial disclosures suggest his wife did just that.
Nancy Bass Wyden, the multimillionaire owner of New York’s Strand bookstore, received $2.7 million in Paycheck Protection Program loans between 2020 and 2021 and nonetheless went on to lay off 180 employees. Small businesses were eligible for the federally forgiven loans on the condition that they used a majority of the funds to keep employees on the payroll. In October 2020, Bass Wyden told CBS News that the Strand would not rehire many of those employees and that the store would “have to give back part of the loan due to the forgiveness rules
But as of September of last year, the federal government had forgiven both loans, ProPublica reported. The Small Business Administration declined to comment and the Strand did not respond to the Washington Free Beacon’s requests for comments on the loans.
freebeacon.com/democrats/ron-wydens-wife-raked-in-ppp-loans-while-laying-off-hundreds/
Nancy Bass Wyden, the multimillionaire owner of New York’s Strand bookstore, received $2.7 million in Paycheck Protection Program loans between 2020 and 2021 and nonetheless went on to lay off 180 employees. Small businesses were eligible for the federally forgiven loans on the condition that they used a majority of the funds to keep employees on the payroll. In October 2020, Bass Wyden told CBS News that the Strand would not rehire many of those employees and that the store would “have to give back part of the loan due to the forgiveness rules
But as of September of last year, the federal government had forgiven both loans, ProPublica reported. The Small Business Administration declined to comment and the Strand did not respond to the Washington Free Beacon’s requests for comments on the loans.
freebeacon.com/democrats/ron-wydens-wife-raked-in-ppp-loans-while-laying-off-hundreds/
Sen. Ron wyden does not live in Oregon anymore and hasn’t for a long time – please don’t vote for someone who doesn’tt live here and cannot possibly represent Oegonians