United States – Paycheck Protection Program

April 17, 2020

United States – Paycheck Protection Program

Padmini Arhant

United States Congress passed $2.2 Trillion corona virus economic stimulus package of which $350 billion allocated towards Paycheck Protection Program (PPP) intended to pay workers employed by small businesses and local industry with 500 or less employees appear to be losing to hospitality industry big corporate chains protecting their investments in big hotels and franchises not only in the United States but worldwide.

Is this what lobbying Congress deliver lobby firms representing big corporate chains at ordinary tax payer expense? 

While the $2.2 trillion tax payers funded stimulus checks has strict income based means to qualify for $1200 payment to households leaving others above the threshold to fend for themselves,

The affluent members such as big hotel chains and real estate owners in hospitality industry in the economic sector with more than adequate resources and fall back options at their disposal depriving small businesses and their workers from receiving due economic relief deserves review and attention. 

Corporate bailout during any crisis is the norm burdening ordinary tax payers with generational debt. The corporate socialism typically provides opportunity to enhance  personal wealth in buy back stock holdings and corporate ventures taking advantage of incentives meant for small businesses and workers hit hard in the economic and health crisis. The loopholes in the economic package gained through lobbying is disproportionately misused denying other victims a fair share of the large stimuli. 

The relevant work force and organizations representing the weaker economic sector i.e. small businesses and employees who are laid off in the current economic freeze with no lobbying power unlike major corporate entities cannot be neglected considering they ultimately contribute to larger consumer base necessary for big corporate survival in any industry. 

The loans to small businesses expected to retain workers and employees in the $350 billion PPP package reaching the appropriate recipients is critical for economic revival.

Similarly, the upcoming $250 billion stimulus that United States Congress is about to approve targeting the vulnerable and severely affected local businesses and workers are facing fierce competition from bigger enterprise utilizing their lobbying capacity to maximum benefit.

Congress members heeding ordinary citizens economic plight in the unprecedented health and economic situation would guarantee better results in economic recovery. 

Average citizens as workers and consumers together with small entrepreneurs are equally instrumental in micro and macro economic management.

Accordingly, their growth and development is an integral part of economic sustenance. 

Thank you.

Padmini Arhant 

Author & Presenter

PadminiArhant.com

Prakrithi.PadminiArhant.com 

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Reference article – Orlando Sentinel, United States – Thank you. 

https://apple.news/AJezdLCafQuuZxGt47BWFrg

“Big corporate chains are getting millions in coronavirus aid meant for small businesses – Orlando Sentinel

Large hotel, restaurant companies getting small-business loans want to spend less of the money paying workers.”

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