Congressman Cohen Again Seeks Answers from Mnuchin

September 28, 2020
Press Release
In second letter, asks for answers about forgiving loans amid rampant fraud

 

MEMPHIS – Congressman Steve Cohen (TN-09) today wrote to Treasury Secretary Steven Mnuchin for the second time, asking for clarification of his plan to forgive Paycheck Protection Program (PPP) loans despite clear evidence that some were obtained by fraud. In today’s letter, Congressman Cohen also asked Mnuchin to review coronavirus-related loans to businesses associated with President Trump in light of recent revelations that several businesses with ties to the president received millions of dollars in loans.

His letter reads in part:

“In my (September 11) letter, I requested a response within ten business days regarding automatic forgiveness for financial recovery funds without verification of compliance with the terms and conditions established for the program. I also requested justification for such forgiveness and why it is acceptable for the American taxpayer to be defrauded of billions of dollars. I am still very interested in responses to these questions and am disappointed that I have not heard word from your office, including acknowledgement of my letter… 

“Congress voted and passed relief programs as part of the CARES Act to help struggling businesses and families weather the storm and get through this unprecedented global health pandemic. To have that much-needed aid be abused and misused is unacceptable. To have that aid potentially awarded to some or potentially all of the President’s businesses or tenants at the expense of struggling small business owners is troubling. The Treasury Department must make every effort to ensure the resources Congress allocated reach those for whom they were intended. The American people have the right to know whether these extraordinary measures were administered fairly or if they personally benefited the President of the United States.”

See the entire letter here. See Congressman Cohen’s release containing the first letter here.

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