The Federal Government Spent Nearly $3 Trillion on Coronavirus Relief. Oversight Has Been a Mess.

When President Donald Trump was asked in April if it was appropriate for large companies and institutions like Harvard to receive funds from coronavirus relief bills, he responded by insisting that he, at least, hadn't benefited. "Well, I know one thing: I didn't get any. That's for sure. I didn't get any," he said. Members of Congress appear to be a different story. At least four representatives—two Republicans and two Democrats—have what Politico describes as "close ties" to businesses that have received federal relief funds, meaning that the companies are run by or employ members of their families. As Politico notes, there are likely more beneficiaries in Congress, but a lack of transparency in how the funds are being disbursed makes it impossible to know for sure. The package of coronavirus relief bills passed earlier this year calls for nearly $3 trillion in federal spending, hundreds of billions of it in the form of loans to businesses harmed by the virus and the lockdowns. Those loans, which can amount to millions of dollars per beneficiary, are better understood as grants: They are fully forgivable provided they are used according to federal directives. But despite the administration's promises to identify grantees, many of the details remain shrouded in secrecy...MORE