Congresswoman Maria Elvira Salazar | Maria Elvira Salazar Official Website
Congresswoman Maria Elvira Salazar | Maria Elvira Salazar Official Website
WASHINGTON, D.C. – This week, the House Small Business Committee passed Rep. María Elvira Salazar (R-FL)’s RECLAIM Taxpayer Funds Act (H.R. 4667) in markup in a bipartisan, unanimous vote.
“Our federal government should identify waste and return it to the taxpayer, not hide it like Isabel Guzman’s Small Business Administration is trying to do,” said Rep. Salazar. “The RECLAIM Taxpayer Funds Act bill is a crucial step toward restoring integrity to government lending and dignity back to the taxpayer.”
The Returning Erroneous COVID Loans Addressing Illegal and Misappropriated (RECLAIM) Taxpayer Funds Act requires the Small Business Administration (SBA) to establish processes to account for fraudulent and unused Paycheck Protection Program (PPP) loans distributed during the height of the COVID-19 pandemic.
A recent report from SBA Inspector General Hannibal Ware shows that of the $1.2 trillion in COVID Economic Injury and Disaster Loans (EIDL) given by the federal government since the beginning of the pandemic, $200 billion were found to be potentially fraudulent. SBA Administrator Isabel Guzman responded with a competing report the same day claiming only $36 billion of these loans were fraudulent.
Congresswoman Salazar is working to get this bill passed by the full House of Representatives.
For more details about the RECLAIM Taxpayer Funds Act, click HERE! For more info, visit Salazar.House.Gov.
Original source can be found here.
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