North Miami-Dade News

WASHINGTON, D.C. - Today, the House of Representatives approved the "RECLAIM Taxpayer Funds" Act (H.R. 4667) with overwhelming bipartisan support. The bill, introduced by Representative María Elvira Salazar (R-FL), aims to recover billions of dollars for taxpayers by reclaiming fraudulent government loans and restoring fiscal responsibility and accountability.

In a statement, Representative Salazar emphasized the importance of preventing bad actors from misusing taxpayer money. She said, "The federal government must step up and ensure that bad actors do not walk away with hard-earned taxpayer dollars. By passing the 'RECLAIM Taxpayer Funds' Act, the House of Representatives is sending a clear message to the Biden Administration to be more accountable for federal programs that are meant to serve, not to steal."

The "RECLAIM Taxpayer Funds" Act specifically targets the Small Business Administration (SBA) and requires them to account for fraudulent and unused loans from the Paycheck Protection Program (PPP) distributed during the peak of the COVID-19 pandemic.

A report from the SBA's Inspector General, Hannibal Ware, in June 2023 revealed that out of the $1.2 trillion in disaster and economic injury loans (EIDL) granted by the federal government since the start of the pandemic, $200 billion were potentially fraudulent. SBA Administrator Isabel Guzmán responded with a competitive report on the same day, stating that only $36 billion of these loans were fraudulent.

When the House Small Business Committee called on Administrator Guzmán and Inspector General Ware to explain this discrepancy, only Ware decided to appear. Since then, the Small Business Administration has not provided any adequate explanation regarding the extent of abuse in the COVID-EIDL loans or how it plans to recover stolen funds.

Representative Salazar introduced the "RECLAIM Taxpayer Funds" Act alongside Representative Morgan McGarvey (D-KY). The H.R. 4667 bill was originally approved unanimously by the House Small Business Committee in July 2023.

The approval of this legislation in the House of Representatives is an important step towards holding the federal government accountable for taxpayer funds and ensuring that fraudulent loans are identified and recovered. The bill now moves to the Senate for further consideration.

To listen to Representative María Elvira Salazar's remarks in defense of the "RECLAIM Taxpayer Funds" Act in the House of Representatives, click here. For more details on the "RECLAIM Taxpayer Funds" Act, click here.

The passage of this legislation highlights the bipartisan commitment to protecting taxpayer dollars and promoting fiscal responsibility. By reclaiming fraudulent loans, the government can redirect these funds to where they are truly needed, supporting businesses and individuals who have been severely impacted by the pandemic.

For additional details, please follow this link: https://salazar.house.gov/media/press-releases/camara-de-representantes-aprueba-la-ley-reclaim-taxpayer-funds-de-la