WASHINGTON: A high-profile pandemic aid program protected about 51.1 million American jobs, the Trump administration said on Monday, as it revealed how US$521.4 billion in taxpayer cash was injected into small businesses but also into the pockets of the rich and famous.
The data on the small business Paycheck Protection Program (PPP) seemed to confirm worries among Democrats and watchdog groups that in addition to mom-and-pop shops, the funds went to well-heeled and politically-connected companies, some of which were approved for between US$5 million and $10 million.