Topic: Small Business Administration

The Small Business Administration reportedly issued over $300 million in loans to individuals under the age of 11, including a nine-month-old infant. Fraudsters are allegedly stealing the Social Security numbers of newborns to secure government loans, leaving children with ruined credit ratings before they reach adulthood. Similar fraudulent activity was found involving individuals listed as being over 120 years old.

A report from a former New York banker claims that Wells Fargo is holding the Payroll Protection Plan (PPP) hostage. The bank is allegedly refusing to process small business loans unless the White House lifts its regulatory asset cap. The hosts characterize this as a form of blackmail against the federal government during a national crisis.

During a press briefing, President Trump clashes with a reporter over the implementation of small business loans, defending the program's success despite reports of banking delays. He mocks the press for their persistence and negative framing of questions. Trump suggests that the reporters' constant questioning shows they "love what they do," even if they do not always do it well.

A detailed breakdown of the Small Business Administration (SBA) loan program explains how businesses can receive forgivable grants for three months of payroll. The hosts contrast this with the $500 billion corporate loan fund, noting specific provisions that prevent members of the Trump administration or Congress from benefiting. They criticize Nancy Pelosi's media appearances regarding oversight of these funds.

The proposed Consolidation Authority Act aims to merge several agencies, including the Commerce Department and the Small Business Administration, into a single entity. The administration also launched BusinessUSA.gov as a "one-stop shop" for businesses. Critics suggest this consolidation is a move toward implementing a federal Value Added Tax (VAT) via the Streamlined Sales Tax project.