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Rep. Katie Porter Profile picture
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4 Dec, 5 tweets, 2 min read
The Paycheck Protection Program was supposed to help small businesses. Yet, new data makes it clear that absent aggressive, real time oversight, millions of taxpayer dollars went out the door to some of the largest companies and national chains. (1/5)

washingtonpost.com/business/2020/…
Since April, I've been urging the Administration to disclose data on exactly which businesses were getting these forgivable loans. I introduced legislation to make this information publicly available so the American people could have confidence in the PPP *in real time*. (2/5)
The Administration resisted, and now we know why: a majority of PPP funds went to just a fraction of recipients--including Trump and Kushner properties. Meanwhile, millions are unemployed and small businesses are struggling to stay open. (3/5)

nbcnews.com/business/busin…
We need to hold these bad actors accountable and pass new measures to prevent abuse of taxpayer dollars. That’s why @SenGillibrand and I introduced legislation to crack down on politicians seeking to enrich themselves through programs like the PPP. (4/5)

And we also need to do more to actually help small businesses keep workers on payroll. I'm proud to back the Paycheck Recovery Act, which would provide direct relief to families and small businesses—not special interests. I told @ChrisCuomo about this earlier this week ⬇️ (5/5)

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More from @RepKatiePorter

Rep. Katie Porter Profile picture
2 Dec
Absent action from the Senate, key COVID relief measures are set to expire at the end of the month, including expanded unemployment assistance, an eviction moratorium, and student loan forbearance. These are critical programs that millions of families rely on. 🧵⬇️
We are facing unemployment numbers unlike anything in generations. If Congress does not act, as many as 13 million Americans—including gig workers, independent contractors, and the self-employed—will lose the aid that’s helping them make ends meet. (2/5)

nytimes.com/2020/11/11/bus…
Also expiring? A memorandum prohibiting evictions. Our country has long faced a housing affordability crisis that demands comprehensive, bold action. In the meantime, extending the memorandum is essential for reducing the spread of COVID-19. (3/5)

vox.com/21569601/evict…
Read 5 tweets
Rep. Katie Porter Profile picture
23 Nov
Last year, @HHSGov found that more than half of the federal contractors responsible for transporting lifesaving organs were failing baseline performance measures, resulting in *thousands* of potential donations falling through the cracks and countless lives lost. (1/5)
Last October, I reached out to @HHSGov and @CMSGov about the lack of oversight and reporting requirements for these contractors, known as Organ Procurement Organizations (OPOs). Several weeks later, @CMSGov issued a proposed rule to hold OPOs accountable. (2/5)
But these contractors tried to fight back. They claimed @HHSGov should delay making changes until after the pandemic. This made no sense to @RepKarenBass and me, especially given the risks COVID poses to many patients in organ failure. (3/5)

pogo.org/investigation/…
Read 5 tweets
Rep. Katie Porter Profile picture
13 Nov
In March, Congress gave billions in COVID relief to the @federalreserve to help struggling businesses. The Fed pledged these taxpayer dollars would *not* bail out Wall Street banks. They went back on their word—to the tune of 2 billion dollars. So I'm calling them out. (THREAD)
The Fed explicitly stated that COVID relief funds would not help “insured depository institutions”—aka banks. That makes sense, since many of those banks have had record profits during the coronavirus pandemic. And we just bailed them out in 2008-2009. (2/5) Image
Yet, the Fed used COVID relief funding to purchase $1.3 billion of Exchange-Traded Funds (ETFs). ETFs are baskets of stocks, similar to mutual funds, and they contain billions of Wall Street's debt. (3/5)

wsj.com/articles/feder…
Read 5 tweets
Rep. Katie Porter Profile picture
11 Nov
This #VeteransDay, we honor the millions of veterans and their families who have sacrificed so much in service to our country. Today, I’m proud to highlight some of the veterans who are enriching our Orange County community.

I hope you’ll join me in thanking our veterans. 🧵⬇️
Our district is home to nearly 30,000 veterans, including Martha—who served in the U.S. Marines Corps for seven years and the Reserves for five. She was the first woman to complete the Marine Corps Security Forces School, and she now works with college students in our area.
Our office has been proud to partner with Bobby, who served in the U.S. Navy during the Vietnam War. A tireless advocate for veterans and small business owners, Bobby is now President and Executive Director of the Black Chamber of Commerce of Orange County.
Read 4 tweets
Rep. Katie Porter Profile picture
6 Oct
I'm not afraid to stand up to corporate interests, especially when the health of Orange County families is on the line. That's why I've taken the fight to Big Pharma to lower prescription drug prices—and I'm not backing down. 🧵👇
To me, hearings aren’t just a time to get information from witnesses, but also an opportunity to invite the American people into critical conversations happening in the halls of Congress. For many, the skyrocketing costs of prescription drugs is a matter of life and death. (2/8)
During a hearing last Wednesday, I called out a Big Pharma CEO for taking home a *half a million dollar bonus* just for tripling the price of a lifesaving cancer drug. In 2017, that same CEO made $13,000,000—or 200x more than the average American. (3/8)

Read 8 tweets
Rep. Katie Porter Profile picture
25 Sep
Some of you may have heard that the President signed an Executive Order yesterday to “protect people with pre-existing conditions.” As a mom, I’m pretty good at sniffing out little white lies, and this set my parent spidey senses off. (1/7)
I asked myself, why would the President need to protect people with pre-existing conditions when the ACA already does that? Maybe it’s because he’s trying to tear the law apart in court, which would put millions of Americans at risk of losing their coverage in a pandemic. (2/7)
This Executive Order—which carries zero legal weight—is nothing more than a press release to distract from the Administration trying to rip up the ACA. Don’t take my word for it, see this explanation from health and legal expert @nicholas_bagley.

(3/7)
Read 7 tweets

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