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NAT’L – INDUSTRY INSIDER – Weapons Manufacturers Secured $164M In PPP Funds Despite Booming Gun and Ammo Sales

ACCOUNTABLE.US October 19, 2020 – A new analysis from government watchdog Accountable.US found that weapons manufacturers secured up to $164 million in Paycheck Protection Program (PPP) funds despite a spike in gun sales during the pandemic. These gun companies received taxpayer-funded relief meant for struggling small businesses following an aggressive lobbying effort from the industry on the CARES Act. Nineteen Senators wrote a letter to the Treasury Department to ensure gun companies would be included in the disbursement of PPP funds – including 15 lawmakers who have received contributions from the National Shooting Sports Foundation’s PAC. “For the thousands of small businesses in communities of color that couldn’t access a single dollar in PPP relief, the fact that guns makers secured millions in taxpayer-backed loans despite booming pandemic sales is likely disturbing,” said Kyle Herrig, president of Accountable.US, the government watchdog which has been tracking CARES Act spending as part of its COVIDBailoutTracker.com project. “This situation was created by an administration that doesn’t care whether help gets to anyone but the wealthy and well-connected. Congress must ensure any new small businesses aid is distributed fairly, and aimed at those who actually need it.”  [full article]

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