(Al Drago/Pool via AP)WASHINGTON Building ramparts of secrecy around a $600 billion-plus coronavirus aid program for small businesses, Treasury Secretary Steven Mnuchin has moved from delay to denial in refusing outright to disclose the recipients of taxpayer-funded loans.
About 10 weeks after the program was launched, the SBA says it has processed 4.5 million loans worth $511 billion.
While the SBA administers the program, Mnuchins Treasury Department has ultimate control over it.
We believe that thats proprietary information, and in many cases, for sole proprietors and small businesses, is confidential information, Mnuchin said during the hearing by the Senate Small Business Committee.
Praise for the small-business loan program flowed to Mnuchin and Carranza at the hearing from senators from both parties, who cited the positive economic impact across the country.