Rep. Van Duyne Announce Bill Targeting Misuse of Covid Loans

Texas Representative Beth Van Duyne (R) took to social media to announce her new bipartisan bill that addresses the misuse of COVID-19 loans.

“The SBA and Biden administration have failed to demand accountability of the rampant fraud in pandemic lending programs. This week, my colleagues and I took action,” said Rep. Van Duyne.

“I’m pleased that my bill to streamline the fraud reporting process was unanimously advanced by @HouseSmallBiz!”

The bill was cosponsored by Ohio Representative Greg Landsman (D).

According to the bill’s text, H.R. 5426 requires the Administrator of the Small Business Administration to provide a link to resources for submitting reports on suspected fraud relating to certain COVID-19 loans

The Small Business Administration (SBA) estimates that the organization gave out nearly $200 billion in fraudulent Economic Injury Disaster Loans (EIDL) and has recovered almost $30 billion in return.

“Despite ever-worsening reports of fraud in pandemic lending programs, the SBA continues to ignore its obligations to recover these stolen funds — never mind taking responsibility for failing to implement safeguards to protect taxpayers’ money,” said Rep. Van Duyne.

The Texas congresswoman concluded her statement ensuring voters that the bill would help stop the many “fraudsters” who’d misused the loans.

“This week, my colleagues and I took another important step toward holding the SBA and pandemic fraudsters accountable. I’m pleased that my fellow Committee members voted to advance my bill, H.R. 5426, to streamline the reporting process of suspected fraudulent loans, and I look forward to continuing work with Chairman Williams to hold the SBA accountable.”

In other news, Texas Representative Joaquin Castro (D) joined a group of lawmakers sending a letter to Secretary of Commerce Gina Raimondo, requesting answers on the Department of Commerce’s (Commerce) questionable oversight of assault weapons exports and its failure to release data on its approvals of the weapons.

Furthermore, the lawmakers are requesting that Commerce publicly release the data on the weapons exports.

“In March 2020, the Trump administration transferred oversight of [assault weapons exports] from the State Department to Commerce, after which the value of assault weapon export license approvals immediately shot up by roughly 30 percent, profiting gun manufacturers while putting civilians at risk around the world. This problem may be getting worse – yet your Department has not published updated annual data — which will soon be a full year late — or responded to a congressional inquiry,” wrote the lawmakers.