WASHINGTON (AP) – House Democrats are demanding that companies return federal dollars that they say were intended for smaller businesses.
A Democratic-led subcommittee overseeing coronavirus aid on Friday sent letters to five companies as its first official action. The panel said the companies received loans of $10 million and should not have taken them. That’s because all the companies are public, have more than 600 employees and have a stock market value of more than $25 million.
Republicans did not sign the letters and criticized them as harassing businesses. Almost 50 public companies have already pledged to return coronavirus money to the government.
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