As student debt relief fails, some point to "hypocrisy" of PPP loans
The U.S. forgave $757 billion in loans through the Paycheck Protection Program, with most of those benefits going to the wealthy.
The U.S. forgave $757 billion in loans through the Paycheck Protection Program, with most of those benefits going to the wealthy.
President Biden is asking for $600 million for prosecution, including funds to create at least 10 new Justice Department strike forces.
Marjorie Taylor Greene said for the government to say debt is forgiven "is completely unfair." The White House tweeted back that she had more than $183,000 in PPP loans forgiven.
Federal prosecutors say Valesky Barosy, 27, of Fort Lauderdale, Florida used COVID-19 relief money to buy $2.2 million in luxury items such as a Lamborghini and Rolex watches.
Lee Price III falsely misrepresented the status of three companies, and used the money to spend thousands on a strip club, properties and luxury items.
The portal, expected to launch August 4, will apply to businesses that have Paycheck Protection Program loans of $150,000 or less.
Just $8 billion remains in the program, earmarked for companies headed by women or minorities.
Harris has been a strong advocate for small businesses that have had trouble obtaining loans to keep them afloat during the long pandemic.
Black and Latino business owners were less than half as likely to be fully approved for loans than White business owners.
Mr. Biden signed a bill extending the deadline to apply for Paycheck Protection Program loans through May 31.
A House subcommittee says it has evidence that mismanagement by the Trump administration led to nearly $84 billion in fraudulent Paycheck Protection Program (PPP) loans. Select committee member and Illinois Representative Raja Kirshnamoorthi joins CBSN's Lana Zak to discuss what's being done to prevent fraudulent PPP loans, the Baby Food Safety Act and the filibuster debate in the Senate.
When signed by President Joe Biden, the new legislation would give businesses another two months to apply for the Paycheck Protection Program.
The current Paycheck Protection Program is set to expire in a few weeks. Many Black-owned businesses have been unable to apply for the program's second round because of unforgiven loans. Gusto's chief operating officer Lexi Reese joins CBSN to discuss.
President Biden held a ceremony Monday evening to honor over 500,000 Americans who died from the coronavirus. Earlier in the day, he made changes to a federal program that helps small businesses impacted by the pandemic. CBS News' Natalie Brand joined CBSN's Elaine Quijano to discuss the latest from the White House.
President Biden will announce several revisions to a federal program helping businesses stay afloat during the pandemic, the Paycheck Protection Program. The changes are aimed at ensuring more small and minority-owned businesses are able to qualify for federal assistance. CBS News senior White House correspondent Weijia Jiang joins CBSN to discuss what those changes entail.
White House wants to provide more support to businesses with fewer than 20 workers, as well as sole proprietors.
Monday marks the first day small businesses can apply for the lated round of help from the Paycheck Protection Program. Lawmakers authorized $284 billion in forgivable loans for struggling businesses as part of the coronavirus relief bill that recently passed. Joanne Canady-Brown, owner of the Gingered Peach Bakery in Lawrenceville, New Jersey, shares her story with CBSN.
The federal loans, which can be forgiven, will have five-year terms and carry an interest rate of 1%.
Many "were being turned down in the first and second round of funding," said president of U.S. Black Chambers.
More than 100,000 U.S. restaurants have been killed off by the pandemic. Will the latest PPP loans for small businesses be enough to save the struggling survivors this winter? CBS MoneyWatch reporter Megan Cerullo tells CBSN why even more eateries could go under.
The pandemic has affected a broad spectrum of businesses. Many are depending on another round of federal help for survival. CFO David Burman of Other Half Brewing Company joins CBSN to share how the New York business has faced the challenge.
A new round of paycheck protection program loans gives special leeway to restaurants — but might not save eateries hanging on by a thread.
The coronavirus pandemic has crippled restaurants and small businesses across the country, but the extension of the Paycheck Protection Program may help. CBS News' Chip Reid spoke with Montana restaurant owner Chuck Tanner about impact and how he's keeping his business going.
The new coronavirus relief bill will provide more than $284 billion in loans for small businesses. The pandemic has forced many to shut down or downsize to make ends meet. Conner Mowles, the president of a company called ParkHub in Dallas, shares some of his challenges with CBSN.
News organizations, high-end co-ops and talent agents will have a better shot at getting a PPP loan in round three.
Former President Donald Trump looked on Tuesday night as his onetime rivals for the nomination lined up to support him.
President Biden is considering proposals to reform the Supreme Court, CBS News has learned.
The FBI is investigating whether the shooter was a politically motivated homegrown domestic violent extremist, and investigators are combing through his background.
U.S. intelligence recently detected an Iranian plot against former President Donald Trump, two U.S. officials tell CBS News.
Former U.N. Ambassador Nikki Haley and Florida Gov. Ron DeSantis endorsed former President Donald Trump at the Republican National Convention in Milwaukee.
Naomi Pomeroy, an award-winning chef who helped put Portland on the map as a culinary destination, was 49 years old.
Mayor Anne Hidalgo declare the Seine river "exquisite" after taking a long-promised dip to show its water is safe for the Paris Olympics.
Britain's King Charles III donned a ceremonial crown and robe to give a speech opening the U.K.'s first left-leaning parliament in 14 years.
The armorer on Alec Baldwin movie "Rust" filed to have her involuntary manslaughter conviction overturned, days after Baldwin's trial over a fatal on-set shooting collapsed due to withheld evidence.
Here's how much EssilorLuxottica is paying for Supreme, the skate brand with a cult following.
Growing share of Americans say they have skipped medical care or getting prescription drugs because of the cost.
Federal transportation officials say $5 billion will be devoted to replacing or improving aging bridges in 16 states.
Caitlyn Mai underwent cochlear implant surgery with her insurer's approval, expecting it would be covered in full. Then she started getting the bills.
Naomi Pomeroy, an award-winning chef who helped put Portland on the map as a culinary destination, was 49 years old.
Here's how much EssilorLuxottica is paying for Supreme, the skate brand with a cult following.
Growing share of Americans say they have skipped medical care or getting prescription drugs because of the cost.
Caitlyn Mai underwent cochlear implant surgery with her insurer's approval, expecting it would be covered in full. Then she started getting the bills.
Gambling ends and the doors close Wednesday at The Mirage, which changed the face of Las Vegas. It's slated to resurface in 2027 as the Hard Rock Las Vegas.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
The FBI is investigating whether the shooter was a politically motivated homegrown domestic violent extremist, and investigators are combing through his background.
Former President Donald Trump looked on Tuesday night as his onetime rivals for the nomination lined up to support him.
Thousands of officers from multiple jurisdictions are in Milwaukee providing additional security for the convention.
Former U.N. Ambassador Nikki Haley and Florida Gov. Ron DeSantis endorsed former President Donald Trump at the Republican National Convention in Milwaukee.
"Donald Trump has my strong endorsement," Nikki Haley said in her speech at the Republican National Convention on the second night of the RNC.
Growing share of Americans say they have skipped medical care or getting prescription drugs because of the cost.
Caitlyn Mai underwent cochlear implant surgery with her insurer's approval, expecting it would be covered in full. Then she started getting the bills.
Amazon's Prime Day, which generated $12.7 billion in sales in 2023, can also lead to more worker injuries, a Senate probe finds.
A new rankings list from U.S. News & World Report aims to highlight the top ranked hospitals for different specialized care needs, from cancer to cardiology.
14 students from a Tokyo high school were rushed to a hospital after eating chips marketed as "so spicy that they might cause you pain."
Britain's King Charles III donned a ceremonial crown and robe to give a speech opening the U.K.'s first left-leaning parliament in 14 years.
President Santiago Peña said the record discovery, code-named "Operation Sweetness," added to a string of "very sad episodes" in Paraguay.
Mayor Anne Hidalgo declare the Seine river "exquisite" after taking a long-promised dip to show its water is safe for the Paris Olympics.
Officials say traces of cyanide were found on 6 people found dead in a Bangkok hotel, with one suspected of murdering the others.
Two U.S. officials say U.S. Central Command has recommended the military permanently dismantle the pier run by the U.S. military to get aid into Gaza amidst the Israel-Hamas war.
The armorer on Alec Baldwin movie "Rust" filed to have her involuntary manslaughter conviction overturned, days after Baldwin's trial over a fatal on-set shooting collapsed due to withheld evidence.
Rain already falls on Venus, but it took more than 14 minutes for Missy Elliott's The Rain (Supa Dupa Fly)" to reach the planet.
After many people criticized Andress' rendition of the National Anthem online, comparing her with Fergie, the singer says she's going to rehab.
Season 26 of the CBS reality TV show "Big Brother" premieres on Wednesday. Sixteen new house guests will compete and strategize to evict one of their own each week to try and be the last person standing. The prize is $750,000. "Entertainment Tonight" host Nischelle Turner visited the house and even entered a one-day competition.
"90210" stars like Jennie Garth and Brian Austin Green paid tribute, and Alyssa Milano commented on her "complicated relationship" with Shannen Doherty.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
Apple users can now download an early version of a new iPhone operating system that will be officially released this fall.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
AT&T on Friday disclosed that hackers had accessed records of calls and texts of "nearly all" its cellular customers for a six-month period between May 1, 2022, and Oct. 31, 2022. Jo Ling Kent reports.
AT&T disclosed yet another major data breach on Friday. The company said a third party illegally downloaded call and text records for nearly all its 109 million customers with accounts between May and October 2022. CBS News senior business and technology correspondent Jo Ling Kent is following this story.
The melting of glaciers and polar ice sheets causes water to move closer to the equator, fattening the planet and slowing its rotation, according to a recent study.
Spade-toothed whales are the world's rarest, with no live sightings ever recorded. Until, perhaps, now. One may have washed up onto a New Zealand beach.
Symptoms among the new bird flu cases included "fever, chills, coughing and sore throat/runny nose," alongside pink eye and eye tearing, a CDC spokesperson confirmed Monday.
The image released Friday depicts two merging galaxies, nicknamed "the Penguin and the Egg," that are about 100,000 light years apart, a surprisingly close distance in astronomical terms.
The 2024 Atlantic hurricane season got off to a deadly start as Hurricane Beryl tore across the Caribbean, Mexico and eventually the U.S.
President Santiago Peña said the record discovery, code-named "Operation Sweetness," added to a string of "very sad episodes" in Paraguay.
The armorer on Alec Baldwin movie "Rust" filed to have her involuntary manslaughter conviction overturned, days after Baldwin's trial over a fatal on-set shooting collapsed due to withheld evidence.
Officials say traces of cyanide were found on 6 people found dead in a Bangkok hotel, with one suspected of murdering the others.
The alleged leader of a violent extremist group plotted to poison children and minorities in New York City, authorities said Tuesday.
Three snipers from local law enforcement were inside the building former President Trump's would-be assassin fired from, and one of them had spotted him outside on three separate occasions prior to the shooting. The sniper took a picture of the gunman nearly 30 minutes before the shooting, when he saw he had a rangefinder. Meg Oliver has more on the investigation.
Rain already falls on Venus, but it took more than 14 minutes for Missy Elliott's The Rain (Supa Dupa Fly)" to reach the planet.
It has been two years since NASA's James Webb telescope gave us a stunning first look at the depth of our universe. To commemorate the achievement, NASA has released new images showing two distant galaxies interacting with each other. Jane Rigby, astrophysicist and a senior project scientist for the Webb telescope at NASA, joins CBS News to discuss.
The image released Friday depicts two merging galaxies, nicknamed "the Penguin and the Egg," that are about 100,000 light years apart, a surprisingly close distance in astronomical terms.
SpaceX's Falcon 9 rocket suffered a catastrophic engine failure as it launched a batch of Starlink satellites into orbit Thursday night, the first time in nearly a decade the rocket has failed. CBS News space consultant Bill Harwood has more on that and the latest images from the James Webb Space Telescope.
The engine failure blamed for stranding 20 Starlink satellites in a low, non-survivable orbit was caused by a liquid oxygen leak.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
In 2020, Scott Pelley reported on the investigation into the downing of Malaysia Airlines Flight 17. The passenger jet was shot down over Ukraine in 2014, killing 298 people. In 2022, a Dutch court found two Russians and one Ukrainian guilty for the shootdown and murder of the passengers and crew.
Lara Trump, who is the co-chair of the Republican National Committee, and is married to former President Donald Trump's son Eric, spoke Tuesday night at the 2024 Republican National Convention. She said she had a "very different" speech planned, but rewrote it in the wake of the attempted assassination of her father-in-law. "Nothing prepares you for a moment like that," she said.
Sen. Marco Rubio of Florida, a top contender for former President Donald Trump's 2024 vice presidential pick, who ultimately wasn't selected, delivered an impassioned speech Tuesday night at the Republican National Convention, arguing for Trump's "America first" agenda. "It is time to put our country and our people first again," Rubio said.
Arkansas Gov. Sarah Huckabee Sanders took the stage on the second night of the Republican National Convention to talk about former President Donald Trump's character, recalling memories from her time as White House press secretary during his administration. She began her speech by addressing the attempted assassination of Trump, saying "not even an assassin's bullet could stop him," then taking a jab at President Biden's age.
The 2024 Republican National Convention is already making its fair share of headlines. CBS News chief political analyst John Dickerson takes a look back at the GOP conventions of elections past, and the defining moments spanning administrations.