U.S. Treasury Secretary Reaffirms PPP Borrowers Names Will Remain Confidential
June 15, 2020
Treasury Secretary Steven Mnuchin said last week during a U.S. Senate Small Business Committee hearing that the administration does not plan to release the names of borrowers or the amounts received under the PPP because this information is “proprietary” and “confidential.”
Treasury has taken this position even though PPP loan applications state that this information will be released “automatically,” and the Small Business Administration website calls it public records.
Capital Gains Tax
Meanwhile, Treasury Secretary Steven Mnuchin downplayed the likelihood of a capital gains tax cut any time soon, saying “it doesn’t appear necessary in current efforts to revive the economy.”