IMMEDIATE ADOPTION
Number
200348
Version
ORIGINAL
Reference
180898
Sponsor
ALD. RAINEY, KOVAC, LEWIS AND JOHNSON
Title
Substitute resolution urging the federal government to disclose the identities of the recipients of the taxpayer-funded coronavirus business loans.
Analysis
This resolution urges the federal government to disclose the identities of the recipients of the taxpayer-funded coronavirus business loans.
Body
Whereas, U.S. Treasury Secretary Steven Mnuchin has refused to disclose recipients of the taxpayer-funded $600-billion-plus coronavirus business loans; and
Whereas, Many lawmakers and members of the public view the claim that the information is confidential as an attempt to dodge accountability for how the money is spent; and
Whereas, Businesses struggled to obtain loans in the early weeks of the program; and
Whereas, Several hundred publicly-traded companies received loans despite their likely ability to get the money from private financial sources; and
Whereas, Due to public scrutiny, some big corporations have stated they would return their loans; and
Whereas, The loans may be forgiven if businesses use the only to keep employees on payroll or rehire workers who have been laid off; and
Whereas, It is imperative for taxpayers to know whether the money is going where Congress intended to small businesses; and
Whereas, The administration’s resistance to transparency raises suspicions regarding how the funds are being distributed and who are benefitting from them; and
Whereas, Nearly a dozen news organizations sued the U.S. Small Business Administration in federal court for not having released the loan data despite several requests under the Freedom of Information Act; and
Whereas, Taxpayers have a right to information regarding the way their money is spent; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the federal government is urged to disclose the identities of the recipients of the taxpayer-funded coronavirus business loan; and, be it
Further Resolved, That the City Clerk shall send copies of this resolution to the City’s Congressional delegation; and, be it
Further Resolved, That File Number 180898 is amended by inserting the following item in the document attached to the file and identified as “AMENDED 2019-2020 State Legislative Detailed Proposals and Key Issues”:
|
Health & Safety |
Common Council |
Disclose the identities of the recipients of the taxpayer-funded coronavirus business loans. |
.
Requestor
Drafter
LRB 176182-1
Tea B. Norfolk
6/23/2020