A new advertisement from an anti-President Trump group, the Lincoln Project, has been labeled “misleading” by independent fact-checker Politifact.
Politifact said the video titled, “Mourning in America,” claims Trump used the coronavirus recovery to benefit Wall Street (the wealthy) while neglecting Main Street (or everyday Americans)—but this is not true.
The fact-checker said the claim was “inaccurate” and unfairly says Trump was to blame for an economic package that overwhelmingly and bipartisanly cleared both chambers of Congress.
• It’s wrong to say that coronavirus relief legislation didn’t support ordinary small businesses. The CARES Act included the Paycheck Protection Program, which was designed to support smaller employers.
• Among the loans made with the first $350 billion of the Paycheck Protection Program, three-quarters of those loans were made in the smallest loan size category, one that would support a business of roughly seven to 10 people.
• In addition, singling out Trump for problems with how coronavirus relief efforts ignores that the efforts were also backed by virtually all congressional Democrats.
Politifact adds: “The $2.2 trillion act, which Trump signed into law on March 27, 2020, included stimulus payments to most Americans, enhanced unemployment aid, loans for small businesses, and other relief measures. However, before it got to Trump’s desk, the bill had the support of both parties. It passed the Senate unanimously, and it passed the House overwhelmingly.”
The Paycheck Protection Program, a key focus of the package, sent hundreds of billions of dollars to small and large businesses alike. These funds then, in turn, helped millions of working-class Americans.
— Alex Griswold (@HashtagGriswold) May 8, 2020
The clearest problem with the claim is the notion in the ad that “Main Street” is not being aided. About three-quarters of the loans in the Paycheck Protection Program were made in the smallest loan size category, one that would support a business of roughly seven to 10 people.
We rate the statement False.