Mike
Well-Known Member
The trucking company that received a $700 million coronavirus relief loan spent $210,000 on lobbyists in the days before it reached an agreement with Treasury on that loan, according to lobbying reports filed with the Senate this week.
The money YRC Worldwide spent on lobbying during the second quarter of 2020 alone was more than three times what it spent on lobbying in 2019 and more than the $140,000 the company spent in 2018 and 2019 combined.
Now, a bipartisan congressional panel is criticizing the loan the company received as part of the $2 trillion coronavirus stimulus law, saying “it is far from clear” that YRC Worldwide is eligible for a lending mechanism originally designed for companies critical to national security, such as Boeing.
In a report released Monday, the Congressional Oversight Commission tasked with overseeing how the federal dollars allocated by the coronavirus stimulus law are spent also questioned the level of risk the government accepted when offering the Overland, Kan., based firm a loan.
www.rollcall.com
The money YRC Worldwide spent on lobbying during the second quarter of 2020 alone was more than three times what it spent on lobbying in 2019 and more than the $140,000 the company spent in 2018 and 2019 combined.
Now, a bipartisan congressional panel is criticizing the loan the company received as part of the $2 trillion coronavirus stimulus law, saying “it is far from clear” that YRC Worldwide is eligible for a lending mechanism originally designed for companies critical to national security, such as Boeing.
In a report released Monday, the Congressional Oversight Commission tasked with overseeing how the federal dollars allocated by the coronavirus stimulus law are spent also questioned the level of risk the government accepted when offering the Overland, Kan., based firm a loan.
Financially strapped trucking firm tripled lobbying days before winning coronavirus relief loan - Roll Call
Trucking firm YRC Worldwide spent $210,000 on lobbyists in the days before it reached an agreement on a $700 million coronavirus relief loan from Treasury.
