Troy Downing: “Waste, fraud, and abuse fundamentally undermine the American people's trust in the government. When well-intentioned…”

“Waste, fraud, and abuse fundamentally undermine the American people's trust in the government. When well-intentioned Federal programs are defrauded by criminal bad actors, taxpayer dollars are wasted, and funding for businesses and individuals in need of this vital support is squandered and stolen. Over the course of the COVID pandemic, the Small Business Administration carried out an extensive effort, channeling funding to small businesses facing unprecedented economic challenges. In total, SBA provided over $1.2 trillion in emergency loans and grants during this period. While COVID-era SBA programs in many cases delivered much-needed emergency aid to small businesses, these programs were sometimes exploited by criminals seeking to defraud American taxpayers and illegally secure illegitimate loans and grants. According to a 2023 report from the SBA's Office of Inspector General, SBA distributed over $200 billion in potentially fraudulent funds in its COVID-era programs. This level of fraud undermines the integrity of the SBA. It is essential that we track these criminal fraudsters down and hold them accountable for their actions.”