Practice English Speaking&Listening with: Rep. Katie Porter: If PPP Isn’t Working, ‘Allocate That $100B Elsewhere’ | Stephanie Ruhle | MSNBC
STOPPED ASKING FOR INFORMATION,
DEMOCRATIC CONGRESSWOMAN OF
CALIFORNIA, KATIE PORTER, WHO
SERVES ON THE FINANCIAL AND
OVERSIGHT COMMITTEES.
CONGRESSWOMAN, YOUR REACTION TO
THE EXTENSION OF THIS PROGRAM?
>> I THINK THE PROBLEM WITH
EXTENDING THE PROGRAM IS THAT WE
DON’T HAVE THE TRANSPARENCY AND
ACCOUNTABILITY TO GO ALONG WITH
IT, SOMETHING THAT THE SENATE
COULD HAVE BAKED INTO THE BILL,
WHICH WOULD HAVE GIVEN US A
BACKSTOP IF SECRETARY MNUCHIN
MISSES HIS DEADLINE OF TOMORROW
OR WHEN HE DOES PROVIDE THE
INFORMATION, WE FIND THAT IT’S
INCOMPLETE OR PROVIDED IN A WAY
THAT PREVENTS US FROM ANALYZING
IT TO MAKE SURE THAT TAXPAYERS
ARE PROTECTED.
>> SO, RIGHT THERE.
IF THEY COULD TAKE THE TIME TO
EXTEND THIS PROGRAM AND AGREE
UPON IT, WHAT’S THE RATIONALE
WITH NOT SHARING MORE
INFORMATION?
>> I THINK IT’S CONSISTENT WITH
WHAT WE’VE SEEN ON THIS
ADMINISTRATION WITH RESISTANCE
TO TRANSPARENCY INSPECTOR
GENERALS AND PEOPLE WHO ACTED IN
A NONPARTISAN WAY TO PROTECT
TAXPAYERS.
IT PLANTS QUESTIONS IN THE MINDS
OF AMERICANS AND YOU AND I
ALREADY HAVE A LOT OF QUESTIONS.
IT CONTINUES TO PLANT QUESTIONS
IN THE MINDS OF AMERICANS ABOUT
WHETHER THIS PPP PROGRAM WAS
ADMINISTERED FAIRLY AND BEYOND
ALL THE ISSUES OF ABUSE AND
FRAUD AND WASTE, THERE’S ALSO
THIS FUNDAMENTAL QUESTION ABOUT
IS THIS PROGRAM WORKING?
BECAUSE IF IT’S NOT WORKING, WE
NEED TO ALLOCATE THAT $100
BILLION STRUGGLING TO FIGURE OU
THEY’RE GOING TO OPEN IN THE
FALL, WHICH IS A BIG PART OF
OPENING OUR ECONOMY, WOULD BE A
GREAT EXAMPLE OF A PLACE THAT WE
COULD REALLOCATE THAT MONEY IF
THE PPP IS NOT WORKING.
BUT WE JUST CAN’T ANSWER THAT
QUESTION.
>> EVEN THE TRANSPARENCY THAT
SUPPOSEDLY WERE GOING TO GET IS
ONLY FOR LOANS OF 150 GRAND OR
MORE.
AND I GET IT, THIS IS A LOT OF
MONEY, BUT ARE WE JUST SAYING WE
DON’T NEED TO SEE ANY OF THE
SMALLER ONES?
THIS IS TAXPAYER MONEY.
WHY WOULDN’T WE SEE THE
INFORMATION ON EVERY SINGLE
LOAN?
>> SO, STEPHANIE, I COULD NOT
AGREE WITH YOU MORE.
WHAT WE LEARNED IS THAT
SECRETARY MNUCHIN HAS SAID HE
WILL GIVE DATA ON EVERY SINGLE
LOAN TO THE HOUSE WAYS AND MEANS
COMMITTEE.
NOW, I DON’T SIT ON THAT
COMMITTEE.
BUT YOU CAN BET I GOT ABSOLUTELY
SIX FEET AND ZERO INCHES FROM
COMMITTEE CHAIRMAN RICHEY NEIL
THE OTHER DAY ASKING HIM TO GIVE
THE DATA TO ANY MEMBER OF
CONGRESS WHO WANTS TO DO THIS
WORK, WHO WANTS TO DO THE
ANALYSIS, WHO WANTS TO DIG INTO
THESE DATA BECAUSE I CERTAINLY
AM RAISING MY HAND WANTING TO DO
THAT WORK.
TOMORROW IS THE DEADLINE.
SO TICKTOCK, STEVE MNUCHIN.
>> YOU’RE ALSO RAISING YOUR HAND
TO ASK QUESTIONS WHEN SECRETARY
MNUCHIN SPEAKS BEFORE THE FULL
FINANCIAL SERVICES COMMITTEE.
AND SOMEHOW THEY NEVER GET TO
YOUR QUESTIONS.
WHY IS THAT?
YOU’RE NOT GOING TO STOP ASKING
THEM.
AND BY HIM NOT ANSWERING, HE’S
MAKING ANOTHER NEWS STORY FOR
HIMSELF.
>> WELL, SO WHAT HAPPENS IS THE
SECRETARY SETS A DEADLINE FOR
WHEN HE’S GOING TO LEAVE THE
HEARING.
HE’S ONLY AVAILABLE FOR TWO
HOURS, FOR EXAMPLE, AND I’M
ABOUT HALFWAY THROUGH THE
SENIORITY OF THE COMMITTEE.
BUT ALL OF THE MEMBERS WHO ARE
ELECTED IN 2016, 2014, 2012,
GOING BACK TO THE 1980s, THOSE
MEMBERS GET TO QUESTION FIRST.
SO WE GO IN SENIORITY ORDER,
EVEN THOUGH I’M ONE OF THE MOST
SENIOR FRESHMEN, HE NEVER SEEMS
TO STAY QUITE LONG ENOUGH TO GET
TO MY QUESTIONS.
THIS HAS HAPPENED A COUPLE OF
TIMES.
>> WELL, SOUNDS LIKE SOME OF THE
MORE SENIOR MEMBERS MIGHT WANT
TO GIVE YOU THEIR QUESTION TO
ASK.
YOU ALSO TWEETED THAT YOU WANT
THE CURRENT ADMINISTRATEOR OF TH
SBA TO RESIGN.
WHY?
>> THE REPORT FROM THE GAO ABOUT
THE ADMINISTRATOR AND WHAT SHE
HAS REFUSED TO DO, UPON GAO’S
REPEATED REQUESTS WITH REGARD TO
TRANSPARENCY SHOWS ME SHE IS
UNFIT TO CONTINUE IN THAT ROLE.
THE PPP PROGRAM, THAT $650
BILLION, THIS IS ONE OF THE
BIGGEST GOVERNMENT PROGRAMS IN
OUR COUNTRY’S HISTORY, AND SHE
IS FIGHTING WITH THE NONPARTISAN
GAO ON BASIC DATA THAT LETS THEM
DO THEIR JOB OF TRANSPARENCY AND
ACCOUNTABILITY.
THAT IS THE WRONG MINDSET FOR
SOMEBODY WHOSE TITLE IS
ADMINISTRATOR.
>> SHOULD DEMOCRATIC LEADERSHIP
BE DEMANDING MORE?
>> LOOK, I’M GOING TO KEEP
LEADING BY EXAMPLE AND TRYING TO
PUSH ON THESE ISSUES, I HOPE MY
COLLEAGUES JOIN IN WITH ME.
I HAVE A PPP TRANSPARENCY BILL,
30 COLLEAGUES ON IT AS OF TODAY
AND ONE OF MY PROJECTS IS TO
CONTINUE TO WHIP AND PUSH PEOPLE
BECAUSE EVEN IF MNUCHIN GIVES US
SOME OF THE DATA, WE NEED TO BE
ACTING LEGISLATIVELY TO ENSURE
WE’RE GOING TO HAVE THE
INFORMATION THROUGHOUT THE
PROGRAM.
LET’S SAY WE MAKE ANOTHER 100
BILLION PLUS IN LOANS, BECAUSE
OF THE EXTENSION, THERE IS
NOTHING TO WRITER STEVE MUNCHEN
