Axios Pro Rata: Mnuchin on the PPP's legacy
Plus, rock-picking robots and SPACs top $100 billion. | Thursday, May 27, 2021 Open in app View in browser Presented By ProEdge, a PwC Product Pro Rata By Dan Primack · May 27, 2021 Top of the Morning Illustration: Sarah Grillo/Axios Former Treasury Secretary Steven Mnuchin says that we'll never really know how many jobs, or small businesses, were saved by the Paycheck Protection Program. Why it matters: The SBA claimed last summer that the pandemic-promoted program, which provided forgivable loans to qualifying small businesses, saved 51 million jobs. Some academic studies put the number much lower, including one from MIT that put the figure closer to 3 million. "In normal times, economic modeling is a great science," Mnuchin tells me, in a new "Axios Re:Cap" e...