Payroll protection loans helped congressional spouses’ workplaces
WASHINGTON — The Paycheck Protection Program isn’t accepting loan applications anymore, but the extent to which members of Congress and their families benefited from it continues to roll in.
The law firm where Rep. Martha Roby’s husband works — and engages in a 401(k) profit sharing plan at the firm worth up to $1.8 million — received a PPP loan between $5 million and $10 million, a CQ Roll Call examination found.
Balch & Bingham LLP, a law firm in Birmingham, Alabama, received millions from the federal government and saved 381 jobs, according to data from the Small Business Administration. Riley W. Roby is a partner based in the firm’s Montgomery office where he focuses on corporate law and matters involving public policy. The loan — issued by BBVA USA — was approved April 5.
Martha Roby, an Alabama Republican, was first elected to the House in 2010 and is not running for reelection.
Conflict of interest prohibitions do not apply to the Paycheck Protection Program, a component of the $2 trillion Coronavirus Aid, Relief and Economic Security, or CARES, Act. As such, members of Congress and their families are allowed to get PPP relief, an effort they helped pass into law.
“Thus, Members or businesses in which Members or certain individuals in their immediate family have an ownership interest may be able to apply for assistance under other parts of the CARES Act, such as the Paycheck Protection Program,” the House Ethics Committee said in April.
The Paycheck Protection Program, which closed Aug. 8 and is no longer accepting applications, was established early on during the coronavirus pandemic to help businesses keep their workers employed during a time of dire financial strain.