$500 billion Treasury fund has disbursed limited aid, report finds

A congressional report found that the Treasury Department had spent very little of a $500 billion emergency pandemic fund.

The money was set aside by the CARES Act in March to help businesses and local governments, the Washington Post reports.

The Congressional Oversight Commission was created to oversee the spending of the $500 billion and issued its first report Monday.

The report said that only one of the lending facilities set up has received funding.

Also, $46 billion in loans and loan guarantees set aside for the airline industry have yet to be disbursed.

The Main Street Lending Program, established to assist small businesses, has not launched, and the terms are already changing.

Aside from the $500 billion fund, the Treasury Department has sent to checks to individual Americans to aid in unemployment benefits.


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