Vice President JD Vance announced that approximately 870,000 people will be permanently suspended from receiving future federal loans, describing the move as part of the administration’s broader effort to combat fraud involving taxpayer-funded programs. (SBA)

Vance credited Kelly Loeffler with taking a leading role in the administration’s anti-fraud efforts.

“Under the leadership of Kelly Loeffler, who by the way has been an amazing advocate for the American people, has probably been the most zealous anti-fraud person in the entire administration, we are going to suspend 870,000 people permanently, people who defrauded the government over the last couple of years, the last couple of decades,” Vance said.

The vice president said those affected by the action will no longer be permitted to receive loans from the federal government.

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“We're going to make it impossible for them to get loans from the federal government,” Vance said.

Vance pointed specifically to the Paycheck Protection Program while explaining the reasoning behind the action.

The program was established during President Donald Trump’s first administration as businesses and workers dealt with the COVID pandemic and government responses to it.

“If you think about the PPP program, which was set up by Congress and by the administration during the first Trump administration to ensure that our small businesses were able to operate in the incredibly challenging environment that was created by the COVID pandemic, and of course by the state government response to the COVID pandemic, what we did is we created a program to ensure that small businesses were able to operate and, importantly, American workers were able to be supported,” Vance said.

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Vance said some people exploited programs intended to help businesses and workers.

“But as happens with so many of the the programs that are born out of the generosity of the American taxpayer, we had many, many people who took advantage of those programs,” Vance said.

“People who decided to steal from the American taxpayer, steal money that was supposed to go to small businesses and American workers.”

Vance argued that people caught taking taxpayer money should subsequently lose access to federal loans.

“Well, we think it makes sense that if you were caught stealing from the American taxpayer, you shouldn't be able to benefit from these loans anymore,” Vance said.

He then detailed the consequences for those covered by the suspensions.

“So we're going to suspend about 870,000 people from being able to access these funds in the future and from being able to borrow money from the American taxpayer,” Vance said.

“If you screwed the American taxpayer, the federal government is now going to say you're cut off, no more, you shouldn't be applying anymore, and if you do apply, you're no longer able to get those benefits.”

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Vance also addressed the administration’s recent enforcement efforts, saying nearly 90 prosecutorial decisions had been made during the previous three months.

“Just the last 3 months, we have taken close to 90 prosecutorial decisions that are making clear and sending a message to the fraudsters that if you defraud the American people, if you steal money from the American taxpayer that should go to American workers, we're actually going to prosecute you and we're going to try to send you to prison,” Vance said.

The vice president framed the issue around taxpayers having confidence that money sent to the federal government is distributed according to the law.

“I think the American people have every right to expect that when they write the check to the IRS, when they write a check to the federal government, that money is going to go where the law says that it should go and not to fraudsters,” Vance said.

Vance said the administration is taking multiple steps aimed at protecting federal funds and ensuring that money reaches people legally entitled to receive it.

“We're taking a number of actions here today to ensure exactly that happens to the American people,” Vance said.

“We want to protect your money. We want to ensure that your generosity goes to the legally entitled recipients and not to fraudsters.”

Vance concluded by directing a message at congressional Democrats, calling on them to support the administration’s anti-fraud campaign.

“And to congressional Democrats, I'd say, we'd love to have your help,” Vance said.

“Why don't you guys support our efforts to fight fraud instead of making it harder for us to fight fraud?”

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