Congressional Report Highlights Problems with Yellow Corp.'s $700 Million Loan

American PoliticsHot SpotsLeases & LoansMoney MattersCovid-19
Written By Jennifer Joslyn

A Congressional report released on Tuesday revealed significant problems with the Treasury Department's $700 million loan to Yellow Corp. as part of a COVID-19 relief program in 2020. The report recommends that the government sell its shares of Yellow stock and its loan holdings, citing risks to taxpayers. The report questions whether Yellow should have been eligible for the loan and raises concerns about the company's financial position and spending on congressional lobbying. Yellow Corp. defended the loan, stating that it helped maintain critical operations during the pandemic.

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Jennifer Joslyn
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