Fed report finds 75% of $800 billion Paycheck Protection Program didn't reach employees

–Taxpayers paid $4 for every $1 in wages and benefits received by workers in jobs saved by the federal government’ s pandemic Paycheck Protection Program, according to a new study by the Federal Reserve Bank of St. Louis. The Fed study also found PPP didn’ t support jobs at risk of disappearing, and money flowed disproportionately to wealthier households.