What went wrong: The Paycheck Protection Program, which “spent vastly more money than the number of jobs it saved,” according to a new report from the National Bureau of Economic Research, has more than $125 billion in funds left over.

Business owners complained that the restrictions were overly burdensome, and data show the funds largely did not go to states, industries and communities that most needed the money.

Additionally, more than 90% of the government’s $500 billion loan program for larger companies remains untapped.

GOP aides said the mistake that sent $1.4 billion in stimulus funds to dead people appeared to be a bureaucratic mixup by the Internal Revenue Service rather than a policy problem that Congress needs to fix.