Millions may now lose their jobs. And Trump wants our response to be a half-trillion dollar slush fund to boost favored companies and corporate executives – while they continue to pull down huge paychecks and fire their workers. Here’s what I know and how we stop it:
I’m hearing that this so-called “deal” will include $450B for Trump to dole out to companies with:
-No meaningful requirement that companies maintain payroll or benefits
-No serious restrictions on stock buybacks
-No requirements to reduce executive pay
-No ongoing oversight
-No meaningful requirement that companies maintain payroll or benefits
-No serious restrictions on stock buybacks
-No requirements to reduce executive pay
-No ongoing oversight
It even sounds like Trump hotel properties like Mar-a-Largo could receive huge bags of cash – and then fire their workers – if Steve Mnuchin decides to do a solid for his boss with taxpayer dollars.
This is a critical moment. I saw up close the consequences of what Congress did in 2008. The current Trump proposal is far worse than the worst critique of Bush’s 2008 bank bailout. And it makes no long-term changes to make future bailouts less likely.
This isn’t hard. Any big company that needs support must put its workers first and make serious, long-term changes to reduce the odds they ever need another bailout. Here are eight requirements for any bailouts. You can read them here: usatoday.com/story/opinion/…
I will vote against a giant slush fund that protects favored corporations and executive paychecks with no meaningful protections for workers. If this isn’t fixed, all Democrats should all stand together and vote no. We maintain our negotiating power when we unite together.
I have called for a grassroots stimulus to actually provide immediate, direct, and sustained relief to families. It has a lot of pieces like paid family leave, student loan debt cancellation, and Social Security benefits. You can read more here: cnn.com/2020/03/16/opi…
The health and security of all Americans must be the priority, not coddling CEOs. Democrats must fight for more testing. For hospitals. For workers. For direct relief to families. And for accountability from an administration that has bungled its response from the start.
