Robert Reich, the Secretary of Labor under Bill Clinton and one of the leading progressives, gets it right on the GOP bailout bill trainwreck.
Few articles or posts captures the essence of what is so wrong with the bill that is little more than another giveaway to corporations at the expense of taxpayers.
Reich gets to the essence of it all, showing in clear numbers what the GOP is trying to squeeze through Congress and what is needed instead.
“The disastrous Senate GOP bill:
— Creates a $500,000,000,000 slush fund for corporations that *only* Treasury Secretary Steve Mnuchin has control over
— Doesn’t require reporting of recipients for six months
— Provides no guarantee that Trump’s own businesses won’t benefit
— Has no worker protections and only one weak restriction on executive bonuses
— Provides only a one-time $1200 check and just $600 for those who need it most
Don’t listen to the pundits trying to spin this as a ‘partisan battle’. Senate Democrats were absolutely right to hold the line and reject this corporate bailout.
Instead of a $500 billion blank check to corporations, here’s what should be in the Senate bill:
— $2000 every two weeks to every adult for at least two months
— Universal unemployment insurance, with checks sent to *everyone* as early as next week
— Subsidize the states so they can get the unemployment checks out immediately
— Expanded Medicaid so that anybody who needs to go to the hospital is covered
— Money to help hospitals buy masks, ICUs, and ventilators
Don’t believe anybody who says this is complicated. Bail out people, not corporations.”