Why did Democrats stop the COVID relief bill?
Here’s why:
• The bill includes a $500,000,000,000.00 corporate slush fund for CEOs and the ultra rich — while leaving workers, families and children out to dry.
• The bill has weak stock buyback language that can be waived by the Treasury Secretary; executive compensation limits only last for two years; language on worker retention is weak and includes easy outs for companies; there are no assurances in the language that workers will benefit.
• The bill provides little transparency of the lending done by Treasury (amount and to whom to be hidden for 6 months).
• There are no specific provisions to protect from individuals from eviction, foreclosure or forbearance.
Other Major Problems:
• No money for state and local governments.
• No additional SNAP funds.
• No OSHA language to protect workers.
• No expanded emergency leave provisions.
• Only 3 months on Unemployment Insurance – this is an insufficient length given the scope of the crisis.
• Direct Payments are not available to the millions of people who did not file a return in 2018 or 2019.
• No money to help with the treatment of the uninsured.
• The bill does not provide adequate relief for the 44 million federal student loan borrowers."