A massive coronavirus stimulus plan that the Senate and White House agreed to in the early hours of Wednesday morning would bar any companies owned or controlled by President Donald Trump, the president’s children, Vice President Mike Pence, or members of Congress from receiving any taxpayer bailout money, according to a summary of the legislation circulated by Senate Minority Leader Chuck Schumer.
The sprawling $2 trillion bill, which has not yet been released in full, would “prohibit businesses controlled by the president, vice president, members of Congress, and heads of executive departments from receiving loans or investments from Treasury programs,” Schumer’s summary states.
“The children, spouses, and in-laws of the aforementioned principals are also included in this prohibition,” the document adds.
Trump in recent days has voiced his desire for the hotel industry to be among the corporate beneficiaries of any congressional stimulus legislation and — after being pressed repeatedly by reporters — has refused to vow that his own companies would not receive money from any taxpayer bailout programs.
The president also asserted that he will personally oversee the corporate bailout funds. “We’re going to make good deals,” Trump said during a press briefing on Monday.
“Several Trump-branded properties have been affected by the virus-induced demand crash, as well as state and local restrictions on going out in public,” Bloomberg reported Wednesday morning.
REPORTER: Will you commit that no money from the emergency stimulus bill will go to your own properties?
TRUMP: "I have no idea what they're talking about. Everything is changing. But I have no idea … let's just see what happens."
(That's definitely not a yes!) pic.twitter.com/PoMw96bFAi
— Aaron Rupar (@atrupar) March 22, 2020
Senate Democrats earlier this week stopped the GOP’s efforts to advance an earlier version of the stimulus bill in an effort to extract concessions from the White House and Senate Republicans, who Democrats accused of attempting to force through a corporate “slush fund” with little regard for workers.
In negotiations with Senate Republicans and Trump administration officials, Democrats reportedly won inclusion of a significant boost in unemployment benefits (which would also be extended to gig workers), more money for hospitals, and independent oversight of a $500 billion corporate loan fund that the legislation would establish.
As the heated talks over the stimulus bill progressed Tuesday, progressive lawmakers expressed concerns about the enormous legislative package, which could hit the Senate floor for a vote as soon as Wednesday afternoon.
“The developments of this Senate relief bill are concerning,” Rep. Alexandria Ocasio-Cortez (D-N.Y.) tweeted Tuesday afternoon, before the Senate agreement was finalized. “We are hearing lots of vague statements, but not a single member of Congress has seen actual bill text. It seems to give a *HALF TRILLION DOLLARS* away to big corporations, with few worker protections. Half a trillion.”
With the House out of session and lawmakers wary of returning to Capitol Hill amid the coronavirus outbreak, House Speaker Nancy Pelosi (D-Calif.) is expected to attempt to pass the Senate bill by unanimous consent, which requires the agreement of every member.
“If unanimous consent is not possible,” the Washington Post reported, “aides of both parties said the most likely scenario would be a day-long vote where members would be encouraged to spread out their trips to the floor and not congregate as the vote is taken.”
We’re not backing down in the face of Trump’s threats.
As Donald Trump is inaugurated a second time, independent media organizations are faced with urgent mandates: Tell the truth more loudly than ever before. Do that work even as our standard modes of distribution (such as social media platforms) are being manipulated and curtailed by forces of fascist repression and ruthless capitalism. Do that work even as journalism and journalists face targeted attacks, including from the government itself. And do that work in community, never forgetting that we’re not shouting into a faceless void – we’re reaching out to real people amid a life-threatening political climate.
Our task is formidable, and it requires us to ground ourselves in our principles, remind ourselves of our utility, dig in and commit.
As a dizzying number of corporate news organizations – either through need or greed – rush to implement new ways to further monetize their content, and others acquiesce to Trump’s wishes, now is a time for movement media-makers to double down on community-first models.
At Truthout, we are reaffirming our commitments on this front: We won’t run ads or have a paywall because we believe that everyone should have access to information, and that access should exist without barriers and free of distractions from craven corporate interests. We recognize the implications for democracy when information-seekers click a link only to find the article trapped behind a paywall or buried on a page with dozens of invasive ads. The laws of capitalism dictate an unending increase in monetization, and much of the media simply follows those laws. Truthout and many of our peers are dedicating ourselves to following other paths – a commitment which feels vital in a moment when corporations are evermore overtly embedded in government.
Over 80 percent of Truthout‘s funding comes from small individual donations from our community of readers, and the remaining 20 percent comes from a handful of social justice-oriented foundations. Over a third of our total budget is supported by recurring monthly donors, many of whom give because they want to help us keep Truthout barrier-free for everyone.
You can help by giving today. Whether you can make a small monthly donation or a larger gift, Truthout only works with your support.