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Monday, March 30th, 2020

The Senate Has Passed the Largest Corporate Bailout in US History

Author:     Jake Johnson
Source:     truthout/Common Dreams
Publication Date:     March 26, 2020
 Link: The Senate Has Passed the Largest Corporate Bailout in US History
Stephan:   If you listen to the news what you hear is that the recent legislation passed in the Senate is about helping ordinary people, and it does that although not adequately, as the coming days will demonstrate. That was the price to get Democrats to vote for it. But that isn't what this bill is really about. Its real function is to protect the neoliberal economy, and the vampire capitalism of American corporations. Here are the details.

Senate Majority leader and principal Trump goblin Mitch McConnell
Credit: Win McNamee/Getty

By a vote of 96-0, the United States Senate Wednesday night passed an enormous coronavirus stimulus package that would provide some desperately needed economic relief to struggling workers and the unemployed while establishing a $4.5 trillion fund to bail out large corporations — with little to no enforceable restrictions.

Progressives didn’t mince words in response to the unanimous vote, which sends the largest bailout legislation in U.S. history to the Democrat-controlled House of Representatives, where it could pass as early as Friday before heading to President Donald Trump’s desk for his signature.

“We oppose the Senate’s looting of America by big corporations,” the Progressive Change Campaign Committee (PCCC) said in a statement. “Over and over, the American people are told there is ‘no money’ — for student debt relief, for Medicare for All, for a Green New Deal, to create millions of jobs and save our planet. And now, at the moment when the American people are most in need, our coffers are […]

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