politics
Should Congress Pass Corporate Bailouts?
Mar 24, 2020 at 02:57 AM

The Quick Facts

  • On Sunday and again on Monday, a Republican-backed $1.8 trillion economic stimulus bill was delayed the Senate, largely due to opposition from Democrats. The bill includes, among other things, $58 billion in loans for airlines and about $500 billion in corporate and municipal loans controlled by the Treasury Department.
  • The bill raised memories of the federal government's response to the 2008 financial crisis, including the American Recovery and Reinvestment Act of 2009, the Troubled Asset Relief Program (TARP), and bailouts of major corporations. These corporate bailouts have gained both support and criticism from across the political spectrum.
  • The bill includes other broadly supported actions, such as sending $250 billion in direct payments to households. As negotiations continue, Democrats' main issue is the amount of control the Trump administration would have over $500 billion in corporate and municipal loans.

Food For Thought

Should Congress pass bailouts for corporations in response to the coronavirus-induced economic shock? If not, what should they do instead?

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