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Ocasio-Cortez Blasts Bill That Gives Thousands of Dollars to Most Families as 'Crumbs for Our Families'

Democratic Rep. Alexandria Ocasio-Cortez of New York said Friday lawmakers should be ashamed of themselves for only providing “crumbs” to the American worker in the “phase 3” coronavirus response bill, while spending hundreds of billions of dollars on one of the largest corporate bailouts in the country’s history.

“What did the Senate majority fight for? One of the largest corporate bailouts with as few strings as possible in American history. Shameful,” Oasio-Cortez said.

“The greed of that fight is wrong for crumbs for our families.”

“And the option that we have is to either let them suffer with nothing or to allow this greed and billions of dollars, which will be leveraged into trillions of dollars to contribute to the largest income inequality gap in our future. There should be shame about what was fought for in this bill, and the choices that we have to make,” the self-described “democratic socialist” added.

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The Senate passed the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act on Wednesday unanimously in 96-0 vote.

The House also passed the legislation Friday in a voice vote.

Among other measures, the bill includes $1,200 payments to most American adults, along with $500 per child.

Do you think the federal government is sending "crumbs" to the American people?

Thus, an average family of four would receive $3,400.

The estimated total cost for these payments is $300 billion, NPR reported.

The CARES Act also provides for enhanced unemployment benefits for four months, matching 100 percent of workers’ salaries prior to losing their job.

Unemployment benefits normally consist of a lesser percentage of a worker’s pay, topping out at approximately $700 per week, depending on the state where one resides.

The total cost of benefits going directly to individual American workers through these benefits is estimated to be $260 billion.

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Additionally, the legislation provides $350 billion in small business loans for companies with 500 employees or fewer.

“Any portion of that loan used to maintain payroll, keep workers on the books or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June,” according to NPR.

The CARES Act also includes about $500 billion in loans and grants to major corporations.

Included in this figures is $58 billion for the airline industry, which has been one of the hardest hit by the coronavirus pandemic.

During the White House’s daily coronavirus news briefing on Thursday, President Donald Trump said, “I want to thank Democrats and Republicans in the Senate for unanimously passing the largest financial relief package in American history, 96 to 0.”

“I am profoundly grateful that both parties came together to provide relief for American workers and families in this hour of need,” he added.

Trump noted the legislation includes “critical support for the hardest-hit industries with a ban on corporate stock buybacks and tough new safeguards to prevent executive compensation abuse.”

The president explained on Fox News’ “Hannity” on Thursday night, “A lot of this money is going to save Boeing, it’s going to save the airline industry.”

“In all cases, we intend on getting the money back, getting interest, and in some cases, many cases … we’ll get pieces of the company, large pieces of the company, and that will come back and inure to the benefit of U.S. taxpayers.”

CNN reported the federal government ultimately made a $15.3 billion profit from the $426 billion Troubled Asset Relief Program, which was initiated during the 2008 financial crisis to keep major banks and automakers afloat.

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Randy DeSoto has written more than 1,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




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