The White House on Sunday reportedly refused to back down from its demand that a coronavirus relief package include $500 billion, which would be provided to corporations at the discretion of Treasury Secretary Steve Mnuchin.
PBS News Hour correspondent Meredith Lee reported on Sunday that the White House was standing firm on the proposal after some Democrats called it a "slush fund."
A Democratic source told Igor Bobic that the bill would permit the Treasury secretary to withhold the names of corporate recipients for up to six months.
"Millions may now lose their jobs," Sen. Elizabeth Warren wrote on Twitter. "And Trump wants our response to be a half-trillion dollar slush fund to boost favored companies and corporate executives – while they continue to pull down huge paychecks and fire their workers."
Read some of the tweets below.
From a senior WH official on phase 3 stimulus plan:
-WH *is not* willing to reduce amt of $ for corporate loans (up to$500B in current bill, Dems have criticized as "corporate slush fund")
-working w/ Senate Dems to "refine ideas,"push ahead w/ McConnell's bill for 3pm cloture— Meredith Lee (@meredithllee) March 22, 2020
Any rescue fund should be administered by an independent body, not by the Treasury Secretary of the most incompetent and corrupt administration in US history.
President Trump has already taken millions from the Treasury. Not a dollar more without total financial disclosure— David Frum (@davidfrum) March 22, 2020
We have to be very careful about federal govt taking extraordinary power for means other than the pandemic. Justice Dept. looking to take over the judicial system. Treasury asking for a slush fund to help companies at their discretion. Watch them closely now.
— Joe Lockhart (@joelockhart) March 22, 2020
No slush fund for Mnuchin! Last time he made decisions without congressional oversight we got Suicide Squad! https://t.co/oqTR0eLExI
— Jon Lovett (@jonlovett) March 22, 2020
per a Dem source, a provision of the $500B bailout fund proposed by GOP would allow Mnuchin to delay making public for up to 6 months “names of applicable eligible businesses, States, and municipalities and the amounts of individual loans or loan guarantees”
— Igor Bobic (@igorbobic) March 22, 2020
Republicans should be smart here and recognize that it’s in their interests to do a good bill and not just a slush fund for Trump to give it to whoever bribes him the most.
— Matthew Yglesias (@mattyglesias) March 22, 2020
Millions may now lose their jobs. And Trump wants our response to be a half-trillion dollar slush fund to boost favored companies and corporate executives – while they continue to pull down huge paychecks and fire their workers. Here’s what I know and how we stop it:
— Elizabeth Warren (@SenWarren) March 22, 2020
I will vote against a giant slush fund that protects favored corporations and executive paychecks with no meaningful protections for workers. If this isn’t fixed, all Democrats should all stand together and vote no. We maintain our negotiating power when we unite together.
— Elizabeth Warren (@SenWarren) March 22, 2020
Massive slush fund for corporations while failing to help hospitals Hospital or provide paid leave for workers would be a disaster not a relief bill. No. Just no. https://t.co/kngzFGUui4
— Ilya Sheyman (@iSheyman) March 22, 2020
Everything that has happened for the last 3 yearsd shows that Trump would use a corporate slush fund to reward his friends and punish his enemies. There will be no oversight or transparency because the Treasury Department will defy subpoenas for documents and witnesses.
— Dan Pfeiffer (@danpfeiffer) March 22, 2020
