Heritage Experts: CARES Act Bailouts Miss Targeted, Temporary

Objective

 

WASHINGTON – Yesterday, Senate Republicans released the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Heritage Foundation analysis of the stimulus package revealed:

“Any action that Congress takes should be targeted, temporary, and linked directly to the coronavirus epidemic in order to address the source of the economic shock while limiting any political abuse that can develop in a moment of crisis. Unfortunately, the Senate’s coronavirus bill, the Coronavirus Aid, Relief, and Economic Security Act misses this mark by including special benefits to specific industries that will exceed $200 billion.”

Recommendations to Get Aid Directly to Workers & Avoid Bailouts:

• Direct relief for workers should be limited that those immediately affected by the crisis
• Expand rapid and targeted paid sick and family leave assistance to employers with 500 and wore workers
• Waive required minimum distribution rules
• Allow the federal government to pre-purchase expected goods and services to supply businesses with liquidity, not bailouts
• Replace $200 billion in bailouts with policies to help all companies or provide significant reform so as to limit abuse