The Republican bill would cap executive pay at bailed-out firms, while also allowing the government to take ownership stakes. Democrats are pushing for more restrictions.
The Senate GOP coronavirus bill would cap executive pay at bailed-out firms, while also allowing the government to take ownership stakes.
US Senate Majority Leader Mitch McConnell, Republican of Kentucky, holds a press briefing about legislation in response to the novel coronavirus, COVID-19, at the US Capitol in Washington, DC, March 17, 2020.Executives at companies that would receive bailout cash from the coronavirus-relief bill unveiled by Senate Republicans on Thursday would see their annual compensation capped at $425,000 for two years.
Senate Republicans now must negotiate the terms of the final bill with their Democratic counterparts, as well as with lawmakers in the Democratic-controlled House. Politicians on both sides of the aisle have acknowledged a need to offer aid to industries like the airlines, for fear their fall would eliminate jobs for thousands of workers. But Democrats have warned against any corporate aid that appears to be lining the pockets of executives. Republicans have worried about the appearance of flagrant spending.
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