This is my commitment to workers...
March 18, 2020
Yesterday, I shared my plan for economic stabilization and recovery to help families and small- and medium-sized businesses in our community. Central to this plan is my commitment to avoid repeating the mistakes of the past by giving away money to those who need help the least and enriching those at the top.
As I work with congressional leadership to enact a comprehensive package that quickly provides direct relief to millions of Americans, I am also working with my colleague, Rep. Peter DeFazio, to ensure that any assistance puts workers first and includes corporate accountability protections. Any legislation must include appropriate worker protections, including:
- Workers must remain employed and continue to be paid: Any federal assistance must be used to maintain workers’ employment and pay, without any concessions on wages or benefits;
- Bans on stock buybacks and excessive executive or shareholder compensation: Federal funds should not be used to reward shareholders or pay executive bonuses;
- Caps on senior executive pay: No corporate executives should make more than 50 times the pay of their median worker if they receive federal assistance;
- Corporate boards include workers: Corporations receiving federal assistance must reserve at least one spot on their board for workers; and
- Taxpayers have equity in the company: Taxpayers should receive equity in a company in return for assistance so that the public benefits from its investment when the company is fiscally stable.
- We will get through this challenging time but we have a choice of how we do it: will we prioritize workers and families or will we prioritize shareholders and executives?
I am putting workers and families first.