Like you, we've been shocked by the speed at which these twin crises have unfolded. We’re currently in the middle of both a public health crisis and an unprecedented economic crisis. At least 10 million people have lost their jobs in just the last few weeks. Many estimates predict we will lose at least 20 million jobs by summer, more than was lost during the entire Great Recession combined.

Those aren't just numbers. We all know people who have been laid off, people who are sick, people who are worried about how they're going to pay their bills next month. Forty years of trickle-down economic policies have left our families and the nation ill-prepared for both the health and economic crises. When so many Americans have been living paycheck to paycheck there is no way to cushion the immediate financial disaster. 

There is only one way to revive the economy: put money in people’s pockets. Taking concrete steps so that everyone can care for and support their families is how we will come out of the national economic crisis. 

Will Congress do that? Or will Congress put big corporations before people and small businesses?

As many of you know, last week Congress passed an initial stimulus package. Congress got it half right. The good part is that they put money in people’s pockets by increasing and extending unemployment insurance, even for people who are self-employed. They are sending checks to families. And they are paying small businesses to keep their employees on payroll and keep making the rent. 

But Congress also bailed out big corporations without requiring them to keep their employees working. These are the same big companies who enriched their CEOs and shareholders during the good times instead of paying their employees well and putting money away for that inevitable rainy day. The only money to corporations should be to keep people on payroll. Period. 

Most economists agree that Congress must do more if we are to avoid a COVID depression. That means requiring corporations who get bail-out money to keep their employees on payroll. It means a huge investment in job-creating infrastructure that will put people to work on clean, renewable energy projects, modernizing schools, upgrading transportation. And it means being sure that every person who loses work keeps getting cash so they can pay their bills.

That’s why we need your help to make sure Congress redoubles their efforts to support everyday people rather than giving handouts to massive corporations. Please, before midnight, will you demand Congress prioritize helping people, small businesses, and families before bailing out corporate fat cats?

We’re working hard to ensure Congress takes the next big steps to avoid a COVID depression. That means more money in peoples’ pockets, putting more people to work. And no corporate bail-outs unless the money is used to keep people on payrolls. We must stop CEOs and shareholders from grabbing a dime. We agree with Elizabeth Warren’s eight conditions for bailouts to large corporations:

"1. Companies must maintain their payrolls and use funds to keep people working or on payroll.
2. Companies must provide a $15 minimum wage as quickly as practicable but no later than one year of the national emergency declaration ending.
3. Companies are permanently prohibited from engaging in share repurchases.
4. Companies are prohibited from paying out dividends or executive bonuses while they are receiving any relief and for three years thereafter.
5. Companies must set aside at least one seat – but potentially two or more, as the amount of relief increases – on the board of directors for representatives elected by workers.
6. Collective bargaining agreements should remain in place and should not be reopened or renegotiated pursuant to this relief program.
7. Corporations must obtain shareholder and board approval for all political expenditures.
8. CEOs must be required to personally certify a company is compliance and face criminal penalties for violating these certifications.”

Our founder, Nick Hanauer, had a clever ninth condition that could help Americans benefit from bailed out corporations’ successes:

That way, Americans won’t just be paying for corporate losses; we’d also benefit from their taxpayer-funded recovery. The point of corporate stimulus is to help everyday Americans, not to enrich CEOs and shareholders. It's better for everyone if we get the average American out and spending money in their communities. If we rebuild this economy from the middle out, we'll be better prepared for the next crisis.

If we’re going to hold our elected officials accountable for addressing the needs of the Americans struggling to get by, one thing is clear: We need everyone speaking out to make sure we help people – not just wealthy corporations. Please, before midnight, will you demand that Congress prioritize helping people, small businesses, and families before bailing out corporate fat cats?

Want to hear more about what we have to say about the public health and economic crisis? Please check out our recent Pitchfork Economics podcast, our recent Facebook livestream, or head over to our blog Civic Skunk Works.