Working families are often told that they should keep at least three months of savings on hand for a rainy day. When you’re making minimum wage, that’s a lot easier said than done.

And now in the COVID-19 crisis, we’re learning that there’s a double standard at play here. Many major companies didn’t even have three weeks of savings on hand to cover payroll, let alone three months.

Yet, some of these very same companies were spending millions on stock buybacks instead of saving up for an economic downturn. Now, we have to pick up the bill.

If we bail these companies out, then we need to be sure that they don’t turn around in good times and only reward their stockholders. Sign your name to join our call to ban stock buybacks.

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Our relief bill already prohibits companies from using taxpayer money for stock buybacks. But when all of this is over, they’re still allowed to direct cash towards buybacks instead of building a payroll reserve.

Boeing spent over $43 billion on buybacks over the last 10 years. That’s money going mostly to wealthy stockholders, not investing in their workers.

Let’s make sure we don’t repeat the mistakes of the past. Sign your name to join our call to ban corporate stock buybacks.

Thanks for taking action today,

Ro Khanna

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