Sen. Elizabeth Warren wants companies hit hard by the Coronavirus pandemic to get government bailouts if the businesses accept eight conditions in order to secure taxpayer help.
The eight conditions are:
- Companies must maintain payrolls.
- Businesses must provide $15 an hour minimum wage quickly.
- Companies would be permanently banned from engaging in stock buybacks.
- Companies would be barred from paying out dividends or executive bonuses while they receive federal funds and the ban would be in place for three years.
- Businesses would have to provide at least one seat to workers on their board of directors, though it could be more depending on size of the rescue package.
- Collective bargaining agreements must remain in place.
- Corporate boards must get shareholder approval for all political spending.