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Media Matters: Mainstream outlets are using Republican talking points to frame their coverage of the coronavirus response billThe New York Times and The Washington Post borrow GOP framing to dump on Senate Democrats, ignoring important context
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At the heart of the impasse is a $425 billion fund created by the bill that the Federal Reserve could leverage for loans to assist broad groups of distressed companies, and an additional $75 billion it would provide for industry-specific loans. Democrats have raised concerns that the funds do not have rules for transparency or enough guardrails to make sure companies do not use the funds to enrich themselves or take government money and lay off workers. They also argue the measure would give [Treasury Secretary Steve] Mnuchin too much discretion to decide which companies receive the funds, calling the proposal a “slush fund” for the administration.As the legislation is currently written, Mr. Mnuchin would not have to disclose the recipients until six months after the loans were disbursed. Some Democrats also objected to loopholes in the legislation they said could allow Mr. Trump’s real estate empire to take advantage of the federal aid.The Democratic leader told reporters shortly after midnight that the bill as currently written would give bailouts to major corporations without accountability and that it would not provide enough funding to health care workers on the front lines.
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