This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.nytimes.com/2020/04/05/us/politics/democrats-mnuchin-airline-bailout-coronavirus.html
The article has changed 25 times. There is an RSS feed of changes available.
| Version 8 | Version 9 |
|---|---|
| Top Democrats Press Treasury to Accelerate Airline Bailout | Top Democrats Press Treasury to Accelerate Airline Bailout |
| (about 13 hours later) | |
| WASHINGTON — Top Democratic lawmakers have urged Treasury Secretary Steven Mnuchin to quickly provide American airlines with direct payroll assistance and to avoid insisting on overly restrictive terms that could deter companies from taking the money. | WASHINGTON — Top Democratic lawmakers have urged Treasury Secretary Steven Mnuchin to quickly provide American airlines with direct payroll assistance and to avoid insisting on overly restrictive terms that could deter companies from taking the money. |
| Major airlines began submitting their applications for government support to the Treasury Department on Friday but there is growing concern within the industry that Mr. Mnuchin will demand strict terms to ensure that taxpayers are compensated, such as large equity stakes in the companies. Some of the airlines, which have seen demand plummet as the coronavirus pandemic has stalled global travel, are wary of giving the government too much control over their businesses and accepting strict conditions tied to the aid. | Major airlines began submitting their applications for government support to the Treasury Department on Friday but there is growing concern within the industry that Mr. Mnuchin will demand strict terms to ensure that taxpayers are compensated, such as large equity stakes in the companies. Some of the airlines, which have seen demand plummet as the coronavirus pandemic has stalled global travel, are wary of giving the government too much control over their businesses and accepting strict conditions tied to the aid. |
| Democrats fear that if Mr. Mnuchin drives too hard of a bargain, airlines will balk and lay off more workers. In a letter that was sent to Mr. Mnuchin on Sunday, Senator Chuck Schumer of New York, the Democratic leader, and Speaker Nancy Pelosi warned that it would not be in the public interest if the airlines were to choose to declare bankruptcy. | Democrats fear that if Mr. Mnuchin drives too hard of a bargain, airlines will balk and lay off more workers. In a letter that was sent to Mr. Mnuchin on Sunday, Senator Chuck Schumer of New York, the Democratic leader, and Speaker Nancy Pelosi warned that it would not be in the public interest if the airlines were to choose to declare bankruptcy. |
| “Assistance must not come with unreasonable conditions that would force an employer to choose bankruptcy instead of providing payroll grants to its workers,” they wrote in the letter, which was reviewed by The New York Times on Sunday. | “Assistance must not come with unreasonable conditions that would force an employer to choose bankruptcy instead of providing payroll grants to its workers,” they wrote in the letter, which was reviewed by The New York Times on Sunday. |
| The lawmakers said that they recognized the Treasury Department’s need to protect taxpayer money being used to bail out industries and to seek warrants — options to buy stock in a company — in exchange for government assistance. But they said that the administration must ensure that the companies commit to protecting workers, which was the intent of the law signed by President Trump. The letter was co-signed by Senator Sherrod Brown of Ohio, the top Democrat on the banking committee, and Representative Peter A. DeFazio of Oregon, the Democratic chairman of the House Transportation and Infrastructure Committee. | The lawmakers said that they recognized the Treasury Department’s need to protect taxpayer money being used to bail out industries and to seek warrants — options to buy stock in a company — in exchange for government assistance. But they said that the administration must ensure that the companies commit to protecting workers, which was the intent of the law signed by President Trump. The letter was co-signed by Senator Sherrod Brown of Ohio, the top Democrat on the banking committee, and Representative Peter A. DeFazio of Oregon, the Democratic chairman of the House Transportation and Infrastructure Committee. |
| “We urge you to quickly and fairly enter into direct payroll assistance agreements with each of the carriers and contractors provided for in the law,” they said. | “We urge you to quickly and fairly enter into direct payroll assistance agreements with each of the carriers and contractors provided for in the law,” they said. |
| The $2 trillion economic stabilization package that Congress passed last month earmarked $25 billion in grants and another $25 billion in loans for the industry. Cargo carriers were also allocated $8 billion of grants and loans. Airlines are expected to maintain their staffing levels through the end of September if they accept the money. | The $2 trillion economic stabilization package that Congress passed last month earmarked $25 billion in grants and another $25 billion in loans for the industry. Cargo carriers were also allocated $8 billion of grants and loans. Airlines are expected to maintain their staffing levels through the end of September if they accept the money. |
| Last week, the Treasury Department laid out the application process for airlines and asked them to propose how they would compensate the government for aid. Mr. Mnuchin is working with investment banks to help negotiate the terms and said last Thursday that he had selected PJT Partners to work with the airlines and Moelis & Company to focus on cargo carriers. | Last week, the Treasury Department laid out the application process for airlines and asked them to propose how they would compensate the government for aid. Mr. Mnuchin is working with investment banks to help negotiate the terms and said last Thursday that he had selected PJT Partners to work with the airlines and Moelis & Company to focus on cargo carriers. |
| The department has been under pressure to ensure that taxpayer money is protected and that the government does not just hand a blank check to companies, especially those that have spent several years using their cash to engage in stock buybacks, which reward shareholders. Major airlines spent $19 billion repurchasing their own shares over the last three years. | The department has been under pressure to ensure that taxpayer money is protected and that the government does not just hand a blank check to companies, especially those that have spent several years using their cash to engage in stock buybacks, which reward shareholders. Major airlines spent $19 billion repurchasing their own shares over the last three years. |
| Mr. Mnuchin has insisted that companies will not be forced to hand over their stock, but that taxpayers must be compensated for offering relief. | Mr. Mnuchin has insisted that companies will not be forced to hand over their stock, but that taxpayers must be compensated for offering relief. |
| “There is a specific line in the bill that says that the secretary, meaning me, will determine proper compensation,” Mr. Mnuchin said at a White House briefing last week. “Once we get our advice from our financial advisers, we get the applications from the airlines, I’ll be working very closely with the president, and we’ll make sure that we strike the right balance.” | “There is a specific line in the bill that says that the secretary, meaning me, will determine proper compensation,” Mr. Mnuchin said at a White House briefing last week. “Once we get our advice from our financial advisers, we get the applications from the airlines, I’ll be working very closely with the president, and we’ll make sure that we strike the right balance.” |
| Updated June 16, 2020 | Updated June 16, 2020 |
| The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. | The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. |
| So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. | So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. |
| Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. | Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. |
| A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. | A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. |
| The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. | The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. |
| Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission. | Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission. |
| States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people. | States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people. |
| Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. | Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. |
| If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) | If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) |
| Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications. | Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications. |
| The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing. | The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing. |
| If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. | If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. |
| If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. | If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. |
| The department had no immediate comment on the letter from lawmakers. | The department had no immediate comment on the letter from lawmakers. |
| Airline executives have been hesitant to say whether they will let the government take stakes in their companies. Unions that represent flight attendants at several major airlines urged Mr. Mnuchin not to exercise his power to take stock in the airlines last week. They said it would deter executives from taking aid, leading to more job cuts. | Airline executives have been hesitant to say whether they will let the government take stakes in their companies. Unions that represent flight attendants at several major airlines urged Mr. Mnuchin not to exercise his power to take stock in the airlines last week. They said it would deter executives from taking aid, leading to more job cuts. |
| “The public gets a huge return on investment in this deal,” said Sara Nelson, the president of the Association of Flight Attendants union. “It keeps two million hourly workers employed, paying taxes and able to spend, and it ensures that aviation is ready to fly again and restart our economy the moment we have the virus under control.” | “The public gets a huge return on investment in this deal,” said Sara Nelson, the president of the Association of Flight Attendants union. “It keeps two million hourly workers employed, paying taxes and able to spend, and it ensures that aviation is ready to fly again and restart our economy the moment we have the virus under control.” |