The $2 trillion coronavirus rescue package: What's in it for Washington?
The $2 trillion rescue and relief package, signed Friday by President Trump, puts money to the top and bottom ends of Washington's economy -- $17 billion for loans if Boeing opts to ask and more than $50 billion for airlines, money for commercial fishing, dollars to keep Hanfortd workers on the payroll, and money to help airport employees who fix in-flight meals and clean planes.
"It will get us through the first punch in the gut to the economy," said Rep. Rick Larsen, D-Wash., in an interview.
The bailout can be seen through the prism of its airline provisions. It includes $58 billion for passenger and cargo airlines, half the money to keep the workforce until late summer, plus $25 billion earmarked for loans. The money CANNOT be used for stock buyback, a "guard rail" imposed by Congress, in words of Rep. Kim Schrier, D-Wash.
The Boeing Everett plant sits in Larsen's district, and he defended the bill's generosity toward airlines, saying, "They (Boeing workers) will be building airplanes if the airlines are buying airplanes."
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