New York State Governor Andrew Cuomo urged Congress to pass a law compelling companies to re-employ workers who were laid off during the Corona Virus crisis, in exchange for government rescue funds.
Cuomo said that once these companies are rescued, they will not reappoint the same number of employees in order to boost their profits.
We will not support you to lay off workers, Como said, heading to business owners. If you can lay off workers, and you save money by layoffs, you don’t need an American taxpayer to support you.
Como warned against a repeat of the bailouts that focused on companies after the 2008 financial crisis.
Since early March, Congress has passed bills allocating $ 3 trillion to fight the epidemic, including funds for individuals and companies to mitigate the economic impact and counteract the high unemployment rate to 14.7% in April, as US job losses have reached levels not seen since the Great Depression of 1930.