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For Immediate Release

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Press Release

Patriotic Millionaires: Phase 3.5 Bill "Nowhere Near Enough"

"Just wait until the next bill' is not good enough anymore."
WASHINGTON -

This morning, in response to yesterday's House voted to pass the Senate's "phase 3.5" coronavirus relief bill, which allocates additional money for small businesses and public health, but fails to include any funding for states and localities, the Post Office, election security, or additional direct cash assistance.

In response to this bill's shortfalls, Morris Pearl, the Chair of the Patriotic Millionaires and a former managing director at BlackRock, Inc., released the following statement:

"On the same day reported jobless claims rose by another 4.4 million, Congress showed a complete inability to rise to the occasion. This bill does nowhere near enough to respond to the economic impact or the public health impact of the coronavirus crisis. Congress has clearly decided to push the ball further down the road when it comes to additional support for workers and states that is needed.

It is absurd that over a month into a national lockdown, we still do not have universal paid sick leave, forcing essential workers who feel ill to put themselves and everyone around them at risk just to pay their bills. 

It is absurd that with virtually every state in the country facing catastrophic budget shortfalls they still do not have adequate support from the federal government. 

It is absurd that as bills continue to accumulate for millions without steady streams of income, the federal government is giving no more than a one-time payment of $1200. 

It is absurd that with our elections in November direly threatened by this pandemic, we still don't have universal vote by mail or additional election funding. 

'Just wait until the next bill' is not good enough anymore. If these are truly legislative priorities for members of Congress, as they should be, they need to start fighting for them."

For further comments or questions, please contact Sam Quigley at sam@patrioticmillionaires.org.

###

The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country’s political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three “first” principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

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