CONGRESSMAN JOE MORELLE CALLS FOR OVERSIGHT AND ACCOUNTABILITY AT U.S. TREASURY AND FEDERAL RESERVE
(Rochester, NY) – Congressman Joe Morelle (NY-25) and a group of over 80 lawmakers are calling on Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin to put workers—not corporate profits—first and include strict corporate accountability measures in any coronavirus relief aid.
“Families across the country have been struggling—yet the Trump administration is far more concerned with bailing out corporations and special interests,” said Congressman Morelle. “We need to put everyday Americans first, and that means implementing strong oversight measures to ensure COVID-19 relief is going to those who need it most. I’ll continue working alongside my colleagues to provide the support and assistance our communities need to get through this crisis.”
In 2008, the federal response to the financial crisis provided hundreds of billions of dollars in a bailout with virtually no conditions. However, for years after the crisis, American families struggled to return to financial stability—and many still have not. In an effort to not repeat these same mistakes, Rep. Morelle joined a bicameral group of colleagues in sending a letter to Chair Powell and Secretary Mnuchin calling for transparency and accountability to protect taxpayers.
The letter has been endorsed by Americans for Tax Fairness, Association of Flight Attendants-CWA, Communications Workers of America, International Association of Machinists and Aerospace Workers, International Brotherhood of Teamsters, NETWORK, Public Citizen, The FACT Coalition, and Transport Workers Union.
The full letter is below.