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Treasury Secretary Steve Mnuchin Is Proving He Can’t Be Trusted With Our Economic Recovery

MAY 19, 2020
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Treasury Secretary Steve Mnuchin Is Proving He Can’t Be Trusted With Our Economic Recovery
WASHINGTON, D.C. — Treasury Secretary Steve Mnuchin testified in the Senate today to defend his oversight of economic relief funds during the coronavirus pandemic. He claimed that he has worked to “get relief into the hands of hardworking Americans and businesses as quickly as possible,” but here’s the reality:
  • He continues to focus on funneling money to the wealthy and big corporations while millions of Americans are still losing their jobs and having their hours cut
  • Billions in relief funds for small businesses have instead been snapped up by big corporations, as banks were allowed to pick and choose whose loans to prioritize – and they chose to maximize their own profits instead of actually helping the small businesses most in-need of help
  • He continues to put corporate profits ahead of working people’s safety by pushing Trump’s agenda to force employees back to work and giving corporate immunity to businesses whose employees or customers become infected because of inadequate safety protocols

All this was predictable. When Mnuchin was tapped to lead the Trump administration’s economic efforts in this crisis, we warned that he had a record of crushing middle class and working families to funnel money to his super-rich friends. Now we are seeing the result, and Mnuchin is asking us to keep trusting him.

We need Congress to focus on getting relief directly to everyday Americans, not the wealthy and big corporations. That means advancing the HEROES Act to unlock billions of dollars in direct relief to Americans and reversing the $135 billion ‘Millionaires Giveaway’ that Republicans added to the CARES Act. It is being blocked by Trump and Mitch McConnell in the Senate after it passed in the House with a bipartisan vote. But before voting, the Senate should strengthen the bill by requiring real oversight of Mnuchin and the administration as they distribute trillions in relief funds. With the twin crises of a pandemic and an economic collapse, this is the time for relief that matches the scale of this pandemic and centers the American people.

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