President Donald Trump said he’d support the U.S. taking an equity stake in companies that receive coronavirus-related aid from taxpayers and prohibiting firms from increasing executive bonuses and stock buy-backs.
“We don’t want that,” Trump said Thursday at a White House news conference. “Some companies, as you know, did stock buybacks. It’s very hard to tell them not to but I would tell them not to.”
He answered “yes” when asked whether he supports the U.S. taking equity stakes in companies that receive assistance, an idea that his top economic adviser Larry Kudlow publicly suggested on Wednesday.
Asked if he would ban buy-backs and bonuses as a condition of a stimulus bill under development in Congress, Trump said: “It takes many, many people -- in this case -- to tango. Conditions like that would be O.K. with me.”
Some of Trump’s Republican allies in Congress have begun to object to plans to provide grants to companies as part of the stimulus, characterizing them as corporate bailouts. Trump said he aims to help workers, not companies.
“We don’t want to pick winners and losers,” he said. “We want everybody to benefit.”
Trump said he intends to help the airline, cruise ship and hotel industries. He also emphasized: “We will be helping small businesses.”
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