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BREAKING: A bipartisan group of lawmakers introduced a bill on Tuesday they say would help local chambers of commerce survive the coronavirus crisis - but the legislation could allow massive lobbying groups to access government loans meant for small businesses. (1/7)
The bill is called the “Local Chamber, Tourism, and 501(c)(6) Protection Act.” The actual text isn’t out yet but the lawmakers said it would make trade associations with “300 or fewer employees” eligible for PPP loans. Many huge corporate lobbying groups could qualify then. (2/7)pic.twitter.com/xQMotppjMT
America’s Health Insurance Plans (AHIP), which represents health insurers, disclosed $62M in revenue and 158 employees in their 2018 tax return. Pharmaceutical Research & Manufacturers of America (PhRMA), DC’s top drug lobby, listed $459M in revenue and 276 employees. (3/7)
The US Chamber, which endorsed the bill, wouldn’t qualify. But the Chamber’s Institute for Legal Reform, which raised $42M in 2018, only had 33 employees - and it’s currently pressuring Congress to shield businesses from lawsuits if their workers or customers catch COVID. (4/7)
Of course, the US Chamber gets money from other lobbying groups too. From 2009-10, AHIP funneled $100M to the Chamber to bankroll a campaign against the Affordable Care Act, which ultimately helped convince Democrats not to include a public health insurance option. (5/7)
One lawmaker's office says the new bill will "clarify" that trade groups' federal lobbyists aren't eligible for PPP loans. It might not help much. What about state lobbyists? Moreover, the broader purpose of trade groups is advancing business interests & influencing policy. (6/7)
It’s disturbing that members of Congress are pushing to give corporate lobbying groups special loans right now when they’ve done so little to help the millions of Americans who can’t afford food or rent. It needs to stop. (7/7)
Just extend an overdraft protection to these small mom n pop shops, as mentioned by @mcuban , seems waaaay easier.
Why not, I see where the not- for- profit churches are doing the same thing.
Just disgusting
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