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Sen. Todd Young: Businesses shouldn't take stimulus money, then lay off workers

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Posted at 2:51 PM, Mar 19, 2020
and last updated 2020-04-19 16:00:32-04

INDIANAPOLIS — Sen. Todd Young, R-Indiana, said he’s in favor of income caps for proposed stimulus money, as the federal government looks for ways to help the nation's economy amid the spread of the coronavirus.

Americans could get two $1,000 checks within the next nine weeks, Treasury Secretary Steve Mnuchin said Thursday.

But some people may not be getting checks, if they already make a lot of money.

Republicans are discussing income thresholds of $75,000 for individuals and $150,000 for couples, according to thehill.com.

Young said he’s in favor of these caps.

“If you’re a multi-millionaire, you should not be receiving $1,000 or $2,000 check from the treasury,” Young said.

He also said he doesn’t want to see businesses taking bailout money or loans, then turning around and laying off workers. He said the bill will have what’s called “program
integrity parameters.”

If you get a “staying-in-business loan,” Young said, that money needs to go toward payroll.

“I can’t guarantee there wont be any abuse but we’re trying to act quickly and we’re trying to act responsibly and try and put in place whatever measures we can to make sure people can’t game the system,” Young said.