The Cares Act gave corporations millions, no strings attached

Source: Desmond Butler, Steven Mufson and Douglas MacMillan (Paid Registration)

At least 133 companies received a total of more than $5 billion in refunds through the Cares Act.

Regardless, some of the largest staff reductions of the year have occurred at companies receiving Cares Act tax breaks. The Cares Act tax breaks highlight a crucial shortcoming of the historic U.S. economic relief effort: Nearly six months after the bill’s passage, more people are unemployed than at any time during the Great Recession, and there is little sign that billions of dollars in corporate tax relief have trickled down into the pockets of struggling families.

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