Ocasio-Cortez bill would award stock in companies getting aid

Rep. Alexandria Ocasio-Cortez is proposing a mandate that corporations receiving federal aid related to COVID-19 distribute shares in the company to rank-and-file workers until they repay the government.

The New York Democrat’s bill would require certain companies receiving relief funds to make annual stock grants to employees, according to text of the legislation provided by spokeswoman Lauren Hitt.

Ocasio-Cortez’ proposal follows enactment of a roughly $2 trillion rescue package in March that included $500 billion in loans and loan guarantees for mid- or large-sized companies to address the pandemic’s impact, including $46 billion earmarked for direct loans to the aviation industry.