This unprecedented moment is calling those in leadership to act in bold and innovative ways. The COVID-19 virus has impacted the entire global economy putting at risk the livelihood of tens of millions of Americans. Those who were already vulnerable in our economy are pushed even further to the brink.
Given the challenges facing the country, Amalgamated Bank is publicly endorsing federal action to stabilize the economy and support the millions of displaced workers who are un-employed or under-employed as a result of the COVID-19 crisis. The packages of bills and solutions being considered by Congress should quickly move forward to stem further jeopardization of working families. No matter the solution presented now and into the future, it must be centered on the needs of workers, especially addressing the disproportionate impact on the on immigrant, low-income, disabled, and communities of color. Action from all governments is important, but none can match the scale of the federal government. Simply, there is no time to wait and we must act with urgency.
Amalgamated Bank supports federal actions to:
- Provide free COVID-19 testing for all Americans, especially those nurses and service workers who are on the frontline of combatting the virus
- Provide worker relief payments for individuals and families who are low or middle income or are financially displaced by COVID-19
- Provide additional relief for nurses, home healthcare workers, first responders, and others on the frontline of combatting COVID-19. They are the true heroes in this moment!
- Provide paid sick leave for workers who have been affected by COVID-19
- Provide relief for homeowners and renters to ensure they stay in their homes
- Provide grants and low-cost loans for small business and nonprofits so they may weather the storm and continue to play a critical role in our economy
- No cuts to the long-term and short-term care solutions of Medicare or Medicaid
- No cuts to the social safety net, food aid, or unemployment benefits
- Ensure workplaces are safe, healthy, and meet the highest standards of sanitation
In addition to action by the federal government, Amalgamated Bank supports the philanthropic sector’s efforts to respond in this moment. Amalgamated supports the calls to increase grantmaking beyond the 5% minimum for private foundations, supporting grantees with quick-moving flexible dollars for emergency needs, exploring integrated capital strategies, and investing in technology to catalyze work from home scenarios. The Amalgamated Foundation has signed a pledge with other foundations committing to support grantees during this important moment.