Major U.S. passenger and cargo airlines say they need more than $50 billion in federal bailout money as the coronavirus pandemic closes businesses and dramatically slows down air travel.

A lobbying group that represents 10 U.S. passenger and cargo airlines said Monday that in a worst-case scenario, the airlines will “run out of money completely sometime between June 30 and the end of the year.”

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The aid, if received, would be the industry’s first broad bailout since the wake of the Sept. 11, 2001 attacks. It is also the clearest sign yet of the financial damage coronavirus and the draconian measures governments are taking to stop it are having on American businesses.

Airlines for America, which represents carriers including Delta, United, American, and Southwest, recommended passenger carriers immediately receive up to $25 billion in grants to compensate for reduced liquidity and in the medium-term $25 billion in low- or zero-interest loans.

More: US airlines seek more than $50 billion in government assistance as coronavirus roils business Read the rest

In 2017, Trump and then-Wisconsin Governor (and Koch darling) Scott Walker announced that they would give Chinese manufacturing giant $3B in taxpayer subsidies to open the only flat panel display factory in the western hemisphere (the figure quickly grew to $4.1B), despite the company's long, documented history of lying to governments, sucking up subsidies, and never delivering the promised facilities or jobs. Read the rest

Between Trump's massive tax-breaks for the super-rich and rules like California's disastrous Prop 13, our cities perennially cash-starved and have led to the erosion of the same public services that make cities attractive to businesses (for example, the subway, public education, roads, grid and other public services that made NYC so attractive to tax-dodging Amazon for its second headquarters). Read the rest

Amazon's new headquarters will be split between northern Virginia and parts of Queens, New York, and will net the company billions in corporate welfare, branded as "incentives." Read the rest

When Wisconsin governor Scott Walker announced a $3 billion corporate welfare plan for a new Foxconn plant in his state, Foxconn watchers warned that the company had a long history of breaking its new factory promises after sucking up billions in taxpayer dollars. Read the rest

King County Council was ambushed by a series of surprise amendments to its meeting on Monday that resulted in $135,000,000 being diverted from hotel lodging tax funds earmarked for affordable housing, arts, and tourism boosting, to effect repairs to the Mariners stadium, despite the team being valued at nearly $1.5 billion. Read the rest

Whether it's paying for burying dedicated power-lines for data-centers, winning below-cost sweetheart deals on electricity rates, or securing tax-breaks and incentives to set up shop, Amazon Web Services has proven time and again that it is the nation's best cost-shifter, enjoying billions in tax-funded gifts for operating data centers that employ almost no one and whose profits go straight to distant shareholders. Read the rest

The recent trumpist trumpeting about the plans of Chinese manufacturer Foxconn to open a manufacturing facility in Wisconsin omitted a few key details -- like the fact that Foxconn is being given a sweetheart tax-break that's topped up with 15 years' worth of guarantees of up to $200m/year in cash subsidies at taxpayer expense -- a record-setting taxpayer subsidy that exceeds the previous Wisconsin record-holder by a factor of fifty. Read the rest

Last February, Carrier announced that it was offshoring its US air-conditioner manufacturing jobs to Mexico, despite having made a $7.6B profit that year, despite having received more than $6B in US military contracts, despite having recved a $50M tax-break, despite having paid its retiring CEO a $172m bonus, despite having spent $12b on stock-inflating accounting tricks. Read the rest