Here's why the depleted cruise line industry will be one of the biggest losers of the new $500 billion corporate bailout program
The $2 trillion stimulus package contained a substantial pot of money for bailouts of large corporations and businesses.
Democrats are critical of aiding an industry that avoids federal taxes, but Trump has expressed a willingness to help them out.The coronavirus pandemic has effectively shut down the US economy over the last month, compelling the Trump administration to pass a $2 trillion stimulus package to rescue a collapsing economy.
But one sector hammered in the economic fallout won't qualify for emergency aid: cruise line companies. The savings is substantial. Carnival, for example, would have had to pony up $600 million in 2019 on its $3 billion in reported 2019 income,Carnival Corporation is incorporated inLiberia'The whole world's f---ed': A former Goldman Sachs hedge fund chief says coronavirus fallout will cause the 'largest insolvency event in all history' — and warns of another 20% plunge in stocks
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