And now Disney along with top industry leaders of several major companies are moving forward with a plan to seek over $1 trillion in government aid.
First reported by CNBC, California Governor Gavin Newsom is asking for more state and local funding along with his task force which includes Disney Executive Chairman(and former Disney CEO) Bob Iger as well as Netflix Chief Content Officer Ted Sarandos among many others.
The task force sent a letter to Congress last Friday addressed to House Speaker Nancy Pelosi, House Minority Leader Kevin McCarthy, Senate Majority Leader Mitch McConnell, and Senate Minority Leader Chuck Schumer. In it, they formally requested an additional $1 trillion in flexible economic relief to be distributed throughout all states.
The task force says the additional funds could be used for essential resources to trace and prevent the spread of the virus and to assist operations like child services, job training, and small businesses.
The House of Representatives passed a bill on Friday which included $1 trillion in funding for state and local governments. We’ll continue to follow this developing story and keep you informed of any updates.