Trump Says He Wants Stock Buybacks Prohibited in Virus Stimulus

(Bloomberg) -- President Donald Trump said he wants a massive coronavirus stimulus bill under debate in Congress to ban stock buy-backs by companies that receive federal aid.

“I don’t want to have stock buybacks,” he said Friday at a White House news conference. “I don’t like buybacks. I didn’t like them the first time.”

A bill Senate Majority Leader Mitch McConnell proposed Thursday would provide billions of dollars of loans to corporations and grants to small businesses. It would prohibit extra bonuses and raises for executives but doesn’t explicitly forbid stock buy-backs, a way of returning money to shareholders.

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