Chuck Schumer Blocks Trump Businesses From Receiving Money From The Gov. $2 Trillion Coronavirus Bailout Fund
Senate Minority Leader Chuck Schumer on Tuesday night secured an agreement in the $2 trillion federal coronavirus stimulus package that would bar businesses owned by President Donald Trump and his family from receiving money from the fund.
Under the new rule, businesses owned by members of Congress, Vice President Mike Pence, and top members of the executive branch would also be excluded from the bailout, according to Business Insider.
Trump owns a string of high-end hotels and golf resorts, several of which have been shuttered during the pandemic.
On Sunday, the president indicated that he had not ruled out congressional aid for the Trump Organization should the bailout funds become available.
Schumer’s proviso also includes businesses owned by the children or spouses of top officials and lawmakers, CNN’s Manu Raju tweeted.
Schumer office said he has secured a provision in the agreement that will prohibit “businesses controlled by the President, Vice President, Members of Congress, and heads of Executive Departments from receiving loans or investments from Treasury programs.”
— Manu Raju (@mkraju) March 25, 2020
The aid package, agreed on by the White House and the Senate early Wednesday, would provide assistance to Americans and businesses struggling during a sharp economic downturn.