Congress is set to pass an approximately $2 trillion relief package to boost the ailing economy and give relief to struggling workers and local governments during the fight to stop the spread of the novel coronavirus.
Provisions in the bill will bar President Donald Trump‘s private businesses — which he has controversially chosen not to divest — from receiving that bailout money.
Senate Minority Leader Chuck Schumer assured his fellow Democratic lawmakers in an early morning letter on Wednesday that Democrats and Republicans agreed to language in the historic stimulus package that will prevent businesses owned by Trump or his family members from benefitting from the aid, according to multiple news reports.
Schumer, 69, told CNN on Wednesday that the provisions restrict the financial assistance “not just the president.”
“Any major figure in government” will not be eligible to receive the aid being made available during the economic slowdown caused by the virus, which has forced millions of people to stay home.
“Cabinet, Senate, congressmen — if they or their family have majority control, they can’t get grants or loans and that makes sense,” Schumer said. “Those of us who write the law shouldn’t benefit from the law.”
There had …read more