Senate Coronavirus Bill Prohibits Trump Hotels From Receiving Bailouts
A provision in the bill prohibits businesses controlled by the president, vice president, members of Congress, and heads of executive departments from receiving loans or investments from U.S. Treasury programs. The prohibition also applies to their children, spouses, and in-laws, according to a summary from the office of Senate Minority Leader Chuck Schumer (D-N.Y.).
The measure was added in the portion of the bill aimed at helping distressed industries with at least $450 billion in loans. The massive fund would be controlled by the Treasury Department and could include bailouts to hotels, casinos, cruise lines, and the oil and gas industry. Since earlier drafts of the legislation included virtually no restrictions on how the money would be distributed, Democrats feared it would allow properties owned directly by Trump or his family to receive bailouts.
Asked about the matter on Sunday, Trump …continued .
[Source: Huffington Post]