Trump businesses barred from getting coronavirus stimulus money, Schumer says
President Donald Trump’s Mar-a-Lago resort is seen on November 1, 2019 in Palm Beach, Florida.
President Donald Trump’s businesses are barred from getting loans or investments under the new $2 trillion coronavirus stimulus deal, according to Senate Minority Leader Chuck Schumer.
The Trump Organization, which the president has not divested, is run by his two elder sons, Donald Jr. and Eric. The company controls several hotels, resorts and golf clubs, including Mar-a-Lago in Palm Beach, Florida. The resort closed last week, during its peak season.
Lawmakers and the White House reached an agreement early Wednesday after days of tense, roller-coaster negotiations that added to uncertainty in markets.
Democrats and other critics of the president were concerned that Trump’s businesses would receive bailout money because the tourism industry is one of the hardest-hit by the coronavirus, which has spurred …continued .
[Source: CNBC News]