Chuck Schumer made sure businesses controlled by Trump, his family, and top US officials couldn't get money from the government's $2 trillion coronavirus bailout fund

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Senate Minority Leader Chuck Schumer secured a condition in the government's $2 trillion coronavirus stimulus package that would bar President Donald Trump's businesses from receiving money.

Under the proviso, businesses owned by members of Congress, Vice President Mike Pence, and top members of the executive branch would also be excluded from the bailout.

Trump owns a string of high-end hotels and golf resorts, several of which have been shuttered during the pandemic.

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.

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Senate Minority Leader Chuck Schumer secured an agreement in the $2 trillion federal coronavirus stimulus package that would bar businesses owned by President Donald Trump, his family, top US officials, and members of Congress from receiving money from the fund.

An aide to Schumer told Reuters that under the proviso, businesses owned by Vice President Mike Pence and heads of executive-branch departments would also be barred from receiving loans or investments under the Treasury Department programs.

The Senate and the White House early on Wednesday agreed on the massive stimulus package to help American workers and businesses mitigate the devastating economic effects of the coronavirus outbreak.

Under the deal, millions of Americans whose livelihoods are imperiled by the pandemic would receive billions of dollars in direct payments and expanded unemployment aid, and states and businesses would receive loans and other financial help.

Vice President Mike Pence, Trump, and Schumer in the Oval Office. Evan Vucci/AP Images

There had been speculation about how an aid package would affect businesses owned by Trump, a real-estate developer who owns a string of high-end hotels and golf courses, several of which have been shuttered because of measures to contain the outbreak.

Six of the Trump Organization's seven most profitable clubs and hotels, including those in South Florida, New Jersey, and Las Vegas, have been closed, The Washington Post reported on Monday.

Citing Trump's latest financial statements, The Post said those businesses accounted for about $174 million in annual revenue.

In recent days, Trump has advocated easing quarantining measures to ease the economic effects. Many experts have said that easing measures designed to slow the outbreak would imperil public health.

A sparsely populated outdoor space in New York City on March 4. Getty Images

One of the major sticking points of the $2 trillion aid bill was ensuring that the business fund would be distributed fairly and that Treasury Secretary Steve Mnuchin would not use it to help Trump and his allies.

Trump doesn't have a direct role in the day-to-day operation of his businesses and has handed over control to his sons Eric Trump and Donald Trump Jr.

Schumer's proviso also includes businesses owned by the children or spouses of top officials and lawmakers, CNN's Manu Raju tweeted.

On Sunday, the president indicated that he had not ruled out congressional aid for the Trump Organization should the bailout funds become available.

"Everything's changing, just so you understand. It's all changing," Trump said. "But I have no idea."

Jaha_Jaha on March 25th, 2020 at 12:52 UTC »

Trump whispered into his ear “but do I still get that $1,000 check though?”

Sparksgalor on March 25th, 2020 at 12:34 UTC »

the White House and Republicans agreed to allow an oversight board and create a Treasury Department special inspector general for pandemic recovery to scrutinize the lending decisions and detect abusive or fraudulent behavior. Trump: “I got just the man to do this, a good man, an excellent man. Now where is Rudy?”

ZigZagZedZod on March 25th, 2020 at 12:27 UTC »

A good start. Next, Congress should require members of Congress, senior Executive Branch officials, members of the Supreme Court, and their immediate families (spouses and children) place their assets into blind trusts.