CNBC – 03/25/2020: Donald Trump will have his bill to allow $2 trillion coronavirus help passed by Senate later today. But, the question now is, will his businesses have any use of this money? According to Senate Minority Leader Chuck Schumer, the answer is no.
Unlike some other Presidents, Donald Trump didn’t distance himself from his private business. The Trump Organization is led by his two sons, Donald Trump Jr and Eric Trump. His company has under Trump name several hotels, golf clubs, and resorts similar to that in Mar-a-Lago, which he frequently visits. The Florida resort was close down last week due to coronavirus fear.
The passing of Trump’s coronavirus bill wasn’t easy as Lawmakers and White House couldn’t find a common stance. But, after days of negotiations, all conditions are known, and the Senate will pass the bill later today.
Democrat block wasn’t sure that POTUS isn’t trying to push this bill so that his business could be saved from the incoming economy crisis. The tourism industry is the one that is being hit the hardest by the COVID-19 pandemic. The Trump Organization will definitely feel the consequences of everything that is going on right now.
So, as we said, the bill will pass, but no members of the White House and Trump’s administration will have no benefit from it. All businesses run by vice-president Mike Pence or any other member of the Cabinet are forbidden from using this money.
Eamon Javers reported on this on his Twitter account: “No deal text yet, but Sen. Schumer says there’s a provision that could have a huge impact on the Trump Org: “Prohibit businesses controlled by the President, Vice President, Members of Congress, + heads of Executive Departments from receiving loans or investments from Treasury.”
The White House didn’t comment on this subject at the moment of writing this article.