While Trump’s Hotels Lose Millions, He Will “Be the Oversight” on $500 Billion Coronavirus Fund
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Senate Republicans are currently trying to pass a $1.8 trillion coronavirus bailout package, however the $500 billion fund for affected businesses as well as state and local governments is raising concerns about who exactly would see that money.
Treasury Secretary Steven Mnuchin would be tasked with doling out $425 billion worth of funds, with virtually no oversight provisions for how he is allowed to distribute the money. Democrats are warning that Mnunchin could use this “slash fund” to bail out businesses that are politically aligned, such as corporations, GOP donors and even Trump’s own hotel empire.
Trump was asked about the validity of these concerns at a press conference on Monday evening, to which he replied with: “I’ll be the oversight, I’ll be the oversight. We’re gonna make good deals.”