Mnuchin: Trump supports McConnell's economic assistance initiative

Mnuchin: Trump supports McConnell’s economic assistance initiative

The President will sign the bill if it is passed by Congress
President Donald Trump will sign a bill on economic assistance for the Coronavirus, proposed by the majority leader in the Republican Senate, Mitch McConnell, if the package is adopted by Congress, Finance Minister Stephen Mnuchin told reporters on Wednesday.

“The President will sign McConnell’s proposal, which he put forward yesterday. We hope to make progress in that direction,” Mnuchin said while talking to journalists on Capitol Hill.
Mnuchin and White House chief of staff Mark Meadows discussed the assistance package with McConnell and Republican leader in the House of Representatives Kevin McCarthy during a private meeting on legislative initiatives the president can sign.

McConnell is calling for $500 billion, which Democrats consider insufficient. The senatorial majority leader began distributing the new bill Tuesday after a bipartisan group of lawmakers presented a $908 billion package. The bill, among other things, will provide $228 billion as part of a job preservation program for hotels, restaurants and other small businesses.
According to a Republican source in the Senate, McConnell’s new initiative is very close to a bill he had promoted for several months and which was rejected by the Democrats. According to a document read by Reuters, the plan provides for new loans or grants for small businesses worth 332.7 billion dollars.

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