Trump floats using extra $300B in coronavirus relief aid for second stimulus check
The first $1,200 cash payments to U.S. households cost about $300 billion
resident Trump called on Congress to approve a fresh round of $1,200 stimulus checks for American families by reallocating $300 billion in unused coronavirus relief funds.
“We have $300 billion in an account that we didn’t use. I would be willing to release it, subject to Congress, and use that as stimulus money and it would go right to the American people,” Trump said Friday during a White House press briefing.
Although Trump said he considered redirecting the funds unilaterally, he was told he needed Congress’ approval.
Trump did not specify what the funding source is, but may have been referring to unused business loan money approved by lawmakers at the end of March in the $2.2 trillion CARES Act. Under the stimulus package, Congress appropriated $500 billion to the Treasury, with $454 billion intended to cover losses on Federal Reserve lending programs. So far, $259 billion of that funding remains uncommitted.
“It’s money that we have — money that we built up and money that we haven’t spent, and I would love to give it to the American people as a very powerful stimulus,” Trump said.
He continued: “I think there is a theory that I could do it without having to go back, but I think it would be appropriate to go back, and I would ask Congress to approve it. It’s a very simple approval. It’s — literally, it’s a one-sentence approval, and the Democrats should do that. The Republicans will do that. They would be glad to do that.”