President Donald Trump will sign the coronavirus economic assistance bill proposed by Republican Senate majority leader Mitch McConnell if Congress passes the package. Treasury Secretary Steven Mnuchin told reporters on Wednesday.
“The President will sign McConnell’s proposal, which he put forward yesterday. We hope to make progress in this direction,” Mnuchin said, speaking to reporters on Capitol Hill.
The day before, Mnuchin and White House chief of staff Mark Meadows discussed the aid package with McConnell and House Republican leader Kevin McCarthy during a closed-door meeting on legislative initiatives that the President can sign.
McConnell calls for the allocation of the $ 500 billion that the Democrats considered being insufficient. The Senate majority leader began distributing the new bill on Tuesday after a bipartisan group of lawmakers introduced a $ 908 billion package. In particular, this bill provides for the allocation of $ 228 billion in a program to save jobs for hotels, restaurants, and other small businesses.
According to one Republican source in the Senate, McConnell’s new initiative is very close to a bill that he has been pushing for months, and Democrats rejected that. According to a document seen by Reuters, the plan calls for $ 332.7 billion in new loans or grants for small businesses.