BREAKING: Trump Announces Biggest Stimulus Proposal in US History
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On Tuesday afternoon during a press conference, White House economic adviser Larry Kudlow revealed that President Donald Trump plans on signing the largest stimulus bill in United States history to combat the economic impact that the Chinese coronavirus has had on America.
“This package will be the single largest main street assistance program in the history of the United States,” Kudlow said. “The single largest main street assistance program in the history of the United States.”
“This legislation is urgently needed to bolster the economy, provide cash injections and liquidity and stabilize financial markets to get us through a difficult period, a difficult and challenging period in the economy facing us right now but also to position us for what I think can be an economic rebound later this year,” Kudlow added. “Phase two delivered the sick leave for individuals, hourly workers, families and so forth. Phase three, a significant package for small businesses, loan guarantees will be included. We’re going to take out expenses and lost revenues.”
“A strong work force requires a strong business,” Kudlow continued. “You can’t have a job without a business to work for. And the hope here is that the companies that are operating very at the beginning of the year when the economy was in good shape, we will help them and their employees get through this tough period so they will come out the other side, say later this spring or summer, and will continue their operations. That’s the key point.”
“The total package here comes to roughly $6 trillion: $2 trillion direct assistance, roughly $4 trillion in federal reserve lending power,” Kudlow said. “Again, it will be the largest main street financial package in the history of the United States.”
Kudlow added that the stimulus will provide “liquidity and cash for families, small business, individuals, [and the] unemployed to keep this thing going.”
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The announcement comes after Democratic leaders stalled the stimulus package to insert their far left agendas.
On Tuesday, President Donald Trump hammered the Democrats over their politicization of the coronavirus relief package as they made the stimulus bill about partisan issues including the Green New Deal.
“This is not about the ridiculous Green New Deal,” Trump tweeted. “It is about putting our great workers and companies BACK TO WORK!”
Senate Majority Leader Mitch McConnell had similar comments while he was speaking on the Senate floor.
“Democrats won’t let us fund hospitals or save small businesses until they get to dust off the Green New Deal,” McConnell said. “This has got to stop. And today is the day it has to stop. The country is out of time.”
On Tuesday the President also tweeted, "Congress must approve the deal, without all of the nonsense, today. The longer it takes, the harder it will be to start up our economy. Our workers will be hurt!"
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