Trump Floats Using Extra $300 B In Coronavirus Relief Aid For Second Stimulus Check: On Friday, during a White House press briefing, Trump said, they have $300 billion in an account that they didn’t use. He says he is willing to release that to Congress to approve a fresh round of $1,200 of American families’ stimulus checks.
Trump says he needs approval from Congress to redirect the funds. He didn’t mention what the funding source is, but he may be 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 Federal Reserve lending programs’ losses. So far, $259 billion of that funding remains uncommitted.
“It’s money that we have- money that we haven’t spent, and I would love to give it to the American people as a potent stimulus.”
Democrats are going to sit down with Republicans if they agree to a $2 trillion price tag. In August, new government data released on Friday showed the economy added 1.4 million jobs, and the unemployment rate dropped to 8.4%.