Like millions of Americans, Donald Trump is hoping Congress will pass a bill for another round of stimulus checks. According to the President, the government ought to use the $300 billion in remaining COVID-19 relief funds.
President Donald Trump spoke out about stimulus checks during a White House press conference last Friday. He urges Congress to redirect the unused coronavirus relief funds in order to put money in the hands of the American people.
“We have $300 billion in an account that we didn’t use,” Trump said, Forbes reports. “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.”
President Trump may be referring to money originally allotted for small business loans, Fox Business reports. In March, Congress approved a $2.2 trillion stimulus package as part of the Cares Act. Congress appropriated $500 billion for small business loans. Currently, $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 by adding: “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.”
Stimulus Checks: The Latest from Congress
Currently, Democrats and Republicans reportedly agree on issuing another $1,200 second stimulus check for individuals as well as $2,400 check for married/joint filers. However, the political parties reportedly disagree on the amount dependents should receive.
Republicans call for $500 for dependents while Democrats call for $1,200 for each dependent, up to three dependents. Since leaving for summer recess in mid-August, Congress has failed to officially approve the second round of payments.