Senate Democrats negotiated a provision in the $2 trillion coronavirus stimulus package that will block President Donald Trump and other government officials from getting bailout funds, Reuters reports.
The Senate reached an agreement on the bill in the wee hours of Wednesday morning.
The bill includes a $500 billion bailout fund to help companies hit hard by the coronavirus. The original Republican version allowed the Treasury Department to allocate $425 billion of that with no oversight and no requirement to reveal who got the money until six months later.
The revised bill will include strong oversight requirements and will create a five-member panel to oversee the distribution.
Trump gets no bailout:
Another provision secured in the bill will prevent President Donald Trump, his family, Vice President Mike Pence, and members of Trump’s cabinet and the Congress from dipping into the bailout funds.
"The children, spouses, and in-laws of the aforementioned principals are also included in this prohibition," the bill says.
But progressives like Rep. Alexandria Ocasio-Cortez argued that the bill was still too favorable to corporations.
"The developments of this Senate relief bill are concerning," Ocasio-Cortez said. “We are hearing lots of vague statements, but not a single member of Congress has seen actual bill text. It seems to give a *HALF TRILLION DOLLARS* away to big corporations, with few worker protections. Half a trillion."
Trump Organization hit hard:
The bill comes as the Trump Organization faces a tough time amid the coronavirus pandemic.
The company was forced to shutter six of its top seven earning golf clubs, according to The Washington Post.
The company has left Trump’s hotels in New York, Chicago, and Washington open but has laid off hundreds of workers as occupancy rates plummet.
"It's hurting me," Trump said Sunday, "and it's hurting Hilton, and it's hurting all of the great hotel chains all over the world."
Union leader John Boardman told the AFP that the DC hotel has definitely fallen on hard times.
"It doesn't make sense for them to stay open. The hotel has like 3% occupancy," he said. "He may not be shutting it down just to be able to say they are still operating."