Donald Trump's Empire May Be Ruined By Coronavirus And Senate Unwillingness To Sponsor Government Officials' Businesses
According to the Senate decree on the allocation of additional funds to help distressed industries, all businesses owned by individuals from the US government cannot count on a cent of the $ 500 billion funds for victims of coronavirus.
“Draft text includes a provision to prohibit businesses controlled by the president, vice president, members of Congress, heads of executive departments and their immediate family members — spouses, children and in-laws — from receiving loans or investments from Treasury programs as part of the stimulus package,” reports NBC News.
Senate Minority Leader Chuck Schumer, D-N.Y. told on MSNBC's "Morning Joe" about why providing such tremendous funds to the president or any other official would negatively impact the situation. According to Schumer, this can create a huge number of corruption schemes for their own benefit.
"I think the danger is much greater the other way, Joe, that if they get a financial interest then they’ll make policy decisions leaning and bending in that direction," Schumer said. "Look, I’ve always believed ... that those who make the laws shouldn’t directly benefit monetarily from those laws. We’ve tried to get better and better and better at that, and this is just another example. It’s not aimed just at Donald Trump, but at anyone in high office."
In a statement to CNN, Chuck Schumer added that with power and control over the majority, the Presidential Administration, Congress, and Senate can begin to use public money for personal purposes.
“Any major figure in government, Cabinet, Senate, congressmen, if they have majority, they have majority control, they can't get grants or loans and that makes sense," Schumer said on CNN's "New Day".
Image: screenshot from Deadline