Senate Minority Leader Chuck Schumer personally made sure that neither Donald Trump, nor anyone in his family or his organization, would get any of the bailout money intended for businesses included in recently-passed economic stimulus package, Business Insider reports.
On Tuesday night, the House of Representatives reached an agreement on an economic stimulus package that would provide an estimated $2 trillion in aid to regular Americans, and to businesses, that sorely need it. Millions of Americans are out of work due to the nationwide quarantine that has shuttered bars, restaurants, stores, and other businesses. Whole industries, such as the theme park, airline, cruise, and movie industries, are also feeling the economic effects of the pandemic.
The stimulus package includes trillions of federal dollars to be dispersed here and there. For instance, many regular Americans will receive a $1,200 check, while various states, businesses, and whole industries will receive various monies, either via direct payments or loans.
And the Trump Organization will get none of it. Schumer made sure of that.
An aide to Schumer said the Senate Minority Leader wanted, and got, a provision in the bill that would bar President Trump, his family, as well as Vice President Mike Pence, certain top members of Congress, and certain heads of various Executive Branch departments, from receiving any money from the stimulus package, whether directly or via loans.
Trump, for his part, has ceded direct control of the properties he, his family, and his organization own, putting his sons, Donald Trump Jr. and Eric, in charge.
The Trump Organization owns multiple hotels and clubs, and of the seven most-profitable ones, six are now closed.
As The Washington Post reported this week, the organization’s clubs in Las Vegas; Doral, Florida; Ireland; and Turnberry, Scotland; as well as the Mar-a-Lago club in Florida and his golf club in Bedminster, New Jersey are all closed. Many of those clubs were closed on orders from the governors of the states where they’re located, while others closed under pressure from local officials.
Collectively, the revenue from those clubs amounts to $174 million per year, according to an analysis by the Post. That means that the Trump organization is losing a little less than half-a-million dollars per day as his clubs and hotels are shuttered.
A club that remains open in Aberdeen, Scotland, may yet be forced to close, as United Kingdom Prime Minister Boris Johnson is requesting that “non-essential” businesses shut down. And even if the club didn’t shut down, since Britons are being asked to stay in their homes, there would be fewer people patronizing them.