Tags: trump | federal | aid | economy | virus

Trump Promises Federal Aid Until Economy Recovers From Virus

Trump Promises Federal Aid Until Economy Recovers From Virus

Friday, 20 March 2020 03:31 PM EDT

President Donald Trump promised to keep pushing for more federal spending until the economy recovers from the coronavirus outbreak, and said Americans can expect “much more” than $1,000 checks from the government.

He said at a White House news conference on Friday that if “there’s not enough money” in a stimulus bill currently under debate in Congress, “we’ll do something later, I’m sure.”

Trump and Treasury Secretary Steven Mnuchin have advocated for the bill to include direct payments to American families.

“We’re not talking about a thousand dollar check, we’re talking about much more than that,” he said.

He assured Americans that the economy would quickly get back on its feet after the virus outbreak subsides, though he acknowledged there may be large U.S. job losses in the near term.

“Once we get the economy back,” Trump said, “It’s gonna all come back to us very quickly.”

In a wide-ranging news conference:

  • Trump said that loan payments on federally-held student loans could be suspended for 60 days without penalty as the economy is hit by the coronavirus. He also said the federal government would waive requirements for standardized tests of school-aged children as schools have been shuttered in many states.Of the loan payments, the president suggested the grace period could be extended if necessary. “That’s a big thing,” he said. “That’s going to make a lot of students very happy”
  • Trump said he may yet take Carnival Corp. up on its offer to use its cruise ships as hospitals to relieve coronavirus-related strain on the health-care system. But he said they weren’t needed now. “If we need it, we’ll let you know,” Trump said, recounting a conversation with Carnival Chairman Micky Arison. “Right now, we don’t need it.” On Thursday, Carnival announced its offer to turn its vessels into floating hospitals with as many as 1,000 rooms, capable of treating non-Covid-19 illnesses. The company said it would charge only enough to cover its “essential costs” for providing the ships.  Carnival ships from the company’s Princess and Costa divisions were among those hit by outbreaks. In the most dramatic case globally, more than 700 people came down the virus while sailing on a Princess ship off Japan and were quarantined. It wasn’t clear how safe the ships on offer would be, given the ease with which previous outbreaks spread. Even if the vessels were to turn away known coronavirus cases, many with the virus show few or no symptoms.
  • Trump said he only wants Americans who have “a problem” to be tested for coronavirus and dismissed reports that many people who suspect they’re ill can’t obtain a diagnosis. “We don’t want every American to go out and get a test,” Trump said, and complained that his administration had “inherited an obsolete, broken system” for testing that wasn’t prepared for the outbreak. Asked about widespread complaints from Americans who suspect they’re ill but haven’t been able to receive a test, Trump replied: “I’m not hearing it.”
  • Trump said Friday he did not want the federal government to compete with states in bids for medical equipment as jurisdictions all scramble to find the necessary supplies to deal with the coronavirus. “If there’s a conflict, they will call us and we will drop our bid,” the president said. On a teleconference call Thursday, governors told the president that after he suggested they seek their own medical supplies earlier in the week, suppliers had canceled orders with state governments for better bids from the federal government. “I’ve got to tell you that on three good orders, we lost to the feds,” Massachusetts Governor Charlie Baker, a Republican, told Trump. “I’ve got a feeling that if someone has the chance to sell to you and to sell to me, I am going to lose on every one of those.” New Mexico Governor Michelle Lujan Grisham also said her state had experienced canceled orders as well and prodded the president to have the federal government coordinate the national scramble to buy vital equipment.

© Copyright 2026 Bloomberg News. All rights reserved.


StreetTalk
President Donald Trump promised to keep pushing for more federal spending until the economy recovers from the coronavirus outbreak, and said Americans can expect "much more" than $1,000 checks from the government.He said at a White House news conference on Friday that if...
trump, federal, aid, economy, virus
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2020-31-20
Friday, 20 March 2020 03:31 PM
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