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Trump suggests vetoing coronavirus relief bill without $2000 stimulus checks

By Aman Jain. Originally published at ValueWalk.

Coronavirus, stimulus checks, Trump, $600, $2000

Congress passed the coronavirus stimulus package late Monday night. Treasury Secretary Steve Mnuchin has already said that people would start getting stimulus checks as soon as next week if all things go as planned. However, you may still not get coronavirus stimulus checks that soon because President Donald Trump has suggested turning down the bill if it doesn’t include $2000 direct payments.


Q3 2020 hedge fund letters, conferences and more

Trump wants $2000 in coronavirus stimulus checks

Congress has passed a $900 billion coronavirus stimulus package, which includes $600 in stimulus checks, as well as $600 dependent payments. Trump, however, wants Congress to raise the stimulus checks amount from $600 to $2,000 per individual.

“It’s called the COVID relief bill, but it has almost nothing to do with COVID,” Trump said in a video posted on Twitter Tuesday night. “I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000, or $4,000 for a couple.”

Though Trump did not outright threaten to veto the bill, he chose harsh words to criticize it, such as “disgrace.” Trump was expected to sign this bill along with the $1.4 trillion spending bill to keep the government running. He also asked Congress to remove “wasteful and unnecessary items from this legislation.”

CNBC, however, says that Trump won’t be able to veto the bill. This is because the bill passed both houses with veto-proof majorities. So, “Trump is powerless to raise direct payments from $600,” the report says.

This means eligible Americans would get $600 stimulus checks, and those who might be hoping for $2,000, shouldn’t get their hopes up yet. Any attempt from Trump to veto the bill could only result in delaying Mnuchin’s plans to send out the stimulus checks next week.

Could there still be $2000 checks?

Trump may not be able to veto the bill, but there are still chances that you may get more in stimulus payment. Several top Democrats, including House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, are in favor of $2,000 stimulus money.

“Democrats are ready to bring this to the Floor this week by unanimous consent. Let’s do it!” Pelosi said in a tweet.

We spent months trying to secure $2000 checks but Republicans blocked it

Trump needs to sign the bill to help people and keep the government open and we’re glad to pass more aid Americans need

Maybe Trump can finally make himself useful and get Republicans not to block it again

— Chuck Schumer (@SenSchumer) December 23, 2020

A CNBC report, citing a top Democratic aide, says that Democrats may introduce a standalone bill on Thursday for $2,000 in stimulus money. However, it isn’t clear if this bill would get support in the Senate, or even unanimous support in the House. Also, it isn’t clear if this standalone bill would be in addition to the $600 checks, or replace it.

Trump and top Democrats are not the only ones who feel $600 stimulus checks are way too low. Billionaire Mark Cuban also feels that $600 “isn’t enough.” Others, including Twitter and Square CEO Jack Dorsey and Kevin O’Leary, Cuban’s fellow investor on “Shark Tank,” also criticized $600 checks.

“Incredibly disappointing and increasingly irrelevant,” Dorsey tweeted.

The post Trump suggests vetoing coronavirus relief bill without $2000 stimulus checks appeared first on ValueWalk.

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