(NBC)—President Donald Trump will not be eligible for any federal assistance for his businesses as part of the coronavirus stimulus package that the Senate agreed upon early Wednesday morning, Senate Minority Leader Chuck Schumer, D-N.Y., said in a letter to Democratic senators summarizing the bill.
In his summary, Schumer said that the bill will include a provision to “prohibit businesses controlled by the president, vice president, members of Congress, and heads of executive departments from receiving loans or investments from Treasury programs.”
That measure came out of negotiations on a portion of the bill providing $500 billion in loans to distressed industries. That fund would be under the Treasury Department’s control and could include bailout payments to hard-hit businesses like hotels and cruise lines.
It was not immediately clear whether that prohibition also applied to those individuals’ immediate family members, like children, spouses and in-laws.
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