Trump says $2.2 trillion coronavirus stimulus could balloon to $6.2 trillion
Trump signed the bill into law on Friday after it passed the House on a voice vote
March 27, 2020 - 7:04pm
The Facts Inside Our Reporter’s Notebook
President Trump on Friday said the economic stimulus bill that he was signing into law could total $6.2 trillion, instead of the original pricetag of $2.2 billion.
"It’s twice as large as any relief ever signed," Trump said at the White House signing ceremony. "It’s $2.2 billion, but it actually goes up to 6.2 — potentially — billion dollars — trillion dollars. So you’re talking about $6.2 trillion-dollar bill," Trump said. "Now, I’m going to sign this, and it’s a great honor — $6.2 trillion. I’ve never signed anything with a 'T' on it."
Without specifying what the president was referring to at the signing statement, experts pointed to plans by the Federal Reserve and Treasury to use financial leverage on financing programs that could be worth $4 trillion, according to Treasury Secretary Steven Mnuchin.
"'We can lever up to $4 trillion to help everything from small business to big business get through the next 90 to 120 days as we win this war,'" Mnuchin said, CNBC reported. "The liquidity efforts come along with fiscal help that could be worth $2 trillion, according to statements from Mnuchin and Larry Kudlow, the National Economic Council director."
"I'm taking the smartest, most brilliant people in finance," Trump said during Friday's coronavirus task force briefing.
Watch the video below:
News, Not Noise
- George Floyd autopsy found 'no physical findings...of traumatic asphyxia or strangulation'
- Declassified transcripts add to evidence that FBI had no legal basis to interview Michael Flynn
- Roberts joins liberals as Supreme Court rejects church challenge to CA virus restrictions
- Top FBI lawyer resigns allegedly at request of Justice Department
- Denmark, Finland say they saw no increase in coronavirus after schools re-opened