Trump Plans For “Very Dramatic” Bailout For Oil & Hotel Industries
President Donald Trump announced Wednesday there would be a new aggressive plan to avoid a recession. “I will be here tomorrow afternoon to let you know about some of the economic steps we’re taking, which will be major,” he said.
The announcement came as a surprise of many, including his own advisors. Trump mentioned a few possibilities of what the plan will entail. “We’re also talking to the hotel industry. And some places, actually, will do well, and some places probably won’t do well at all. But we’re working also with the hotel industry.” This would pose a conflict of interest considering Trump’s family is in the hotel industry.
The Washington Post reported that also included in the plan is a consideration of “a bailout for oil and gas producers.” According to Bloomberg News, Trump also reportedly told Republican senators that he was considering adding “a payroll tax holiday.” However, the meeting concluded “without any concrete plan.” Much is still uncertain of this plan.
Scoop: Trump told Republican senators in private lunch that he wants a payroll tax holiday *through the November election,* sources tell me. He doesn’t want taxes to go back up before voters decide whether to return him to office. Story out soon.
— Jennifer Jacobs (@JenniferJJacobs) March 10, 2020