Donald Trump announced Tuesday he has ordered his team to halt negotiations on the next fiscal stimulus package until after the general election. He then promised the nation he intends to "pass a major Stimulus Bill" following—what he predicts to be—his victory. (Trump is currently trailing Democratic presidential nominee Joe Biden by 16 points in a CNN national poll.)
"I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business," the president tweeted.
Trump also confirmed he had rejected Democrats' $2.4 trillion stimulus proposal, and specifically took aim at Speaker of the House Nancy Pelosi. POTUS accused the Democratic leader of "not negotiating in good faith," as she proposed a coronavirus relief package that included "bailouts" for "poorly run, high crime, Democratic States, money that is in no way related to COVID-19."
Trump also said he has urged Senate majority leader Mitch McConnell to go forward with the confirmation hearings for his Supreme Court nominee Amy Coney Barrett.
You can read his tweets below.
Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19. We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith. I am rejecting their...— Donald J. Trump (@realDonaldTrump) October 6, 2020
...request, and looking to the future of our Country. I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business. I have asked...— Donald J. Trump (@realDonaldTrump) October 6, 2020
...@senatemajldr Mitch McConnell not to delay, but to instead focus full time on approving my outstanding nominee to the United States Supreme Court, Amy Coney Barrett. Our Economy is doing very well. The Stock Market is at record levels, JOBS and unemployment...— Donald J. Trump (@realDonaldTrump) October 6, 2020
...also coming back in record numbers. We are leading the World in Economic Recovery, and THE BEST IS YET TO COME!— Donald J. Trump (@realDonaldTrump) October 6, 2020
The tweets were posted just a day after Trump returned to the White House after being hospitalized with coronavirus at Walter Reed Medical Center. His message also comes on the same day Federal Reserve Board Chairman Jerome Powell called on Congressional leaders to pass a robust stimulus package to avoid an economic disaster.
"Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses," Powell said during a virtual meeting hosted by National Association for Business Economics. "Over time, household insolvencies and business bankruptcies would rise, harming the productive capacity of the economy, and holding back wage growth."
According to CNN, the Dow Jones Industrial Average dropped more than 300 points—a 1.1 percent loss—following Trump's posts on the stimulus negotiations. The S&P 500 and Nasdaq Composite were also down, 1.3 percent and the 1.4 percent, respectively.
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