President Trump hasn’t dominated out further financial aid for states and cities grappling with the coronavirus pandemic, so long as it doesn’t represent what he considers a “bailout,” White Home financial adviser Kevin Hassett mentioned Friday.
Mr. Hassett mentioned that administration officers are monitoring real-time financial circumstances in states which have begun to carry stay-at-home orders and have allowed companies to reopen. It’s too quickly to know whether or not the $three trillion in spending Congress has licensed over the previous couple of months will likely be sufficient to take care of the disaster, although officers ought to have a greater concept in a couple of weeks, he mentioned, including that he believes the early information are encouraging.
“We’ve hit the financial system with a large constructive stimulus and now we’re going to see the way it’s working,” Mr. Hassett mentioned in a web-based question-and-answer session with The Wall Road Journal. “The president is completely open to negotiating one other coverage response, however we would like it to be data-driven; we don’t need to be flailing about blindly.”
House Democrats unveiled a plan this week to supply roughly $1 trillion to assist cities and states plug gaping price range deficits within the coming months as their tax income plummets and spending on safety-net applications will increase.
Whereas Republicans in Congress have balked on the request, Mr. Hassett mentioned Mr. Trump is open to discussing extra money for states, however he mentioned “the one factor he has taken off the desk is fixing outdated issues.”