Trump says he will back specific relief measures hours after halting talks

Source: The Hill | October 6, 2020 | Tal Axelrod

President Trump late Tuesday signaled he would support specific measures on stimulus checks, help for the airline industry and small business loans, hours after cutting off bipartisan talks for more coronavirus relief.

“The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!” Trump tweeted Tuesday, referring to the coronavirus stimulus package passed in March. 

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Both provisions were included in stimulus negotiations that were being held between the administration and congressional Democrats that Trump scrapped Tuesday.

Later, Trump tweeted that he would also sign a bill that would give some Americans $1,200 stimulus checks, tagging top negotiators in the post.

The messages come after stocks nosedived after Trump pulled the plug on talks for a broader stimulus agreement. All three major stock indexes lost solid gains from earlier in the day and fell into negative territory after the announcement.

The Dow Jones Industrial Average closed with a loss of 375 points, roughly 1.3 percent, the S&P 500 closed with a loss of 1.4 percent, and the Nasdaq composite closed down roughly 1.6 percent.

The airline industry also grumbled over the announcement as their stocks sharply dropped.

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