Trump calls on Congress to approve $2,000 stimulus checks
On Tuesday, President Donald Trump urged Congress to amend the recently approved COVID Relief Act to increase stimulus checks from $ 600 for individuals and $ 4,000 for couples to $ 2,000.
JULIE HYMAN: But let's start with the economic stimulus agreement that was passed by Congress and is waiting to be signed by President Trump. Until last night, he said that these stimulus checks were not big enough in the bill. Remember there is $ 600. He says no, they must be $ 2,000. So what happens now Our Rick Newman is just coming to us. President Trump has been pretty calm throughout the process. He seems more fixated on what's going on with the elections. And let's actually play a little bit of what he had to say about this whole situation.
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- I am asking Congress to amend this bill and increase the ridiculously low $ 600 to $ 2,000 or $ 4,000 for a couple. I also urge Congress to immediately get rid of the wasteful and unnecessary elements of this legislation and send me an appropriate invoice, otherwise the nearest administration will have to deliver a COVID aid package. And maybe I am this administration. The administration won't be him, to be clear. He had to throw that in there, didn't he? But, Rick, I'm sorry. So is it even possible for Congress to go back to the drawing board and increase stimulus checks?
RICK NEWMAN: Well, one thing Trump didn't say is that he's going to veto that bill. And he said he would veto other bills. So it's likely that this is just some kind of attention grabbing stunt. He wants to remind everyone that he's still there. Someone should have told Trump they could have asked for that $ 2,000 incentive instead of $ 600 while Congress was actually negotiating the legislation. He actually has the opportunity to have a say in what is in this bill. Of course he didn't have much to say. And his own Treasury Secretary was the one who advocated the payment of $ 600.
Now Trump says he wants a $ 2,000 payment. Democrats have taken this up. You said, OK, we can do that. We can bring that up to $ 2,000. However, it is unlikely that the maneuvering that would make this happen will take place. My best guess, Julie, is Trump Bloviates and says that bill is terrible. But either he signs it or it goes into effect without his signature, which can happen. But I would say there is a 30%, 40% chance that this bill will actually fail. And it is plausible that if Trump fails to do this, he'll stand around for a couple of weeks and Joe Biden will do it once he takes office on January 20th.
- Rick, I'm following all of your work on the Trump administration. And you got a vast majority of it right. But you admit in a new article that Yahoo Finance is on the verge of actually getting one thing wrong. What was it?
Rick Newman: Yeah. I mean, if you're a true Trump critic, it's only fair to go back and say how you did when you predicted things would happen. I predicted that Trump would lose almost a year ago, even before the pandemic. But when we had the pandemic, I thought Trump was really going to falter. I thought he would lose with maybe only around 100 votes. And that didn't happen. We actually had a very narrow choice.
Trump has a large part of the American electorate under control that is difficult to explain. Presidents in recessions usually lose a lot. And Trump hasn't lost much. And he will take that following into his political afterlife, if you will, as soon as he leaves office on January 20th. So we will deal with Trumpism for a long time. And that's exactly what the snack is here.
JULIE HYMAN: Yeah, for better and for worse.
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