Tag Archives: Steve Mnuchin

Mnuchin: $600 Checks Will Start To Go Out Tuesday

CNBC reports: The Trump administration began sending stimulus payments of up to $600 to millions of Americans Tuesday evening as part of the recently passed Covid relief bill, the second such direct payment to Americans amid historic unemployment and ongoing business closures. The second round of payments will be distributed automatically in the following breakdown: up to $600 for eligible …

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How Insiders Got Trump To Cave On Stimulus Bill

Axios reports: Getting a cranky, stubborn President Trump to belatedly sign the COVID relief bill, after unemployment benefits had already lapsed, was like being a hostage negotiator, or defusing a bomb. The deal was closed on a Sunday afternoon phone call with Trump, Treasury Secretary Steven Mnuchin and House Republican Leader Kevin McCarthy. “This is good,” Trump finally said, an …

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Queens Man Bought Bentley With $2 Million Bailout

More Trumpian vetting by the Treasury Department: A Brooklyn man faces up to 20 years in prison after being accused of fraudulently securing $1.9 million in forgivable loans through the Paycheck Protection Program, using a portion of the funds to buy the most recent Bentley and Escalade vehicle, according to federal authorities. Leon Miles is accused of applying to the …

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Mnuchin: Stimulus Checks Will Go Out Next Week

Politico reports: Treasury Secretary Steven Mnuchin said a new round of economic stimulus checks will start being sent out next week — much faster than its previous batch of checks. “People are going to see this money the beginning of next week,” he said in an interview Monday with CNBC. “Much needed relief — and just in time for the …

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Mnuchin To Put $455B In COVID Relief Funding Into An Account That Successor Cannot Easily Gain Access To

Bloomberg News reports: Treasury Secretary Steven Mnuchin will put $455 billion in unspent Cares Act funding into an account that his presumed successor, former Federal Reserve Chair Janet Yellen, will need authorization from Congress to use. Mnuchin plans to place the money into the agency’s General Fund, a Treasury Department spokesperson said Tuesday. That fund can only be tapped with …

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GOP Battles Mnuchin On Stimulus Deal With Pelosi

The Washington Post reports: Senate Republicans are growing increasingly frustrated with Treasury Secretary Steven Mnuchin as he makes what they see as unacceptable compromises in his quest for a stimulus deal with House Speaker Nancy Pelosi, multiple people familiar with the talks said Thursday. Mnuchin has committed to a top-line figure of around $1.9 trillion, much too high for many …

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Mnuchin: Don’t Expect Stimulus Deal Before Election

The New York Times reports: Treasury Secretary Steven Mnuchin said on Wednesday that he did not expect an economic relief package to be enacted before the Nov. 3 election as he and Speaker Nancy Pelosi of California have continued to struggle to reach an agreement on a broad package to support the economy. Negotiators on Wednesday resumed discussions over a …

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Fox News: Steve Mnuchin Heard “Losers” Comments

Mediaite reports: Fox News national security correspondent Jennifer Griffin doubled down on her previous reporting which claimed President Donald Trump disrespected veterans and war dead, adding that Secretary of Treasury Steve Mnuchin was in the room with the president when he disparaged four-star generals. Griffin reported Mnuchin was at the Tank meeting in the Pentagon on July 20, 2017, when …

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Business Groups Rip “Unworkable” Payroll Tax Deferral

Politico reports: A raft of big-name business groups is warning many employers won’t participate in President Donald Trump’s payroll tax deferral plan. Calling it “unworkable,” they said in a letter Tuesday to Treasury Secretary Steven Mnuchin that it risks saddling their workers with large postponed tax bills they could have trouble paying back. Someone earning $35,000 would see their biweekly …

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Chamber Of Commerce Hits Mnuchin On Payroll Tax

From the US Chamber of Commerce’s letter to Mnuchin: The U.S. Chamber of Commerce appreciates the Treasury Department’s work in response to the COVID-19 pandemic, particularly the quick promulgation of guidance to ensure relief is quickly distributed to American businesses, families, and workers. While the recently issued Executive Order (EO) on payroll tax deferral is well-intended to provide relief, it …

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Mnuchin Warns That Americans May Have To Pay Back Payroll Tax Deferral If Trump Isn’t Reelected [VIDEO]

The New York Daily News reports: Treasury Secretary Steven Mnuchin on Sunday defended the legality of President Trump’s executive orders to provide financial help during the coronavirus — and said Americans would hold Democrats responsible for delaying the assistance if they challenge the actions in court. “We’ve cleared with the office of legal counsel all these actions,” Mnuchin said on …

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COVID Stimulus Talks Collapse, Trump May Act Alone

The Associated Press reports: A last-ditch effort by Democrats to revive Capitol Hill talks on vital COVID-19 rescue money collapsed in disappointment Friday, making it increasingly likely that Washington gridlock will mean more hardship for millions of people who are losing enhanced jobless benefits. “It was a disappointing meeting,” declared top Senate Democrat Chuck Schumer, saying the White House had …

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Mnuchin: $600 Unemployment Benefit Is “Overpaying”

ABC News reports: A last-ditch effort was mounted by Senate Republicans Thursday evening, with Majority Leader Mitch McConnell pulling back members — many had already left for home for the weekend — to vote on a plan that would cut the weekly federal benefit to $200, or two-thirds of lost wages. Democrats unanimously opposed the measure. While many Americans have …

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FL Man Bought Lamborghini With Bailout Funds: DOJ

Via press release from the Justice Department: A Florida man was arrested and charged with fraudulently obtaining $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a sports car for himself. Authorities seized a $318,000 sports car and $3.4 million from bank accounts at the time of arrest. David T. Hines, 29, of …

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DOJ Charges Man With Fraudulently Taking $8.5M In PPP Bailout, Spent Hundreds Of Thousands At Casino

Via press release from the Justice Department: A California man was arrested today and charged with fraudulently seeking over $8.5 million in Paycheck Protection Program (PPP) loans. Andrew Marnell, 40, of Los Angeles, California, was charged by criminal complaint, unsealed today upon his arrest, in the Central District of California with one count of bank fraud. The complaint alleges that …

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Mnuchin’s Ritzy LA Country Club Got Millions In Bailout

The Daily Beast reports: An exclusive California golf course that has counted Treasury Secretary Steven Mnuchin among its members is seeing plenty of the taxpayers’ green. The Riviera Country Club, located in a posh enclave of Los Angeles, received $2 million to $5 million in assistance through the Paycheck Protection Program—a multibillion-dollar initiative intended to carry small businesses and their …

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Multiple Trump Cronies Got “Small Business” Bailouts

The Wall Street Journal reports: The federal government’s Paycheck Protection Program designed to help small businesses weather fallout from the coronavirus pandemic helped a broad swath of organizations, including prominent restaurant chains, law firms and non-profits. Among the recipients the Trump administration disclosed Monday: Boies Schiller Flexner LLP, the law firm headed by antitrust litigator David Boies; Newsmax Media Inc., …

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Feds Lend $700 Million To Trucking Company Currently Being Sued For Overcharging The Feds For Shipping

One day we’ll learn who got the kickbacks: The Treasury Department on Wednesday approved a $700 million loan to YRC Worldwide, a financially-troubled trucking company that is also being sued by the Defense Department (DOD) for overpricing shipping costs. “We are pleased for Treasury to make this loan pursuant to the CARES Act,” Treasury Secretary Steven Mnuchin said in a …

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One Million Dead People Got COVID Stimulus Checks

The Washington Post reports: The federal government sent coronavirus stimulus payments to almost 1.1 million dead people totaling nearly $1.4 billion, Congress’ independent watchdog reported Thursday. The Washington Post previously reported that the Treasury Department and Internal Revenue Service disbursed some payments of up to $1,200 each to dead people. But the astonishing scope of the problem had not been …

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Wallace Grills Mnuchin: Are Your “Rosy Predictions” Based On Economic Reality Or The November Election?

“I’ve got to tell you, and I want to ask about a number of signs which indicate that the recovery is going to be much slower than that, sir. Job losses are not just in hospitality industry — airlines, restaurants, as you would expect — but they’re more widespread. “The white collar and government sector, 3 million Jobs lost. Major …

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