President Trump wants a coronavirus bailout for the hotel industry. What a weird coincidence that the Trump Organization is part of that industry
Photo: Chip Somodevilla/Getty Images Yesterday evening, President Trump held a press conference and announced he would soon unveil an aggressive plan to head off a recession. “I will be here tomorrow afternoon,” he promised, “to let you know about some of the economic steps we’re taking, which will be major.”
At his press conference, Trump mentioned a few possibilities for what this package might include. One item is a bailout for owners of hotels. “We’re also talking to the hotel industry. And some places, actually, will do well, and some places probably won’t do well at all. But we’re working also with the hotel industry.”
Today more details of Trump’s hastily emerging plan have leaked out. The Washington Post reports Trump is “strongly considering a bailout for oil and gas producers.” The president and his advisers “have been taking calls since Monday from concerned energy sector allies.” You might wonder what the energy sector has to do with the coronavirus. The answer is, almost nothing! They’re in trouble because Russia and Saudi Arabia are ramping up production and cutting into their market share.
Meanwhile, Trump is agitating for a payroll tax holiday, which is a controversial measure — it does nothing to help people who aren’t collecting paychecks — but would at least inject some demand into the economy. But he cannot help himself from framing his proposal in the most self-serving way possible:
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