Trump Says He'll Approve Standalone Stimulus Bill on $1,200 Direct Payments

By Dana Cruz First Posted: Oct 07, 2020 03:14 AM EDT

(Photo by Chip Somodevilla/Getty Images)

President Donald Trump unexpectedly ended stimulus negotiations Tuesday, worrying many Americans who waited for a new round of direct payments.

But by late Tuesday night, Trump said in a tweet that he was willing to sign a standalone stimulus bill that grants $1,200 direct payments and assistance to small businesses.

Both direct payments and small business aid are likely to come in a bigger stimulus, but Trump hoped to get just these two provisions specifically.

"If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY," he wrote in a tweet. "I am ready to sign right now. Are you listening Nancy?" referring to House Speaker Nancy Pelosi.

Before this tweet, Trump was putting off stimulus negotiations until after Election Day. He said he planned on taking on a "major stimulus bill" if he is reelected on November 3, said NBC/CW+ affiliate WWLP.

"I have instructed my representatives to stop negotiating until after the election," he wrote in his tweet.

The announcement took a major toll on U.S. stocks, which plummeted with stopping stimulus talks.

Pelosi and Treasury Secretary Steven Mnuchin were set to talk again on Tuesday afternoon. So far, talks between these two parties have been held privately. Both sides of the negotiations remained about $600 million apart as of Tuesday.

Direct Payments

Despite the great difference in their parties' price tag, both Pelosi and Mnuchin favored direct payments. They both said it would be part of any approved stimulus package.

Trump said he was ready to sign a separate piece of legislation that can give American taxpayers $1,200 in direct payments.

In his tweet, he tagged key negotiators in the stimulus talks: Pelosi, White House chief of staff Mark Meadows, House Majority Leader Kevin McCarthy, Senate Majority Leader Mitch McConnell, and Senate Minority Leader Chuck Schumer.

It was a striking turnaround for the president to do after his abrupt announcement.

Small Business Aid

In the coming weeks, major airlines are expected to lay off thousands of workers. The administration is under a great deal of heat to strike a stimulus to prevent these layoffs.

He expressed his support for the provisions in his late-night tweets. He also urged both parties to support his proposal, said a Business Insider report.

"The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business," he wrote.

He said he would "sign now" if the bill were presented to him.

Signing the Stimulus Bill

Pelosi claimed Trump was showing his "true colors" for delaying talks on the stimulus. She said the president was "putting himself first at the expense of the country."

She believes the president's move to walk away from the stimulus talks until after the election showed that he was "unwilling to crush the virus."

Trump countered Pelosi in a statement released earlier that day. He said the GOP made a "generous offer" of $1.6 Trillion Dollars but blamed Pelosi for the talks going awry.

He accused Pelosi of "not negotiating in good faith."

"I am rejecting their request, and looking to the future of our Country," he said in a statement, referring to Democrats' stimulus offer.

For now, Trump instructed McConnell to focus full time on approving his Supreme Court nominee Amy Coney Barrett.