Surprise! Trump Hotels 'Qualify' For Coronavirus Bailout

[babylonsister]

4/08/20 12:57pm
Read time: 7 minutes
Surprise! Trump Hotels 'Qualify' For Coronavirus Bailout
The bailout package includes some suspicious language benefitting the grifter-in-chief.
By ProPublica
ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.


snip//

The president has said it’s not clear to him even how his company could benefit.

“I mean, I just don’t know what the government assistance would be for what I have,” he said in a recent White House briefing.

We had the same question: What are the ways the Trump Organization could benefit from the bailout?

So we’ve dug into it.

First, at least four of Trump’s hotels each seem to qualify for a separate, forgivable loan…

The bailout has a huge loan program to help many businesses with payroll and other costs. While it’s only open to smaller companies, there’s a carveout for hotels: As The New York Times reported, the law says individual hotels can each qualify for separate loans, even if they’re all owned by a single company, so long as the hotel itself has 500 or fewer employees.

The provision was pushed by a hotel industry group, which argued it was needed for 33,000 hotels to qualify for the bailout. The group, of which some Trump hotels are members, organized a meeting between hotel CEOs and Vice President Mike Pence in mid-March to discuss the industry’s struggles and ask for help.

Each small business — and each hotel — can qualify for up to $10 million in loans, depending on payroll costs. The loans can then be forgiven if the money is used to cover payrolls and other ongoing expenses.

Four Trump hotels appear to qualify: two that Trump owns and two that his company manages.

more...

https://crooksandliars.com/2020/04/surprise-trump-hotels-qualify-coronavirus

[mr_lebowski]

1. Well ... as long as it legitimately only covers payroll and the other program rules are followed

And I mean to a T ... I'd say overall I'd rather that the workers at the hotels get paid and keep their jobs ... much as I hate the shithead.

[Takket]

2. i thought the bailout bill specifically forbade drumpf properties from getting $???