Mnuchin says Trump looking at ways to boost travel, restaurant industries
Treasury Secretary Steven Mnuchin on Monday said that more assistance could be needed for the travel and restaurant industries and that the administration is eyeing ways to boost both, which have been hammered by the coronavirus pandemic.
“The president’s also looking about ways to stimulate travel,” Mnuchin said during an appearance on Fox Business Network, according to the report. “We want people to travel safely, to be able to visit places safely.”
He added, “As the economy opens up, I think you’ll see demand coming back,” referring to domestic travel, and said that it’s “too hard to tell” when international travel will reopen.
Mnuchin also said that Trump wants tax changes so that business entertainment expenses can be fully deductible in an effort to get people back to restaurants when the economy reopens.
Congress is looking ahead to a potential fifth coronavirus relief package, which Democrats are pushing to focus on relief for state and local governments and Republicans are pushing to include liability protection for employers who wish to reopen. Mnuchin indicated on Monday that bipartisan conversations are taking place on the legislation.
“We’ve put $3 trillion out, if we need to put more money out to support American business and American workers, the president’s absolutely prepared to do that,” Mnuchin said. “We’re also going to take into account what the economic impact is as we open up the economy.”
The Senate will return to Washington on Monday, but the House remains out due to the pandemic.
Updated at 12:59 p.m.