Stimulus deal prevents Trump companies from making loans to the Treasury Department
The ban extends to the children, spouses and step-parents of one of these officials.
In a letter to Democratic senators that went to the press, Senate Minority Leader Chuck Schumer touted the ban as one of the “significant improvements” made to the stimulus package in negotiations.
The provision was part of the largest and most sweeping emergency aid package in U.S. history, which is expected to pass the Senate on Wednesday. The House – at some point in a day or two – is expected to follow suit.
Trump’s businesses also appear to have suffered from coronavirus downturns and shutdowns. Prior to his inauguration in 2017, Trump passed control of the Trump organization to his sons. However, he did not divest his assets in the company.
The law prohibits Trump companies from a basket of Treasury Department loans, loan guarantees, and other investments, but it does not prevent employees of the Trump Organization from receiving unemployment benefits.
The Trump organization did not immediately respond to a request for comment from CNN.