President Trump, who has been telling voters that the US economy will leap back to life “like a rocket” after the coronavirus crisis is over, on Friday looked forward to a “really big bounce.”
“This week, in only 4 days, we had the biggest Stock Market increase since 1974,” the president said in a tweet. “We have a great chance for the really big bounce when the Invisible Enemy is gone!”
In another tweet, the president said Congress should approve a funding measure to help small business with no additions — as a partisan skirmish in the Senate cut short a GOP effort to speed its passage.
“Democrats are blocking a 251 Billion Dollar funding boost for Small Businesses which will help them keep their employees. It should be for only that reason, with no additions,” Trump said.
“We should have a big Infrastructure Phase Four with Payroll Tax Cuts & more. Big Economic Bounceback!” he added.
On Thursday, Senate Democrats blocked the legislation aimed at preventing layoffs during the coronavirus outbreak.
The move means Congress won’t pass an expansion of the Paycheck Protection Program, which is running out of funds, until next week at the earliest.
The Senate adjourned until Monday after Sen. Ben Cardin (D-Md.) objected to holding a unanimous voice vote.
The program gives companies with up to 500 employees — and in exceptions more — loans to cover payroll and overhead. The loans will be forgiven if they don’t lay off workers.