MNUCHIN: Trump Looking to Boost Restaurant and Travel Industry

According to Treasury Secretary Steven Mnuchin, President Trump is looking for creative ways to boost the hard-hit travel and restaurant industry.

According to The Hill:

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, according to a Reuters report.

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“The president’s also looking about ways to stimulate travel,” Mnuchin said during an appearance on Fox Business Network, according to the report.

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.

The 5th round of stimulus is being discussed in Congress with Democrats wanting aid for state and local government and Republicans wanting protections from liability for business owners who decode to reopen.

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