Mnuchin Says No Bailout for States With Badly Managed Budgets
- Trump questions whether U.S. should aid Democratic states
- Senator McConnell says states could file for bankruptcy
This article is for subscribers only.
Treasury Secretary Steven Mnuchin said states that had poorly managed budgets before the Covid-19 outbreak sent their economies reeling should not be rescued by the federal government.
“This isn’t just going to be a federal bailout of the states,” Mnuchin said early Tuesday on CNBC. “States that had specifically large expenses because of the coronavirus, like New York and New Jersey, it was the right thing that the federal government gave them money.”