Mnuchin: States Can Take Out Loans to Cover Revenue Lost to Pandemic

'With interest rates very, very low, states can borrow this money'

Secretary of the Treasury Steve Mnuchin at a media conference in the White House briefing room in Washington on Jan. 10, 2020. Charlotte Cuthbertson/The Epoch Times

Treasury Secretary Steven Mnuchin says states encountering financial difficulties should take advantage of low-interest rates and borrow money to cover losses brought on by the pandemic.

Mnuchin said President Donald Trump and Republicans won’t support aid for states to cope with financial issues that are unrelated to the CCP (Chinese Communist Party) virus outbreak. He said those states should get a loan from the Federal Reserve.