President Donald Trump tweeted Tuesday that he's directed Republicans to end negotiations over a second stimulus bill and not resume them until after the Nov. 3 presidential election. Trump, who is undergoing medical treatments for COVID-19 after testing positive last week, said he's rejecting House Speaker Nancy Pelosi's request for economic aid.
The Democratic-led House passed a second stimulus package for $2.2 trillion on Thursday. Meanwhile, Pelosi and Treasury Secretary Steven Mnuchin had been in talks to try to reach an agreement on aid. The president claimed the Democrats' requested money would be used to "bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19." The House's economic relief bill includes, among other things, a second stimulus check and enhanced unemployment benefits for people across the US. (Here are more details about the negotiations and what that means.)
Trump added that he's instead asked Senate Majority Leader Mitch McConnell to "focus full time" on getting his nominee to the US Supreme Court, Amy Coney Barrett, approved.
Although Trump's posts said that the stock market is at "record levels," the Dow dropped almost 400 points following his announcement that he directed stimulus talks to end.
Read more: Stimulus check talks on hold: 10 things to know today with Trump pausing negotiations
The president's announcement comes despite a pro-stimulus tweet from three days ago while he was hospitalized at Walter Reed National Military Medical Center. "Our great USA wants and needs stimulus. Work together and get it done. Thank you!"
The first stimulus payment sent out in March was for up to $1,200 per adult. But should a second stimulus package get approved, that check could be larger or smaller, depending on whether your financial circumstances have changed or if the qualifications for dependents are broadened.