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Treasury Secretary Mnuchin wants to redirect $580 billion of unspent stimulus money to prop up small businesses and extend unemployment benefits

FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before the Senate Finance Committee during a hearing on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo

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Treasury Secretary Steven Mnuchin wants to redirect unspent stimulus money into the American economy, he said on Thursday evening.

“I hope that Congress will seriously consider reallocating $580 billion of funds that have already been appropriated that wouldn’t cost taxpayers an additional penny,” he told Bloomberg. The pool of funds includes money appropriated by Congress through the CARES Act in March.

Mnuchin suggested the unspent money could be used to extend unemployment benefits and assist hard-hit small businesses in travel, entertainment, and restaurants. The move would require congressional approval.

“I believe it will have a significant details ⇒

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