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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