Trump reverses course on stimulus talks, open to $1,200 relief checks

(KYMA, KECY)- Just hours after using Twitter to call off all stimulus talks with Democrats until after the election and sending Wall Street into a tailspin, President Trump overnight appeared to backtrack and support some stimulus for the economy.

According to NBC News, that turn came after just hours after he killed discussions on a broader stimulus package until "after I win" the election.

Both moves by the president, who was released Monday from the hospital where he was being treated for Covid-19, were made on Twitter.

"If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy?" Trump tweeted Tuesday night.

He said in another tweet that he would approve funding for specific struggling industries, such as airlines and small businesses, which is short of what House Democrats proposed.

"The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!" Trump said.

Asked about the president’s proposal on Wednesday, House Speaker Nancy Pelosi dismissed it outright.

“All the president wants is his name on a check,” she said. “And that doesn’t — we’re here to honor our heroes, crush the virus, put money in the pockets of the American people beyond a check with his name on it.”

A senior administration official familiar with the president's thinking said Tuesday that a "large-scale stimulus package is on the sidelines," as Trump made clear earlier, saying the president felt it best not to string people along.

But the White House appears to be planning to push a series of smaller, individual packages on mutually agreed-upon items.