UPDATED: A handy chart to help you understand what's happening with the COVID bill.
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Trump should have vetoed it the minute it reached his desk.
This bill was a high stakes game of hot potato. Everyone knew that unemployment benefits expired on December 27. Whichever branch of government was left holding the bill when December 27 came around was going to be the loser.
If Trump had vetoed it on day one, he could have actually forced a revote. Instead now, he is using recession which, as other people have identified, Congress can ignore if they want and just wait 45 days...
You're not looking bigger picture. A veto is almost certainly overruled here. Veto the day they send it and they vote on it and overturn the veto the next day.
This is the best option of a lot of shitty options.
The Impoundment Control Act simply requires that the President deliver his rescission notice to Congress. There is no requirement that it be attached to a bill signing.
President Trump would have been able to use rescission against funding passed into law through a veto override.