President Donald Trump listens as Treasury Secretary Steven Mnuchin speaks about the coronavirus. (AP Photo/Alex Brandon, File)
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White House, Democrats closing on new $450B coronavirus package for small businesses, Trump and Mnuchin say
The White House and Democrats are inching closer to a deal that will replenish the $350 billion coronavirus emergency fund and the vote could happen as early as this week.
President Trump talked about $450 billion total package during his Sunday evening press briefing and told reporters that he thinks “you could have a nice answer tomorrow [Monday], but we’ll see.” U.S. Treasury Secretary Steven Mnuchin told CNN Sunday that he hopes the package will be voted on in the Senate on Monday, and pass the House on Tuesday.
Trump has released a three-phase strategy to reopen the country, sending the S&P 500 index up 28 percent since its low late last month. The U.S. economy has been stung by the coronavirus outbreak due to state shelter-in-place orders and concerns about a second wave once restrictions are lifted. Click here for more on our top story.
Other related developments:
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- Click here for Fox News' full coverage of the coronavirus pandemic
- Rep. Gaetz: 'Hypocrite of the House' Pelosi 'directly responsible' for death of US businesses
- Schumer defends adding demands to small business relief
President Donald Trump holds a swab that could be used in coronavirus testing as he speaks during a coronavirus task force briefing at the White House, Sunday, April 19, 2020, in Washington. (AP Photo/Patrick Semansky)
Trump announces coronavirus testing milestone
President Trump announced Sunday evening that the United States had passed a major coronavirus testing milestone, telling reporters that 4.18 million Americans have now been screened -- more than France, the U.K., South Korea, Japan, Singapore, India, Austria, Australia, Sweden and Canada combined.
Speaking at the daily White House coronavirus briefing, the president unboxed a swab testing kit and touted the new testing technologies that could fight the pandemic, even as he cautioned that some states "don't know where they are."
Trump then read at length from a piece in The Wall Street Journal praising him for implementing new partnerships with the private sector, and "vivifying the American way in action, once reluctantly aroused."
Faced with criticisms that he had idled while the coronavirus spread, the president pointed out that Fox News' Bret Baier observed that Democrats' February 19 presidential debate had not mentioned coronavirus at all. Rhetoric on coronavirus from Democrats, Republicans, and the media has changed dramatically since January. Click here for more.
Other related developments:
- ICYMI: Speaker Pelosi rips Trump as 'weak leader,' he’s failed on coronavirus response
- Navarro: China 'cornered' the personal protective equipment market, 'is profiteering' during outbreak
- Coronavirus in the US: State-by-state breakdown
Stock futures fall as oil plunges on demand drop
U.S. stock futures are trading lower as oil falls to 1999 levels.
Investors await additional coronavirus updates as more cities consider opening businesses in various phases as part of a broader plan to begin rebooting the U.S. economy. The Dow Jones Industrial Average traded down 157 points as of 3:00 a.m. ET while the S&P 500 was off 0.5 percent and the Nasdaq Composite was down 0.4 percent.
Oil remained under pressure, falling Monday over 18 percent to $14.89, after dropping 19.7 percent for the week. WTI touched an 18-year low of $17.31 on Friday before rallying into the close. Meanwhile gold fell 2.7 percent for the week to $1,689 per ounce. Click here for more.
Other coronavirus developments:
- Sweden sees jump in coronavirus deaths with less restrictive guidelines
- Mich. girl, 5, daughter of first responders, dies from coronavirus: report
- Coronavirus: What you need to know
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SOME PARTING WORDS
Steve Hilton reveals some questions he'd like to ask Dr. Anthony Fauci, member of the White House Coronavirus Task Force and director of the National Institute of Allergy and Infectious Diseases.
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