Logo
Thursday, 02 April 2020
Logo
The News and Media Division of The Insight Partners
Wednesday, 11 Mar 2020 12:00 pm

Measures against Coronavirus to Bolster in the U.S. as cases mount

“We had a good reception on Capitol Hill. We’re going to be working with Republican and Democratic leadership to move a legislative package,” Vice President Mike Pence, who is leading the White House’s coronavirus task force, told a White House briefing.

newsImage
 

As U.S. coronavirus cases rose steadily, the White House and Congress negotiated measures on Tuesday to bolster the U.S. economy and Americans’ paychecks against the outbreak’s impact, although there was no immediate sign of a deal.

The rise in the number of U.S. cases of COVID-19, a highly contagious and sometimes fatal respiratory illness, has concerned health officials and spurred calls within Congress for action to expand testing and avert an economic meltdown.

“We had a good reception on Capitol Hill. We’re going to be working with Republican and Democratic leadership to move a legislative package,” Vice President Mike Pence, who is leading the White House’s coronavirus task force, told a White House briefing.

Almost three-quarters of U.S. states have confirmed cases of COVID-19. A running national tally kept by the Johns Hopkins University center tracking the outbreak puts the number of cases at 1,025, with 28 deaths. Washington state’s governor warned of tens of thousands more cases without “real action,” and New York’s governor deployed National Guard troops as a containment measure in a hard-hit New York City suburb.

U.S. stocks rebounded in their largest daily gain since late 2018 on hopes that a government stimulus package was in the making. In Asia, though, on Wednesday, Asian shares and Wall Street futures fell as growing scepticism about Washington’s stimulus knocked the steam out of the rally.

A central feature of the administration’s legislative proposal is payroll tax relief, although the extent and duration of the proposal were unclear.

White House officials have also said the administration could undertake executive action to help small businesses and workers, including those who do not receive paid sick leave.

Trump is scheduled to meet with bank executives at the White House on Wednesday.

U.S. Treasury Secretary Steven Mnuchin, who is leading negotiations on behalf of Republican President Donald Trump, met with Democratic House Speaker Nancy Pelosi to discuss a possible deal.

“We’re going to work together on a bipartisan basis to figure out how we can get things done quickly that are going to help the Americans that are most impacted by this and small and medium-sized businesses that are impacted,” he said.

Read here

Tags Coronavirus United States Economy Stocks Donald Trump

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

media@smartmarketnews.com | sales@smartmarketnews.com

Contact Us
Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
Follow Us:
© The News and Media Division of The Insight Partners 2019 | All Rights Reserved | Privacy Policy