she and steve mnuchin, he's holding and reserve that declaration. we learn from him precisely what is going on. i'm told that this hour. we are looking forward to his perspective and whether or not the president has approved a deal with the speaker. we are also taking up a number of other important issues including the coronavirus, also an element of pure coincidence or prescient prophecy by arthur dean koontz on the issue of the coronavirus, we wanted to bring to your attention. in his 1981 novel the eyes of darkness his plot line centers around something called wuhan 400, the perfect weapon with a 100% mortality rate that was developed by laboratories in his fictional novel outside the city of wuhan. writers went to great trouble to call claims on social media that he had predicted the current virus outbreak as partly false. whatever in the world that means. it was all fiction but the coincidence is fascinating and particularly interesting. we declare it partially true just to aggravate reuters. we will let you decide what you think period. it was

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steve mnuchin has been in constant contact with the speaker. he's at this moment in the white house speaking with the president. a deal in his opinion mass not been reached despite what the speaker has said. we'll have the latest from the treasury secretary here tonight. he will join us as soon as he concludes the talks with the president. and gets whatever direction he will from the president. this breaking news. the food and drug administration approving the use of a test that will expedite the test results for the wuhan virus. the test resultr is capable of testing 4,000 samples each day. it can be run on the roche machines installed on hundreds of laboratories across the country. president trump: using federal emergency authorities, the fda approved you a new test for the virus. we did this within hours of receiving the application from roche, a process that would normally take weeks. we expect up to a half million additional tests will be available early next week. we'll be announcing locations probably sunday night. lou: joining us tonigh

steve mnuchin is right, mr. mnuchin is right, only thing worse in this crisis if they closed new york stock exchange. there are some companies, some custodians seeing financial stress. we're seeing disruptions in the last 30 minutes of trading. booking trades in a rush toe either change or exit positions. but the new york stock exchange as a symbol of the financial markets needs to, kneads to remain open. just to point out, i have to bring this up, a lot of people tell me is this financial crisis? it is not the financial crisis that was a financial event that drifted over to the real economy this was basically a natural disaster. meteor hit the earth and commerce stops right now. that is what we have to get through and right now america needs a bridge loan. that is largely what you heard the administration trying to address today. trying to get you there the crisis and get money where it is needed most. deirdre: david, that's a great point. i've been asked a lot as well. what similarities you see this between 20

steve mnuchin has been in constant contact with the speaker. he's at this moment in the white house speaking with the president. a deal in his opinion mass not been reached despite what the speaker has said. we'll have the latest from the treasury secretary here tonight. he will join us as soon as he concludes the talks with the president. and gets whatever direction he will from the president. this breaking news. the food and drug administration approving the use of a test that will expedite the test results for the wuhan virus. the test resultr is capable of testing 4,000 samples each day. it can be run on the roche machines installed on hundreds of laboratories across the country. president trump: using federal emergency authorities, the fda approved you a new test for the virus. we did this within hours of receiving the application from roche, a process that would normally take weeks. we expect up to a half million additional tests will be available early next week. we'll be announcing locations probably sunday night. lou: joining us tonigh

anthony fauci and treasury secretary steve mnuchin. the pointman on the economic response. >>> plus, the powerhouse roundtable on the political fallout. >> announcer: from abc news, it's "this week." here now, chief white house correspondent, jonathan karl. >>> good morning and welcome to "this week." we want to get right to the latest developments on the coronavirus pandemic. there are now over 156,000 cases confirmed across the globe. and more than 5800 deaths. spain is now in lockdown. france and israel are closing restaurants and other nonessential businesses. and here at home, the numbers continue to climb. take a look at this map from last week, and now there are more than 2900 known cases in 49 states and washington, d.c. that's every state except west virginia. at least 59 deaths have been reported. our fight against an invisible enemy has turned life in america upside-down. mass gatherings put on hold. almost 26 million students are out of school and more and more of us are working from home. as our nation faces this crisis, o

steve mnuchin has been in constant contact with the speaker. he's at this moment in the white house speaking with the president. a deal in his opinion mass not been reached despite what the speaker has said. we'll have the latest from the treasury secretary here tonight. he will join us as soon as he concludes the talks with the president. and gets whatever direction he will from the president. this breaking news. the food and drug administration approving the use of a test that will expedite the test results for the wuhan virus. the test resultr is capable of testing 4,000 samples each day. it can be run on the roche machines installed on hundreds of laboratories across the country. president trump: using federal emergency authorities, the fda approved you a new test for the virus. we did this within hours of receiving the application from roche, a process that would normally take weeks. we expect up to a half million additional tests will be available early next week. we'll be announcing locations probably sunday night. lou: joining us tonigh

steve mnuchin may be talking about this. cory booker, others calling for a higher number, staggered. andrew yang wants $1,000 a month for everybody. what is a different consideration, romans? what do we know from history as to how people will use this money? >> they want to get money out there and working quickly. the other thing they're going to do, if you have to pay taxes on april 15th, they're going to push that to june 15th. they want people to keep their own money working for them. if you're going to get a refund, file your taxes to get that money. they're trying to keep the money in the system, the money in your pocket to use it. that shows you i think how this crisis revealed how on the margin so many people were, even in a strong economy. president called tt best economy in the history of the world. of course, it wasn't. it was a strong economy, though. it shows you how quickly this could turn and just really, when the tide went out, just how vulnerable so many people were. >> i don't understand, help me understand,

stuart: treasury secretary steve mnuchin, he is right know testifying on capitol hill. that's not him but previous he was testifying. what is he saying? susan: saying the coronavirus situation is like a hurricane and costs need to be picked up. also spending hundreds of billions of dollars can be put into the economy with deferred tax payments we've been talking about. a very effective way to aid companies without putting taxpayers at risk. he says airlines, he assumes airlines will be at the top of the list for some sort of help or stimulus. he feels strongly companies need to be protected but not bailed out. not like 2008. no tarp, not for gms and the like. during the global financial crisis. he says coronavirus, it is important to protect the u.s. economy and better coordinate with the imf, world bank as well on relief issues. stuart: maybe the use of the word hurricane used by the treasury secretary that pushed the market to a new low. ashley: that is a natural disaster, right?

larry kudlow here on the hill as well as steve mnuchin negotiating on behalf of the administration. senate majority leader mitch mcconnell has laid out a very ambitious timeline to get this done. by monday he would like to see this legislation on the floor. they're hoping to start drafting that later today. there's enormous pressure on all sides to get something done as the crisis worsens, fred? >> thank you so much. we'll check back with you. >>> now to a shifting strategy in two of america's largest cities. officials in new york city and los angeles are recommending health workers not test some potential coronavirus patients. the move comes as numbers in both cities continue to rise. i want to bring in dr. james

. >> thank you i'll just note treasury secretary steve mnuchin will join our jim cram erinmer in a w moments, at 11:00 a.m. eastern we'll bring in our next guest who owns several hotels, including the ritz and marriott, monty bennett joins us now on the cnbc news line thanks for being with us, monty. >> thanks for having me. >> we're hearing about plunging hotel occupancy rates. you have travel grinding to a halt, people hunkering down due to the coronavirus and concerns there. how is that playing out for your different properties in different parts of the country right now? >> we have about 130 properties across the country of all different segment types from mid scale-type properties like hampton ins up to ritz karlton and high end properties. i think what people are just starting to understand is not only is this affecting the hotel industry but it is far, far worse than the financial crisis or 9/11, and i never thought i'd say something like that, that a crisis would come close to those two. >> why why is that the case >> in those other situations, occupancies took a hit in the h

so steve mnuchin is going to be meeting with his colleagues on capitol hill. republican colleagues and try to work out some kind of deal. i think they feel it's important this thing starts in the republican-controlled senate where the white house has more control over this stimulus package compared to the last phase which originated in the house of representatives which is controlled by nancy pelosi and the democrats. >> scott, if you are somebody like us who watches the president every day at press kornss, comments, statements, you would notice there was a shift in his tone at the press conference yesterday, specifically talking about the coronavirus pandemic. what is the focus do you think of the white house as it now looks to keep the president on message after weeks of infighting over the administration's response. separate that away from what he's saying on twitter, but how would you rate his performance yesterday and his tone and demeanor at that news conference? >> yeah, i completely agree. there was a shift in his tone. he was serious, he was sober. he

pelosi and steve mnuchin but adding in mitch mcconnell and chuck schumer. they are instrumental here. you ultimately need to get 60 votes in the senate see need bipartisan compromise but neither will sign off unless they know it will pass the house. it is good that nancy pelosi and --utia have a relationship and steve mnuchin have a good relationship and you have a secretary that warm -- worn to to senatewarned republicans that the economic aspect could be great and we need to move faster than you can imagine. romaine: i wanted your thoughts on other issues going on outside of the legislation itself. we heard talk or steven mnuchin floated this idea of reducing rocket hours and there has been talk on wall street as to whether it would actually be a hindrance to close the market for a short period of time. are you hearing anything in washington from the regulators that this is an option. been market participation test them to consider this and you have to bifurcate equity markets from credit markets. there is a greater debate as to what you could do with equ

. >> reporter: treasury secretary steve mnuchin announced a $1.2 trillion stimulus plan including $300 billion for small business loans allowing people -- 90 days to pay and providing $250 billion in cash payments, the statement in the form of checks of $1,000 with likely income test to determine who needs the most. >> americans need cash now or in the president wants to get cash now and i mean in the next two weeks. >> reporter: with steve mnuchin warning congress unemployment at a whopping 20% with the stimulus package the senate gop is expected to coordinate with the white house to come up with a bill and begin negotiating with democrats but it is not all worrisome news. amazon announcing 100,000 new jobs across the country while increasing pay by $2 an hour encouraging people who have lost jobs in this crisis to apply until their old jobs come back. employees working 10 hour shifts to respond to the demand for customers their basic needs delivered to them so they don't have to go into a store. it is important to note amazon is focusing on necessary household staples, medical suppli

here in washington, one hour from now, congress's top four leaders will meet with steve mnuchin. it comes hours before the senate votes on a far-reaching economic stimulus package. and another briefing expected later this afternoon from the white house coronavirus task force. questions on likely whether president trump will enforce what is called the defense production act. so far he's resisted mandating companies to start making much-needed medical equipment. let's get started. lots of news going on. sarah westwood is joining us live from the white house. the treasury secretary, steve mnuchin, he's been in deep negotiations for this relief package. he's meeting with congressional leaders next hour. what do we now know? >> wolf, we know republican senate staffers are still drafting the text of this bill as we speak but democrats are not yet fully embraced any bipartisan bill on this stich stimulus. they're waiting to see the language in the legislation. republicans are afraid if the timeline of passing this legislation slips, the markets could be spooked. mitch mcconnell wants to

>> this is what the treasury secretary steve mnuchin is walking republicans through an election right now. i am told he wants to get $200 billion in direct payments to americans out the door probably by early april. senate majority leader mitch mcconnell says they need to act soon. this is what he implored senators to do when he spoke at the white house before he came to capitol hill just a bit ago. listen. >> americans need cash now and i may now in the next two weeks. >> the cost of this package is expected to be north of $850 billion total. to give you context, just the family leave portion of the bill the house approved early saturday morning was $104 billion. now in 2008 at cost $831 billion. white house director of legislative affairs met with senators last night and said it's important "not to be impeded by the price tag of the coronavirus measure and president trump is still pushing for a payroll tax holiday. republicans and democrats are skeptical of that idea. >> the proposal also does not include a payroll tax cut. that option may be premature in the wrong response to the p

steve mnuchin will say what? >> well, to go back to the bill that he's been working on with nancy pelosi, you know, leon panetta was talking about how important it is that you have a sense that everybody is pulling in the same direction, whether it's the president and the white house, whether it's the democrats in congress, whether it's the various governors and mayors around the country. seems to me it would send a very alarming signal if for all of the talk all week about congress was going to pass a bill, already been criticism in the senate because they decided to take the weekend off because they say we don't have a bill. now it looks like mitch mcconnell was pretty pressie as he has been so often. but after days of negotiations and nancy pelosi has made it clear she's going to bring to it the house floor. she needs a 2/3s vote which means she needs republicans and democrats. she just can't pass it with the democratic majority. if the president doesn't give the sign and the members of the house go home and t

senator schumer and treasure secretariy steve mnuchin are set to meet as we speak and the senate is expected to reconvene at noon. i want to go straight to garrett haake on capitol hill. where do things stand right now? all weekend long we heard we're getting closer, we're getting closer. i can't think of one single business leader or individual i know not begging for this thing to go through. >> yeah, steph, i think we'll see that come into action when the markets open. the negotiations continued late into the night last night between leader schumer and treasury secretary mnuchin. they're expected to meet again on the hill in moments. when the floor opens at noon we'll have a much better sense of where this goes. we'll hear from both leaders. if there is no deal we're liable to see a series of procedural votes that may yet fail again. the sticking points at this moment by democratic aides are a few things. they'd like to see more money for hospitals, more money for state and local governments, stronger protections for workers on expanded unemployment insurance and they want to see more tran

talk to you soon >>> let's get to capitol hill where elon caught up with treasury secretary steve mnuchin. elan >> reporter: the secretary tried to reassure markets and show the white house is working on a detailed economic response to the coronavirus outbreak,an even though it has become increasingly clear that their signature idea, the payroll tax cut is not winning over lawmakers here on capitol hill he tried to frame what happens through the end of the week as just a first step. >> i assure the american public we will have a full economic plan to deal with this, and i believe there will be bipartisan support. some of this stuff, okay, is complicated. this is moving forwards very quickly. so this will require multiple times coming back to congress. whatever we do kind of in the next 48 hours, that's just the first step we'll be back. >> so he did lay out a couple measures that treasury will be recommending to the white house, including extending the tax deadlines for individuals and businesses he said that could amount to a $200 billion short term stimulus he talked about loan guarante

>> this is optimism not just by nancy pelosi but also steve mnuchin. they entered the white house, and mnuchin said they briefed the president this morning, they talked to him twice, and they expect in the next few hours a deal to be reached. that is a similar line of optimism that came out of nancy pelosi's mouth just moments ago when she expressed she thought a deal could be done and done quickly today in the house. >> i think there is real optimism that we could get something done in the next few hours. >> reporter: so this is a shift from the last 48 hours or so when there had been a number of outstanding issues while both sides have been indicating things have been moving closer. things got extraordinarily tense yesterday, but they're expecting to get a deal and the senate majority leader now on the floor talking. we'll get a sense from him, too, whether he's behind this emerging proposal. >> this is majority leader mitch mcconnell speaking on the senate floor. we're going to monitor that if we hear news on these negotiations. let's listen in now.

i just finished a very productive meeting with secretary steve mnuchin, ÃÃ and mark meadows the president acting chief of staff. last night i thought we were on the five yard line, right now we are on the two yard line. as i also said last night, at this point of the few outstanding issues, i don't see any that can't be overcome within the next few hours. here are the things that we

steve mnuchin has been going back and forth all day long. >> garrett? >> yes? >> i'm going to jump in because speaker pelosi is at the podium now. >> and differ better coverage to more than 150 million americans with health insurance through their employer. we passed the affordable care act because we believe in the united states of america health care must have a right, not a privilege. the late senator ted kennedy made that belief the fight of his life. thanks to the leadership of president barack obama, thanks to the clear vision of our committee chairs crafting legislation and the keep courage of the members of congress, thanks to outside mobilization of patient advocacy groups protect our care and lobbyists and others, the affordable care act stands today. now we find ourselves in the depths of one of the serious economic emergencies our nation has ever faced. the protections of the affordable care act are more important now than ever. but right now in the middle of the coronavirus, the trump administration is in court suing to tear down the entire afforda

the president is determined to put money back in this economy. >> with steve mnuchin warning congress the unappointed rate that hit 20% without the stimulus package, they are coordinating with the white house to come up with a bill and the grocery with democrats but it is not worrisome news on the employment front, increasing pay by $2 an hour, they lost jobs in this crisis to apply until their old jobs come back. employees working 10 hour shifts to help respond to this demand, so they don't have to go to a store. it is important to note that while amazon is increasing help to provide medical supplies, home goods that you need they will be ramping down the delivery of home goods that you don't need right now. rob: thank you so much. jillian: the nba pushing all teams to test for the coronavirus. players already tested positive. at the same time, in the first confirmed case of covid-19, he is in isolation. the player has not been identified. >> 17 cops send home for possible exposure as an officer tests positive for coronavirus, they were stationed at the first precinct, the permit ask

nancy pelosi would not have continued to work the phone with steve mnuchin, she spoke with steve mnuchin multiple times while the president spoke, if she did not think a deal was in reach. shannon: a couple members admitted they don't know what is in it. do we know anything about how much it will cost? >> they don't worry but this, i would like the was to track this over the next couple months, this is going to be very expensive, several hundred billion dollars total if you go back to tarp and look at $7807 billion, look at the overall set of costs on the second tier bill, the third tier bill, this is not easy at this is where nancy pelosi said to get the ship to move on this we have to talk to the administration to change a word is quite a process and this is where changing the paragraph, those costs add up after a while. shannon: we have done many late nights and early morning with you, seems like a lifetime away. since last month. here we aren't so grateful for you and stay tuned as we get closer to that vote. stay tuned. word from donald trump after declaring and national emergency f

president trump and steve mnuchin have to go back to the drawing board. i know we complained about the debt for years. guess what, folks, whatever that cliff is, we'll probably have to hit it. if president trump does not bailout the small businesses, individuals in this country, he will not be reelected. our budget, federal budget, 48% comes from individual taxpayers, 9% from corporations. i'm kind of guy, we need strong businesses, love lower taxes not just for businesses but for everyone else. this is the moment of truth. go back to the drawing board, steve mnuchin. president trump go back to the drawing board. let's face it, whatever that cliff is, you may have to hit it. if you piecemeal this thing and favor these corporations, that, listen, they had amazing runs. the public has to share in the misery, it becomes a very dangerous slippery slope. cheryl: charles payne, so glad we got you back on the line. it its great to see you. we're certainly thinking about you. enjoy the pinball. i'm a little jealous of that one. i know you will be back. >> usually

treasury secretary steve mnuchin is with us. mr. secretary, thank you for being with us. as the senator just that, i'm all in favor, i want every american made whole. through no fault of their own they have been hurt. we have to help small businesses, cruise industry, airline industry any other industry, god help the medical workers. ramp up the medicines and everything for the hospitals. this other crap, why is it in here? >> sean, it's great to be with you. the president's number one issue was to make sure that we protect the american workers and american business. no fault of their own. we have shut down major parts of the economy. and he wants to make sure not only do we protect them but the economy is ready when he's ready to open the country. as you said, in any deal to get a deal done, there's things we like a lot. there's things we would never put in on our own. i want to highlight small business programs, hope to get it up and running next week literally were small business can go in and get a loan immediately. it covers eight weeks of their employees, their ince

steve mnuchin called ond democrats to back the presidents payroll tax holiday idea, he thinks that will be an effort to boost the economy. >> the president is very interested in the payroll tax, and stimulus. we are working with congress on that, if congress wants to do the stimulus in a different format, we will consider that. >> steve mnuchin the treasury secretary and lawmakers still try to hammer out those final details. we also learned today that target, cvs, and walmart will set aside some of their parking lots in an effort to establish drive through testing centers even as the overall numbers oft tests for coronavirus to lag. he heard from the president that millions more will soon be made available. l >> bill: we may hear from nancy pelosi on the capital this hour. kevin, thanks. nice to see you in washington. kevin corke there. were going to take you to texas right now, governor greg abbott declaring a state of emergency is at least 29 people tested positive for that in that state. >> we are going to make it through this. we have been through situations like this before, we mad

the us treasury secretary, steve mnuchin, is seeking a large stimulus package to prop up the american economy. samira hussain is in new york. i think the problem is is that investors a re really in uncharted territory. one person i was speaking with on the floor earlier today said, we have never seen anything like this, even compared to 2008, 2009, but at least then there was some idea of where this was going to hit in terms of the economy. but in this particular instance, absolutely every single part of the economy is being impacted, so there is no real area for investors to kind of hide or wait until this blows over, and that is the other issue, of course. we heard from the president that this could perhaps go on until at least august, and that also rattled investors because that is a long time to be dealing with that amount of uncertainty. stay with us on bbc news, still to come: life under lockdown in europe's worst—affected country. we speak to italians about dealing with the pain of losing loved ones. today, we have closed the book on apartheid and that chapter. more than 3,00

the president said testing is available in all 50 states and steve mnuchin outlined various economic actions, including a white house economic stimulus package for american workers.

reporter: steve mnuchin talking with our stuart varney earlier today. the loan would be forgiven if the company does not reduce its payroll by 25% or more, the loan could be forgiven. if they reduce it more than 25%, the loan forgiveness would shrink by the appropriate amount. this money could be used for utilities. it could also be used to pay mortgages, salaries, also rent or a lease payment. back to you. melissa: edward, thank you. connell? connell: let's go back now, melissa, look at this day in the markets and we end up higher by nearly 700 points on the dow jones industrial average. the s&p and nasdaq also having a terrific day of trading. now, you add oil around 20 bucks a barrel. so you had that falling. a few different things going on at once here. to edward and blake's point, there is hope in the market of more stimulus delivered. that is something investors are looking at, continue to look at. there has been some talk that the extended shutdowns like we heard the president announce last night, if anything might control the virus, limit as har

but steve mnuchin has said that the president, donald trump, will sign this stimulus package as soon as it reaches his desk. let's get a take here. kaori enjoji is there where the markets have been driven on emotion for weeks. selling on fear. are they buying now on hope? >> reporter: absolutely. news the congress has reached this deal for a $2 trillion package, bailout package-s sending tokyo stocks sharply higher, closing the day as the news came in minutes before the close. more than 8%, to its highest close in more than two weeks. we're seeing gains across the board for asian stocks as well. dow futures, which were in negative territory before the bill, has gone into positive territory. optimism that the deal has been passed and also expectations the small and medium size businesses that have been very hurt by the coronavirus and the business shutdowns might see some relief coupled with the wall of money the u.s. federal reserve has decided to put up in defense of the economy is helping sentiment and has been helping sentiment for about three sessions in a row in asia. also i thi

while treasury secretary steve mnuchin says president trump feels strongly, american companies must be protected from the economic fall out, but he says not necessarily bailed out. >> i will also say there may be specific industries and i want to be clear, this is not bailouts. we're not looking for bailouts, but there may be specific industries that are highly impacted by travel, that have issues with, with lending and just like after september 11th, the government authorized certain loan guaranties. we may consider that. charles: joining me heritage foundation senior advisor, spokesperson, genevieve wood. >> hi, charles. charles: i'm really worried about the administration, traditional republicans, fiscally conservative republicans will be too fixated on the nuance. it is not pa bailout. it is temporary. it is only for a few. we don't want to raise the deficit. i'm very, very concerned that today, this week, this election year, that could be the wrong thing to be focused on? >> i think what you're previous guest made good points, they need to hear from the president. he needs to be -

and instead it creates a $500 billion slush fund for steve mnuchin to hand out loans to corporations as he pleases's do americans think that this man, this man is going to look out for the well-being of working americans over the well-being of corporations and corporate ceos? i don't trust him. not without oversight. the slush fund proposed in their bill, no democrat had any chance to put any, you know, requirements into, does not provide oversights for him. i'm glad the vote is postponed. it needs to be. i urge my republican colleagues to please allow democrats to come to the negotiating table and let's write a bill together that will safeguard americans, safeguard us in this public health emergency. safeguard us through this economic crisis. >> what do you like that is in the proposal? because reportedly this legislation would include $250 billion to also help send out the $1,200 checks to many american adults along with $500, perhaps $600 for children. what is -- what else in that bill seems plausible or appetizing at all to you? >> i think that our americans need more than one ch

steve mnuchin, the treasury secretary was seen leaving. chuck schumer's office a little while ago. he is now in majority leader mitch mcconnell's office. so those discussions are still ongoing with a little bit of shuttle diplomacy. but essentially, some of the discussion is revolving around basically state funds that would help to stimulate the economy in individual states. it's the issue of how you structure those state stabilization funds that is dividing democrats and republicans. there is also a sticking point about the fact that democrats are arguing that this package is doing too much for corporations that are affected by coronavirus and not enough for individual workers, who might be affected, might lose their jobs as part of this process. republicans argue you need to boost businesses who need to keep employees on their payrolls throughout this entire process if you want to make sure we can weather this storm. but there are still big differences between republicans and democrats. whether those get worked out tonight is still to be seen. don? >> yeah, yeah. listen, people a

the negotiator for the white house is steve mnuchin. he's talking with the house speaker nancy pelosi as democrats control that chamber. the majority leader mitch mcconnell saying yesterday that steve mnuchin is essentially the ball carrier for the republicans in the senate and the white house on this. cnn tweeting out around 5:00 eastern time, house democratic measures say there's no price tag yet on the coronavirus relief bill that will be approved by the chamber tomorrow. bill text will be released this evening. the house rules committee will vote tonight will prove the rule for floor debates tomorrow. news, ways and means committee chair says the coronavirus bill will provide 12 weeks of unemployment insurance, family and medical leave, and offer free testing for coronavirus. fox is told that testing will be available for undocumented persons. this is from capitol hill. your reaction to what congress wants, the democrats, and what the president laid out tonight from the oval office. alejandra in north hollywood, an independent, you

steve mnuchin was saying implored small businesses medium-sized businesses don't lay off people. keep them on the payroll. we're coming for you. jared, you see what is happening in washington. this is a hard message to get across right now. >> it is. this is real chicken and egg thing, from a messaging standpoint, for americans to hear, these companies are getting money. why aren't i getting money? reality, in most cases other than checks mailed out to you as consumer, your money flows typically through an entity. if you're a small business owner you realize you have got to keep the cash flow, keep your consumers or rather your employees paid. they go out, they spend money. it is a cyclical thing, not caught up in pr spin. that it is a political game. the other thing to remember, the fed is going way deeper than they did back in the great recession. they're taking effort here, unprecedented efforts which at the onset is kind of scary, right? you see all they're doing. just their bond purchases in this week equate to eight months or seven 1/2 months of purchases between 2010 and 2

you'll not be forced to pay any more interest as a result of delaying but you heard steve mnuchin there say a couple of times, if you can file now, file now because of what you just said, chris. if you're owed a refund you'd get that from the federal government and at this time when the social fabric seems tenuous for so many people as they look at this economy, it would be beneficial. it would be a help to get that refund on time or early from the federal government. >> david gura down on the floor for us. thank you so much. >>> we have a lot to talk about. we have a big panel. look, there's what's going on with the markets right now in the wake of what we heard from the treasury secretary again who is now on the hill. up 637 points. we're going to keep our eye on the markets and bring in our medical contributor dr. natalie azar, science contributor and virologist dr. joseph fair and the president of ucla health, janice. let's start with where they finished because it was peppered throughout this press conference, questions about testing. i'm going to go straight to a question from one

cnn has learned that treasury secretary steve mnuchin warned republican senators that without action, the unemployment rate could skyrocket to 20% -- 20%. that's a figure not approached since the great depression. in northern california, a shelter-in-place order has been expanded to nearly 8 million people. the mayor of new york city is urging everyone to prepare for a similar situation, but the governor is downplaying the possibility. that disconnect somewhat unsettling for 8 million new york city residents. >>> grocery stores are starting to restrict the number of shoppers that they allow inside, even offering special hours exclusively for the elderly. kansas has become the first state to close schools for the rest of the academic year. >>> also breaking overnight on the political front, it appears that joe biden will be the democratic nominee for president. the former vice president sweeping all three of tuesday's primaries with big wins over bernie sanders in florida, illinois, and arizona. this is where the delegate count stands this morning. the question now is what is bernie sa

. >> i want to ask you, i want to just play quickly for you what steve mnuchin said on cnbc about this. let's listen together. >> to be honest with you, i just think these numbers right now are not relevant and, you know, whether they're bigger or smaller in the short term, you know, obviously there are people who have jobless claims, and again, the good thing about this bill is the president is protecting those people. so now with these plans small businesses hopefully will be able to hire back a lot of those people. >> so we've got a few-week lag on when the checks go out. there's always a delay when unemployment checks themselves go out. the bill has not passed as garrett was just saying, should be passed by tomorrow. that adds money to the unemployment insurance that people get but all of this is a few weeks away. that sounded unnaturally chipper for the treasury secretary to be telling cnbc this morning. >> i think tone deaf to say that these 3 million people who are applying for unemployment insurance are somehow irrelevant. people right now are struggling to pay their rent, to b

the treasury secretary, steve mnuchin warning republican senators that the unemployment rate -- listen to this -- could hit 20%. the new york state governor andrew cuomo right here on cnn dismissing the possibility of a shelter in place order in his state. >> my job is to make sure that the state has a coordinated plan and it works everywhere. i don't think shelter in place really works for one locality. >> at least 91,000 public and private skrools clochools are c scheduled to close affecting more than 41 million students, and we are learning tonight that brooklyn nets star kevin durant is among four nets players who are tested positive for the virus. in the face of all that, the president who has been playing down the coronavirus from the beginning says this today. >> i've always known this is a -- this is a real -- this is a pandemic. i've felt it was a pandemic long before it was called a pandemic. >> we're going to go through this. because it's important that you should know. it is important that you hold the people who are in charge accountable. it is important to know how we got

as you heard the treasury secretary steve mnuchin tell maria bartiromo earlier this morning, part of that package entails $500 billion worth of direct payments to americans. the treasury secretary said that would include 1000-dollar checks for adults and $500 for each child. speaking in the briefing room earlier this morning after the task force meeting, president trump was asked, if that trillion dollar package is enough? >> we'll know about that later on. we'll see what happens. it depend how long, so much depends on what is going on in this room in terms of the medical. if we can stop it in its tracks, the virus, it's plenty. if we can't, we'll have to go back and talk. reporter: with the economy at near stand still i asked the president whether or not we can expect the economy as it stands at this moment with so much shutdown on pause, on hold, when that might change, when can biz leaders expect, individual, workers, et cetera, on down the line to change? the president suggested it could be several days down the line. >> you will be able to tell you that very, i think in the near

treasury secretary steve mnuchin. congress for a phase three stimulus package of or more.ion bloomberg has learned that he told republicans the measure is liquidity to the market. the senate is expected to pass inond phase of stimulus response to the coronavirus. that'sth collection of economic measures approved by house.. president donald trump doing 180 on the coronavirus. so bad, it mays drive the economy into recession. president spending weeks minimizing the outbreak. leaders state and local to take the initiative. french people, we are at war. the french president making the case for shared sacrifice. in the fight against coronavirus. mr. macron reforms included controversial pension on hold. the government will ensure no allowed to fail. escalating price war with russia. saudis will start exporting more 10 million barrels a day. the fight has send prices down below $30 a barrel. if forced energy companies spending cuts. is bloomberg. >> thank you very much. you want to bring it all together. you working from ho

president trump: steve mnuchin. secretary mnuchin: you made it clear to us that we should think big and that this was a war on the virus. we should have the resources to protect american workers and businesses. it was a great honor to work with you, mitch and everyone on a bipartisan basis to get this done. this will be a great thing for the american workers. kevin mccarthy, thank you to you and all the house did to get this passed quickly. at the treasury, we are committed to moving forward quickly and get the money into people's pockets. >> this is a great day for the american workers. protecting american workers and jobs have been a hallmark of this presidency. is another important step in that direction including unprecedented support for american workers who lost their jobs through no fault of their own but because of the virus. it gives them as near as we could the same wage that they would've gotten. i think even more important, it includes three and her $50 billion in loans for small asiness but is structure

something senate democrats have negotiated with the trump administration, steve mnuchin and chairman grassley. based on what i am hearing from senators on the other side, you think this provision would pretty much end western civilization. supercharging unemployment benefits has long been a priority for senate democrats fighting for those improvements since the process began. in our view it is the key -- >> senator from oregon. please use your microphone. >> thank the president. supercharging unemployment benefits has long been something senate democrats have been fighting for, the key to getting help where it is needed most and believe me, colleagues. when you see the unemployment claim numbers tomorrow if the numbers are accurate this chamber is going to see that the unemployment crisis is exploding in america. i don't believe anybody in our country should call into destitution as a result of this pandemic so i obviously disagree with my colleagues who oppose our amendment so strongly to improve unemployment benefits. i just want to make a few key points in response to their argume

and steve mnuchin, you know he has been working hard. ,ecretary mnuchin: thank you mr. president, per your leadership. you made it clear that we had to think big. should have the resources to protect american workers and business. it was a great honor, mitch, to work with you and everyone on a bipartisan basis. this will be a great thing. and thank you for all of the to move thise did forward quickly. pres. trump: please. >> this is a great day for protecting american workers. this includes unprecedented support for workers who lost their jobs through no fault of their own. it gives us, as near as we could, the same wage that they would have been able to have. more important, it includes three injured $50 billion for loans. it comes on top of legislation .igned .aid leave, reimbursed in full this is the first paid leave law for the private sector ever and achieved on an unprecedented, bipartisan basis. this is the third major part of bipartisan legislation in three weeks. i want to thank the president for his commitment to american workers. and also my colleague, secret

meeting with the treasury secretary steve mnuchin. what comes from this? does it happen by the end of the day? the decision needs to be made. >> ed: they are moving the tax day from april 15th to july 15th. >> sandra: we will watch all of the breaking news this morning awaiting the white house a short time from now. automakers are looking at ways to fight the coronavirus pandemic. ford, general motors and tesla looking at repurposing their factories to produce medical supplies. elon musk has down played the crisis but tweeted this: more from fremont, california on that. claudia. >> good morning. with hospitals worried they will run out of critical medical supplies, automakers including tesla are willing to pivot to help save lives. they are concerning repurposing their manufacturing assets and assembly lines to mass produce ventilators and other critical equipment. experts say the u.s. has 175,000 ventilators on hand and in federal stock piles. but could need hundreds of thousands more as infections and hospitalizations surge. elon musk said they could mak