tv After the Bell FOX Business March 27, 2020 4:00pm-5:00pm EDT
4:00 pm
we are extending our losses, we are off of the session hi, the dow, s&p and the nasdaq, president trump at the oval office coming up in just a couple of moments, that is it for me, sending it to after the bow. melissa: back in the red after a massive three day rally the stock sinking after they passed a $3.2 trillion release bill, any moment president trump will line enter inside the legislation. i am melissa francis happy friday. connell: finally friday, i am connell mcshane, good to have you with us on after the bow, we have been in the red and all the major averages of 9% for the week. it is been a crazy week on somebody with levels, we have new headlines today we will bring you the president comments after we get them from the oval office and as we wait let's
4:01 pm
start with fox business team coverage of all of her top stories, ashley webster in new york, hillary vaughn on capitol hill where they debated the bill today and hillary we start with you, they passed it but not without drama. reporter: lawmakers had to make a mad -- to d.c. overnight to make sure they had enough members so if anyone on the house for today try to challenge and call for a roll call vote or quorum that is an essentially an attendance tally to make sure the attendance did not fail. most lawmakers were social distancing yesterday at home in their own districts, a lot of them took pictures and posted them on twitter on their travels on empty planes on the way here and some decided to drive out of safety from several states away. one congressman in south carolina undersell quarantine experience some symptoms of coronavirus including loss of taste and loss of smell and today he could not make the trip after his test results came in. >> because of the mild symptoms, i was tested yesterday for
4:02 pm
covid-19 and today i learned that i tested positive. >> today's vote looked different, they were on the house for, only to members allowed to take an elevator at a time, they all had to use hand sanitizer before entering and leaving and all of these precautions at several lawmakers in congress sitting at home with coronavirus, the house did pass the release package but it came close to being derailed by congressman thomas massie who called for a rollcall vote and italian of attendance to put every member on the record. it would've delayed the bill passing for a few hours while they waited for every member to vote one by one. >> they were trying to say this would delay to have a recorded vote. the truth, if you're willing to report, they do not want a recorded vote, they don't want to be on record of making the biggest mistake in history. reporter: speaker pelosi was able to get enough members into the house gallery and the floor to reach a quorum, the majority of members present.
4:03 pm
>> why don't we just back off, go to court and the best speech that you can enter process whatever it is. but don't make it any longer to get this done. reporter: they did get it done, were expecting any moment the president to sign this bill into law and the overall phase. connell: as we wait for that, thank you, we move on to ashley who is covering the market, wheelies wait a couple of minutes for the numbers to settle on wall street as they do that, it looks like we're down 915 points on a friday and we still have the best week since the 30s. reporter: yes since 1938, they passed a $2 trillion stimulus bill, were up 900 points for the dow but the bigger picture, it has been the best week for the dow since 1938, the s&p has
4:04 pm
having its best week since 2008 and the nasdaq up 11%. all in all, despite the red a lot more positives this week's although the volatility is definitely still around. the dow and s&p up about 9% individually for the week. let's take a look at some of the stocks would be today, one of the leaders of the dow this we week, given what it did today, boeing, let's take a look if we can, down today, 10%. it is down because the treasury secretary mnuchin will not be making any federal money, some analysts say i am not sure sure that is true, they may not have a choice. there were reports earlier that they might be looking for $16 billion from the government, they say no but the analysts are more skeptical among the dow leaders, up nearly 70% this week. let's not forget it was under 100 bucks a share not so long ago.
4:05 pm
despite today, still a good week for boeing. let's take a look at bit disney, cheryl mentioned this, disneyland and disney world announcing that they will continue to be closed until further notice, the stock is you can see is down 815%. they say they will extend parks through april the 18th. those are not at work, they will be paid through april 18 but disney is hard to believe but both parks closed until further notice. these are strange times indeed. connell: strange times to put it mildly. thank you. melissa: let's bring in steve forbes media chairman, you know the big question everyone is having as they watch all the data that went by this week whether the on appointment numbers and looking at the market, how much of this damage in the economy is permanent and
4:06 pm
how much will come back when the virus goes by and people come out and go back to work, what is permanent? >> what will be long-lasting are things like restaurants, when you go to a restaurant in the future you will want to social distance, not crowd together, obviously bars, sporting events if you go to a baseball game, you don't want somebody sitting next to you, those things will be slow to recovery. that recovery will depend on treatment if we get a vaccine or effective treatment than that distancing, i called physical distancing, not social distancing, it will recede a little bit, those things will be very slow, other parts of the economy i think will bounce back quickly, certainly in the high-tech area, people will want their devices and need them to conduct their businesses. obviously home devices will still be growing as we learn to work in various parts of the world including our homes. what will be an uneven recovery,
4:07 pm
this will get to the basic question, not a rescue bill, stimulus bill. what do we do next, which will depend heavily on the elections, will we go heavy on the democrat side, more controls, more taxes, more regulations or the opposite direction which will be critical in terms of what happens next year, do we want to make a full-blown recovery or very sluggish and disappointing one. melissa: break down a few elements for me because that is where i was going with this, as i remember in the last financial crisis in the recovery there were things like larry kudlow felt we could've done too have the nice sharp v-shaped recovery, the obama administration did not do a lot of those things. instead they put together huge package and a lot was supposed to be shovel ready jobs, out to build bridges, and mostly did not happen, the money got spent over time but it was not stimulus that help the economy boom. so what would you say, what her specifics that whatever
4:08 pm
administration of power should do this time that would create the v-shaped recovery. >> realize the government spending will not get the economy going. government does not create the resources. one thing i'll think will happen this time unlike 2008, the federal reserve will behave in a very different way. the actions after 2008, 2009, hurt the credit market especially for small businesses. that really hurt the recovery, this time i think the federal reserve took really good action to keep the credit market open, keep them going in another's recognition, you saw in this bill the past congress, recognition of relief for small businesses. i think on the tax side and on the regulatory side, there's going to be much more sympathy for small businesses being exhibited by washington then there was after 2008 and that will be really helpful for recovery.
4:09 pm
melissa: steve forbes, you are brilliant, just what we needed. thank you so much. connell: melissa, as we have fox business alert to bring you as we go to to buddy carter of georgia to talk about the breaking news of the day, the alert is from president trump who put out a statement with regard to the defense production act, something we've heard a lot about this weekend the president saying he has signed a memorandum to the hhs secretary directing the secretary to use his authority available under the act and now i'm quoting from the statement to require general motors to accept import ties federal contracts for ventilators. this is being talked about, our negotiations with gm regarding its ability to supply the leaders have been productive but our fight against the virus is too urgent to allow the give-and-take of contracting of the contracting process to run its normal course, he goes on to say that gm was wasting time,
4:10 pm
this is in the president's statement, today's action will ensure the quick production of ventilators to save americans lives. more throughout the program on that and were waiting for the president and the oval office to sign the cares act. in buddy carter, congressman and commerce committee member, state of georgia on the republican side. thank you for joining us from capitol hill. let's talk about the passage of this act today, the relief bill that we talked to many people about, i think almost they said this but was not perfect, then individual reservations with her. but i know many of them and i think you're in this camp, still voted for it. people want real information that they can use, what do you think is the most import element of it even if you do not like certain elements. what do you like and what will work? >> what i like is the relief it will give our small business people. as you know i was a small businessman for over 30 years, i
4:11 pm
know the trials and tribulations that all business people go through every day. then to have this happen, something that we've never experienced before, it is no fault of their own, this is something that is extremely important, obviously the help individuals making sure they get money in their pockets to stay liquid, that is very important, the help to small businesses is what i thought made the difference in the bill. connell: to your point you under small business, a pharmacist, that was your life getting into congress, you understand how difficult these kinds must be for people in similar situations. is this it, and with this bill, do you think some of talked about a phase four with this bill being phase three. >> as i understand there are people talking about a phase four, i suspect that may be a possibility if we needed. it all depends on the next few weeks and what happens. and how this goes, if we can get under control, perhaps we can handle it for what we done this
4:12 pm
far with the first three phases, if it lingers on and continues on then perhaps phase four is necessary, obviously we hope it will not be what we are prepared if we have to take the action. connell: a lot of that to your point will depend on if we can get things under control in the next few weeks or so, that goes back to the whole back-and-forth that is developed over whether we should reopen the country or the economy, president has mentioned easter sunday as a possibility and what we understand now, that is being looked upon on a county by county or state by state basis. what guidance would you give from your own experience about how that should be handled? >> i think taking it state-by-state basis is the best way to do it. what is good in the situation from new york obviously is going to be different than what is different from other states that have not been impacted as much,
4:13 pm
the same thing goes in the state of georgia, our governor is taking some unfair criticism because he had to call for a statewide ban and i think is handling it well saying let's let the local authorities make the decision. the city of atlanta has imposed certain restrictions as they probably should but what about the city in south georgia, they may not necessarily need to do that. it needs to be handled by case-by-case basis like this. connell: congressman buddy carter from georgia, we thank you for your time and we might hear more about that in the white house briefing in the top of the next hour or when the president signed the legislation. more than 585,000 cases worldwide as we look at numbers on a friday. 97000 of them in the u.s. at least 23 states have stay-at-home orders, newark which was alluded to by the congressman, if cases continue to search and they make up nearly half of the coronavirus
4:14 pm
cases in the united states, the latest coming up on the pandemic and some of the industries that are being hit the hardest. still to come. plus what else melissa. melissa: hospitals under pressure, more medical facilities facing a shortage, we will talk to one emergency room doctor about his experience on the frontline, that is next. ♪
4:18 pm
melissa: fighting the deadly virus and the nation's epicenter, new york state is ramping up hospital capacity and adding more medical volunteers since the death toll surged overnight. fox news david lee miller is live outside mount sinai hospital with the latest. >> the numbers are only going in one direction, up. here in new york city there are now more than 25000 confirmed cases of the coronavirus, more than 360 people have died. governor andrew cuomo visited the javits convention center that transformed into a temporary hospital. the governor says he will ask president trump to authorize construction of four more temporary facilities that will provide for more thousand additional beds, the doubts that
4:19 pm
they will need anticipated 30000 ventilators to treat patients, the governor said the devices are being stockpiled based on projections from medical experts. >> i hope we do not need 30000 ventilators. i hope some natural weather change happens overnight and kills the virus globally. that's what i hope. but that is my hope, that is my emotion, my thought. the numbers say you may need 30000. reporter: according to the governor, more than 60000 retired doctors, nurses and other ethical professionals have volunteered to help during the crisis, doctor who works at mount sinai icu describes the situation there as horrific. >> biblical, i kid you not, people come in, get intubated,
4:20 pm
they die, recycle repeat. reporter: the u.s. naval ship comfort is slated to had to new york city tomorrow and to arrive on monday, the 1000 bed ship will take the pressure off city hospitals by treating patients who are not suffering from the virus, president trump has said tomorrow he will see the ship off in his words, i will kiss it goodbye. melissa: david lee miller, thank you. connell: we are joined by doctor calvin, new york city emergency room doctor, he is typing in this afternoon. i guess what you would call a per diem dr. or freelancer meaning he works at a number of new york city hospitals not affiliated with just one, you may have heard what other emergency room doctor said to david lee miller a moment ago saying among other things it's
4:21 pm
hell dealing with the situation. can you describe to us what we've been witnessing, take us back to last ship and what you saw. >> thank you for having me again, my last shift was about less than 12 hours ago, i clocked out at two or 3:00 a.m. in the previous doctor you spoke to from mount sinai said it was horrific, biblical, those are the exact same words i used for my social media handles when i started my shift last night. it is horrific, the fact that ems trucks waited five hours outside the emergency room just to get triage, imagine calling 911 expecting to see a doctor immediately only to wait in line outside in the dark at 30 - 40-degree weather waiting to be triaged where he stopped to be sent to the emergency room
4:22 pm
and you stop to wait for provider, doctor or anyone to see. that is the reality. and the doctor you spoke with last time speaking about icu upstairs, i'm downstairs in the emergency room, 30 dying in the emergency room. they're not even making upstairs because it's so full, everything i hospital i worked in is full. reporterspent two how many new y hospitals have you worked in at this time. >> i lost count i think i'm in double digits, they become a blur i can even remember or recall when i worked where at this point. every day i'm in a different emergency room. connell: and the situation from what you described is unfortunately similar in all of those. we heard about the question about equipment and the ventilator of the focus of the governor talking about the number 30000, the president has questioned whether that will
4:23 pm
neewill beneeded, he's looking n projections and saying whatever the case may be, the data i saw was 1600 coronavirus cases in new york are in intensive care units. that number has gone up 22% in a day, most of those people would need a ventilator or a good high number of them. so what is a situation really like in terms of the need for that particular piece of equipment, ventilator. >> as a physician you want to do everything for your patient you are seeing. were not an ideal world anymore, is not about doing the greatest good for the greatest number of people, we may have to make choices and sacrifices that we are not custom to doing and that means russian dating ventilators. the data is public, you can go to the new york state health government website and they have 242 pages of published data in the pdf file on how they ration ventilators and they have the numbers which is very accurate for what were seen, and a six
4:24 pm
week period they expected 90000 ventilators to be used. they only have 10000 including the one in stockpile available in new york state, you ship 3000 more it's still a drop in the bucket, if you ship 30000 more that leaves 50000 patients without ventilators by their projection in a six-week pandemic. this was published in novembe november 2015 and our numbers are slowly getting to that apex. i think we just started, we could go i said i feel like the system is collapsing into this week now to wait five hours in a stretcher outside for triage when you call 911 is a sign that the system is collapsing. those people who call 911 are more than likely need a ventilator. the situation is dire and the numbers are not adding up. connell: have you seen a doctor have to make the type of choice you alluded to for a fact that has been made in italy, has that
4:25 pm
choice or the rationing had to be made in your personal experience yet in new york? >> i'm a doctor that made those decisions internationally in my training. i'm one of the few who unfortunately had to be put in that position. in this pandemic i have not personally seen in er doctor thankfully yet decide who gets a ventilator or who does not. i know were at a stage were just about hitting a soft aspect of the ventilator allocation guidelines as published on the new york state health website where we have protocols being put in place, committees are being formed, were now designing a soft rollout of implementing those guidelines of rationing care. they don't specifically deal with ventilators per se but overall, how much resources can you devote to things like
4:26 pm
cardiac arrest and people over a certain age they come in for certain age, those things are being heavily considered, it's becoming a reality, for ventilator specifically, i do no my colleagues at the other hospitals, they have one ventilator left where there now giving one ventilator from one person to another to keep the other person alive, whether the other person they took the ventilator off died or did better and then they were able to wean them off, i don't have those details but ideally we never had to do that in the first place, both would have ventilators. that is not good to be an overnight sudden change, it'll be slow roll of that number do witnessing that. connell: were still 2 - 3 weeks away from the apex you alluded to, according to governor cuomo the projections he been giving. i don't know that we have to do this or do this anyway but thank you so much for the work you're
4:27 pm
doing and coming on with us and sharing the concerns and you have to draw attention to all of that. all the best to you and your colleagues. >> thank you that is why am here. connell: doctor calvin, hospital er physician. receiving some much needed relief, we're going to talk about a thousand bad navy hospital ship that is arriving in california today and try to help the hospitals out who are expecting their own surge and seen a surge in patients, were on the ground in a light at the port of los angeles coming up. next what else melissa? melissa: any minute president trump will sign the 2.2 trillion dollars relief bill, were starting to get some headlines from the event, the president saying the bill will deliver urgently related entry intervention needed relief. he spoke to world leaders including china's president xi and beijing will send that to the u.s., we will bring the president, the more details as
4:28 pm
soon as we get them. we'll be right back. ♪ i see an unbelievable opportunity. i see best-in-class platforms and education. i see award-winning service, and a trade desk full of experts, available to answer your toughest questions. and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪
4:32 pm
connell: the u.s. navy hospital ship mercy arriving in los angeles, there to provide relief to the local hospitals in the los angeles area, let's get to christina coleman was on the scene with the latest. reporter: the mercy doctor this morning and local officials say it will be a big help in california especially since there's been more than 1200 cases of covid-19 here in l.a. county alone. >> the united states naval ship mercy is an incredible ship, i'm so grateful to the president, vice president, governor, senators, supervisors, i certainly may call after call to our representatives. reporter: the mercy is expected to take the load off of hospitals in southern california, there's more than
4:33 pm
1100 personnel on board, the navy hospital will be a referral hospital for non-covid-19 patients who were admitted to local met medical facilities, trauma patients can be treated on the ship and equipped with 1000 beds, this will free up space at local hospitals so they can use the intensive care units and ventilators to treat people infected with covid-19. >> we have a broad range of critical care and other medical care for patients and we have pretty broad surgical capability so the patient transfers to have surgery urgently we are very capable of providing that. reporter: there were multiple request to get the mercy to california. in addition to the 1200 coronavirus cases in l.a.
4:34 pm
county, there's been 26 deaths and the number of cases has tripled since last week in l.a. county and health officials are expecting a surgeon cases and the days ahead. >> there's a thousand people positive in each one of those people infects to other people, if we do not curtail that spread within a few weeks there could be over 1 million people that would be infected in l.a. county. reporter: the navy hospital is expected to be in service tomorrow offering the relief to local hospitals. connell: christina coleman, the port of los angeles, thank you for that and many businesses in all kinds of different industries are bracing for a new reality, entertainment is one of them in that industry being forced to adapt, the outbreak is spending big time movies directly to streaming platforms. we will have that coming up. melissa: amid the pandemic, president trump signed the 2.2
4:35 pm
trillion dollars relief bill moments ago as we are getting more headlines, the president telling reporters he will be announcing that thousands of ventilators will be used, the president's comments just as soon as we have them, stepping up in a time of crisis, airbnb offering free or subsidized housing to 100,000 healthcare professionals, first responders and relief workers worldwide. good for them. ♪ what makes you, you?
4:36 pm
your cells. trillions of them. that's why centrum contains 14 key nutrients to help feed your cells, nourishing your body inside and out so you can focus on what matters most. centrum. feed your cells. fuel your life. can be tough. you diet. exercise. but if you're also taking fish oil supplements you should know they are not fda approved... ...they may have saturated fat and may even raise bad cholesterol. to treat very high triglycerides, discover the science of prescription vascepa.
4:37 pm
proven in multiple clinical trials, vascepa, along with diet, is the only prescription epa treatment, approved by the fda to lower very high triglycerides by 33%, without raising bad cholesterol. look. it's clear, there's only one prescription epa vascepa. vascepa is not right for everyone. do not take vascepa if you are allergic to icosapent ethyl or any inactive ingredient in vascepa. tell your doctor if you are allergic to fish or shellfish, have liver problems or other medical conditions and about any medications you take, especially those that may affect blood clotting. 2.3% of patients reported joint pain. prescription power. proven to work. now with a new indication. ask your doctor about vascepa. avoid sick people... and touching your face. there are everyday actions to help prevent the spread of respiratory diseases. visit cdc.gov/covid19. brought to you by the national association of broadcasters and this station.
4:39 pm
connell: of fox business alert as we come back, president trump has signed the 2.2 trillion dollars relief bill, the cares act that passed with the house of representatives earlier today predicting the economy will come marine back, he made those comments in the oval office which we will bring to you as soon as we have them queued up, they said they will be ready to go to the white house to play back soon, i think most people know how these things work, when something is happening in the white house with the oval office were not able to carry it live, 30 happened in the president's comments will be playback. at the top of the hour were supposed to get a live briefing from the coronavirus task force but we have the signing first. melissa: i have no doubt one of the items we will hear is the back-and-forth on ventilators, we have seen the major
4:40 pm
automakers have said they would convert their plans to go ahead and make the ventilators and then you see the president signing the defense production act for gm, let's listen in and see what he says. >> it is 2.2 billion but it goes up to six-point to potentially billion dollars, trillion dollars. you're talking about a six-point to trillion dollar bill, nothing like that and this will deliver urgently related need to our nations, families workers and businesses and that's what this is all about and they have a 96 - 0 and i don't know what was the number in congress? that's pretty amazing, about the same thing right kevin, that is fantastic. i want to think republicans and democrats for coming together, setting aside their differences and putting america first, this legislation provides direct payments, individuals and
4:41 pm
unprecedented support to small businesses, we will keep our small business is strong in our big businesses strong and that's keeping us country strong in our job strong, this historic bill includes the following, $300 billion in direct cash payments will be available to every american citizen earning less then $99000 per year. $3400 for a typical family of four, a family of $43400. and then $350 billion and job retention loans for small businesses with loan forgiveness available, for businesses that continue paying their workers, the workers get paid, approximately $250 billion in expanded unemployment benefits, the average worker who has lost his or her job will receive 100% of their salary for up to four full months. things like this have never happened in our country.
4:42 pm
$500 billion in support for hard-hit industries with a ban on corporate stock buybacks, we don't let them buy back the stock, we don't let that happen in tough limits on executive compensation, over $100 billion to support our heroic doctors, nurses and hospitals and you see what's happening, i want to thank the incredible job that is done by the army corps of engineers and by fema, it's been incredible. they did for hospitals in two days or three days in new york and with their incredible structures, what a job they have been doing and they're doing them all over the country, $45 billion for the disaster relief fund supporting our state, local and tribal leaders, $27 billion for the development of vaccines, therapies and other public health response efforts including $16 billion to build up the strategic national stockpile with critical stockpiles, we have tremendous
4:43 pm
supplies coming into the stockpile and you will be seen that in hearing about it a little bit because were doing and news conference at 5:30 p.m. on what is happening. we have had tremendous results on the respirators, we have great results on everything were talking about, boeing announced they will be making the plastic shields which are hard to come by and they will be making them by the thousands a week. in the ventilators which is probably the most difficult because it's like building a car, we will be announcing thousands will be built and we have them under contract and we have fast deliveries. as we di deliver thousands to nw york and unfortunately they were delivered to a warehouse in a virtually they did not take them but now they're taking them, new york is taking them and redistributing them around the areas that they need.
4:44 pm
you have also $3.5 billion to states to expand childcare benefits for healthcare workers, first responders and others on the front line of the crisis in $1 billion for securing supplies under the defense protection act and as you know, i have enacted the act, we used it three or four times, i pulled her back three times because the companies came through in the end, they did not need the act, it's been great leverage, i have instituted against general electric, we had 40000 ventilators and all of a sudden the 40000 came down to 6000 and then they talked about a higher price then we were discussing so i did not like it. so we did activate with respect to general motors and hopefully we will not need the full activation, we will find out but we need the ventilators, i said hello today, i called him a wonderful guy, boris johnson as
4:45 pm
he tested positive and before he even said hello, he said we need ventilators. and i said while the, that's a big statement and hopefully he will be in big shape. i just talked to merkel, she is quarantined for four weeks, she is being forced to stay in her house, this is an incredible situation. last night i talked to president xi and we talked about the experience that they had in china and all the things taking place and we learned a lot, they had a very tough experience and they are doing well and he's doing well, president xi is doing very well, we learned a lot and we have great communication together, we will send great data from china, things have happened that they see that they've had an early experience and were getting all of the information, much has
4:46 pm
already been sent it was sent yesterday to her scientist to study, we will have more on that and be discussing that at 530. i just want to thank the people behind me, they have been incredible friends, warriors, there's nobody tougher or smarter than the people standing alongside of me, i think i want to start off by asking mitch and kevin to speak in them will go through a few of the folks in the room if they would like to say something. mitch i would love you to say a few words because this man worked 24 hours a day for a long time. this is the result, the biggest ever approved in congress, six-point to trillion dollars. so we used to get billion, it was million, then billion now trillion. it is going to go a long way, it will make a lot of people very happy, mitch mcconnell please. >> thank you, mr. president. this is a proud moment for country for the president,
4:47 pm
republicans all pulled together and passed the biggest bill in history in record time. i also want to think kevin mccarthy and our leaders on the republican side of the house who helped speed this through to passage, the american people needed the rescue package, they needed it quickly and we deliver, proud moment for all of us, mr. president thank you for the opportunity to be here. >> i would love to shake your hand but anthony would get angry at me. i better not do it. it is so natural i just want to go back and shake his hand. they have been such an incredible job kevin, please. >> i want to think everybody, we are listening to you. you do your part and we are going to do ours, that's exactly what is happening today, what leader mcconnell did was amazing, he made it bipartisan, everybody was involved, i wish we could've signed this earlier this week, maybe there would not be as many people out of work.
4:48 pm
but this will put people back to work, i want to think secretary mnuchin, you did an amazing job and we want to thank you for that, all the team that is here. as i said in my speech, the virus is here, we did not ask or invite it, we did not choose it but we will defeated together because we are going to work together, this is the first start, the hospitals will get money that they need, the small businesses will be able to hire their employees back, that is a grant you do not have to borrow. the other businesses will get a retention to keep your employees on, this has something for everything, to the task force of the vice president, all the work that you're doing with this president, this will be the needed resources you need as well, thank you for that and thank you for your leadership. >> mike pence, can you please say something, you been working very hard, in charge of our task force and i'd like to ask steve to say a few words. >> thethank you, mr. president,
4:49 pm
thank you for giving us opportunity and for the american people for the accomplishment that is reflected in the legislation that you will sign in just a few moments. you told the american people that we would do whatever it takes and you called on the congress to step forward to make coronavirus testing free for every american intimate paid family leave available, congress with the leaders gathered around step forward in a bipartisan fashion and delivered. but today every american family, every american business can know that help is on the way. i want to think leader mcconnell for his work in forging a bipartisan bill in the united states senate, i went to think leader mccarthy for his great work but as the president said i want to think the democrats and the republican leadership across the house and senate, this is an american accomplishment and mr. president, it's exactly what you asked the congress to deliver for the american people.
4:50 pm
>> thank you very much mike, you know how hard steven mnuchin has been working. >> they can very much for your leadership in the vice president's leadership, you made it clear last week that we should think big, this was a war on the virus and we should have the resources to protect american workers and american business and i would like to think the senate, it was a great honor to work with you and everyone on a bipartisan basis to get this done, this will be a great thing for the american workers and kevin mccarthy, thank you for all the work that the house did to pass quickly. we are committed to move forward quickly and we will get money and people's pockets quickly. thank you, mr. president. >> this is a great day for american workers, protecting american workers and american jobs, it's been a hallmark of this presidency is another very important step in that direction, and includes unprecedented support for
4:51 pm
american workers who lost their jobs through no fault of their own because of this virus and it gives them as near as we could the same ways they would've gone through an employment insurance if they were able to keep their jobs up to four months, more important and includes $350 billion in loans for small business, but structured in a way to incentivize them to keep their workers on payroll so those loans can be forgiven at the end of the period. it's on top of legislation that the president signed last week for paid leave for workers who have to be at home because of the virus, paid leave reimbursed in full dollars for dollar to the employer, the first federal paid leave law for the private sector ever and that was achieved on the unprecedented bipartisan basis, this is the third major bipartisan legislation and three weeks, three bills, three weeks to address the virus. i want to think the president for his leadership and commitment to american workers in the vice president as well
4:52 pm
and leader mcconnell and my colleague secretary mnuchin who did so hard to get this done. >> dr. fauci might want to say for a minute, something hit the world but certainly you can say a few words. >> thank you, mr. president, i want to thank everyone involved in this, this is what america is about, something that is needed by the american people, dr. birx and all the medical people and are fighting this directly, has an impact on the american people both by illness and death but indirectly because many of the things that we have to do to suppress the virus has a negative impact because of what were doing to give them relief economically is absolutely essential. i feel really, really good about what is happening today. thank you all very much. >> they can mr. president,
4:53 pm
dr. fauci's cover that very well, i worked for him and he was my mentor 40 years ago. i think whenever we start with one of these very serious diseases and pandemics, the president's first goal was ensuring the house of the american people and that's why we put up the strong guidance. it is been a pleasure to work with economic team because they understand data in the same way, economic data and health data is very similar in how you interpret in a grand way, the american people is first but the economic value of the nation is also critical. i went to think all of you for what you have done for the american people. >> great job you are doing too. >> 20 days ago i don't know that anyone could've imagined how hard we have been hit, medically or economically. 20 days ago i don't think anyone could've imagined congress pulling together so quickly and so forcefully behind what the
4:54 pm
president identified we needed for this country. this is a problem for all of us and it's an example of what leadership can provide here in the white house and how we respond as a congress. thank you, mr. president for your leadership. >> kevin saying 20 days ago, a couple of days longer than that maybe, we had a smooth running, beautiful machine, the greatest economy in the history of our country, we had the highest stock price we have ever seen, and went up 151 times during the course of the presidency. then we got hit by the invisible enemy. and we got hit hard, it was not just us, it was 151 countries as of this morning and you call germany, she is in quarantine and boris was diagnosed as
4:55 pm
positive and all the things that are happening it's hard to believe what to say and a short period of time and because of the talent behind me and lots of other talent and government, what we have done, this is a big part obviously but not the biggest part, everybody has pulled together, our nation has pulled together, the spirit is incredible, people have pulled together better than anyone and they're doing really, really well. just to think how life can change, we go 20, 22 days ago, everything is perfect, i'm saying when are we going to hit 30000, i want 30000, more jobs and more everything and then one day we get hit with this that nobody had ever heard of, nobody have ever heard of before. now were fighting a different battle but i really think it a fairly short period of time because of what they have done and what everyone has done, i think will be stronger than ever and will be protected from a lot of this, a lot of the things
4:56 pm
that we have done now that we are doing now will protect us in the future if they should happen again from testing to so many other -- even stockpiles. the vaccines hopefully, vaccine cures, therapeutics whatever you want to call them, a lot of progress, i think were making a lot of progress on vaccines, were making perhaps a lot of progress on cures and therapeutics, we will be letting you know. anybody else have anything? >> i would say i've never seen you shy away from a challenge, your leadership and your policies in this great team brought america the ignore ms. economy and you get to do it again, this bill is the next step in that and we can build back the economy with your leadership in the healthcare team, we are doing the right thing for the american people and they know it, i can tell you that from the ground. it is not easy, we don't want to shelter in place as americans, we want to be out especially in
4:57 pm
the northwest. but we know we have to do this with the safety of her relatives and families in our community and country. thank you for your leadership. a great team you have assembled. >> on behalf of small businesses, they're the backbone of the american academy, about half of the people that work for small businesses and are hurting now. i'm from ohio, the ranking member of the house of small business committee and nonessential small businesses are shut down. without this legislation it is questionable whether they would reopen. because of this legislation they now have a great chance of that and those people that work for small businesses will be paid, that's really important. this would not have passed without your leadership mr. president. thank you. >> taken very much. eric worked so hard, you all know eric, he was at steve's side the whole way, where is our man, larry, the two of them, how about eric and larry say a couple of words. >> thank you very much mr. president, i really appreciate it and mr. vice president as well, you encourage
4:58 pm
your team to be bold, be brave and go big and we certainly delivered today, $6.3 trillion is tremendous. so we made sure that we can reassure americans that their paycheck is protected in their earnings are protected, we make sure that we can provide significant enforcement to the american economy as a result of your leadership and finally looking ahead to address the virus, we included significant resources to ensure those therapies and ultimately the vaccine can come online as quickly as possible. were protected public health and economic health of america's what you've directed us to do and what the team we worked hard to deliver today. thank you very much mr. president. >> wework very hard to get the money out quickly and hopefully can be distributed quickly especially when we have old computer equipment that they have to use. larry please. >> thank you, sir.
4:59 pm
hats off to mitch mcconnell, he did an amazing job and house leadership as well, i agree with the bipartisanship, i want to give a special thanks to my friends steven mnuchin who did an extraordinary job, we were up there helping him out in one spot or another but he got it done and i will just say this mr. president, a few months ago this economy was worrying and we have hit this bug, virus and we will deal with it and i think the assistance bill which does have incentives will help lead us back to a very strong economic rebound before this year is over. >> i think that too, i think while the tremendous rebound at the end of the year toward the end of the year and will have a rebound like never seen before, even now it wants to rebound, you can see it and feel it, and wants to rebound so badly and we've had those biggest ever stock market surge two days ago
5:00 pm
and yesterday. melissa: the president signing the cares act delivering relief to americans, that does it for "after the bell", we handed off now to lou dobbs. >> it is a great honor, six-point to trillion. ♪ >> good evening i am david asman and for lou dobbs, let's get right back to the white house. >> thank you all. [applause] >> come on over
76 Views
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
![](http://athena.archive.org/0.gif?kind=track_js&track_js_case=control&cache_bust=1771479271)