small business open. that's the purpose of this new program under the small business administration. the amount of the loan. you take your average payroll before the coronavirus was here, and you take your monthly average payroll and multiply it by 2.5. basically, what you're getting is two months of payroll for your workers, plus an extra -- it comes out to an extra 25% of your payroll because it's two months of that. now, what eligible expenses -- what can you use this for? well, you can use the two months for payroll. pay your workers. keep them employed. it saves you the cost of rehiring if you had to furlough or lay off workers. you can keep them employed. you can use the extra funds to cover their expenses that you have on their health care or held expenses. you can use the extra 25% for rents or mortgage payments or utility bills. so it gives you a cash to conduct your business for the next two months. it gives you the ability to keep afloat so that you're ready to rebound when the economy rebounds. who is eligible? companies under 500, but we went beyond the traditional 7-a's

i am instructing the small business administration to provide liquidity to firms affected by the coronavirus. effective immediately the sba will provide economic loans in affected states and territories. these low interest loans will help small businesses overcome economic disruptions caused by the virus. i'm asking congress to increase funding for this program by an additional $50 billion using emergency authority i will be instructing the treasury department to defer tax payment without interest or penalties to certain individuals and businesses negatively impacted. this section will provide more than $200 billion of additional liquidity to the economy. finally i am calling on congress to provide americans with immediate payroll tax relief. hopefully they will consider this very strongly. we are at a critical time in the fight against the virus. we made a life-saving move with early action in china. now we must take the same action. we will not delay. i will never hesitate to take any necessary steps to protect the lives, health and safety of the american people. i will always put the well

he's called on the small business administration to free up liquidity, $50 billion more for the program that already exists for low-interest loans. ,nd differing tax payments deferring the april 15 deadline for some taxpayers and businesses negatively impacted by the coronavirus outbreak. at the end, saying he's calling on congress for payroll tax relief. the would agree -- do you agree with these measures? do you want to see congress act as well? a republican is up first this evening. >> how are you? >> what did you think? >> i agree with everything he had to say. i hope congress will follow suit. i hope no one blocks him at this juncture. i think he's doing everything he can for the country without being an alarmist. if the national health organization said it's a pandemic, then i guess it is. i think he's doing what a president should. i don't see any reason why congress should thwart him pres. trump: and his actions. pres. trump:i'm taking precautions. when i went to the doctor, i work loves. that it touch anything shouldn't touch. magazines or anything. i'm very worried. but he all

also addressing the economic side saying the small business administration will make available to small businesses that are suffering because of this low-interest loans. he also called for immediate payroll tax relief. we should point out that this is the 12.4% combined employer-employee tax that's paid into social security. this does not include medicare or unemployment insurance. this is the same fica withholding that was addressed back in 2010 with a 2% cut, but the president wants to cut the whole thing until the end of the year. not a lot of support for that in congress. the president also wants to make sure that people who are either in quarantine, people who ill or people who are taking care of someone who is ill are still receiving a paycheck so the president plans on addressing that. the president called for $50 billion, by the way to be added to the pot with the small business administration, which may cause some consternation from some people that the price tag for this is really beginning to mount quickly, but the president saying, how we address this now really will have an

francine: that is wonderful practical advice, karen mills, former head of the small business you is in -- small business administration ♪ >> on the major correction, have helped investors to manage the situation in an effective way. taking advantage of new opportunities. this is time in our point of view to move into credits. historically from a risk point of view, there are not many times in history when credit has been priced so attractively and we see people taking advantage of that. i have to say that many clients have been very disciplined in their asset -- in their long-term asset allocation. they reevaluate how to do that and it does take support. we are preparing to exploit opportunities with stocks or situations or sectors that have been particularly impacted. i see clients starting to take .pportunities and buy into some francine: that was sergio ceo speaking to manus cranny earlier on. here are your markets. we are waiting for the jobs report and the boe coming out with their interest rate decision later today. u.s. equity futures down. european futures down. investors are starting to look past the stimulus

i am instructing the small business administration to exercise available authority to provide capital and liquidity to firms affected by the coronavirus. effective immediately the sba will begin providing economic loans in affected states and territories. these low interest loans will help small businesses overcome temporary economic disruptions caused by the virus. to this end i'm asking congress to increase funding for this program by an additional $50 billion. using emergency authority. i will be instructing the treasury department to defer tax payments without interest or penalties for certain individuals and businesses negatively impacted. this action will provide more than $200 billion of additional liquidity to the economy. finally i am calling on congress to provide americans with immediate payroll tax relief. hopefully they will consider this very strongly. we are at a critical time in the fight against the virus. we made a life-saving move with early action on china. now we must take the same action with europe. we will not delay. i will never hesitate to take any necessary

small business, we are very excited about that. and for the first time, some grants from the small business administration, and that process facilitated the aid to small businesses, which are the lifeblood of our economy. job creators. the wealth creators. very important. so again, many of these changes that changed it from trickle down to bubble up took the matter of 48 or so hours. that would not be called a delay, it would be called an improvement. david: fair enough. let's talk about small business. they really employ a lot of people. we have seen a lot of layoffs from restaurants and things. how confident are you that that money can get to those ?usinesses the small business administration, are they up to the task of keeping people on the payroll? i spoke to the secretary of the treasury, steven mnuchin. we have been talking about this for a while, that we can't leave it to the process of the s.b.a. the initiatives he put forward that the banks would do direct lending with the imprimatur of make.b.a., and that would this go much faster. it would be a vast improvement really. necessary because of the urgency of getting those funds

small business relief in this bill, which includes loans of up to $10 million that can be forgiven and turned into grants if employees are kept on the payroll. this relief will go through the small business administration and be available to any business or nonprofit under 500 employees. with democrats at the negotiating table, we worked toward that goal, and as a result, american workers will receive four months more of unemployment insurance instead of just three because so many americans are now out of work we need an expanded unemployment insurance plan. this plan extends unemployment to the self-employed for the first time, it increases the maximum benefit by $600 per week. many workers will receive their full pay under this expansion. just to give an idea of the magnitude of this problem in my home state of new mexico, during the week of march 9, we had fewer than 800 claims for unemployment. this last week we had 11,000 and now we are receiving 7,000 every day. also, because democrats stood firm, our health care system will see an infusion of $55 billion into the marshal plan for health care. the total public health care investment in this bill is now $150 billion. we will establish a $150 billi

. >> reporter: the small business administration is now offering emergency loans and lawmakers are considering expanding that program, but some entrepreneurs say they might run out of money first. lester >> gabe gutierrez, thank you. >>> we'll be right back in 60 seconds with a new warning about scammers, yeah, scammers trying to cash in on this crisis there is no work. >> reporter: the small business administration is now offering emergency loans and lawmakers are considering expanding that program, but some entrepreneurs say they might run out of money first, lester? >> gabe gutierrez, thank you. >>> we'll be right back in 60 seconds with a new warning about scammers, yeah, scammers trying to cash in on this crisis. don't start xeljanz if you have an infection. taking a higher than recommended dose of xeljanz for ra can increase risk of death. serious, sometimes fatal infections, cancers including lymphoma, and blood clots have happened. as have tears in the stomach or intestines, serious allergic reactions, and changes in lab results. tell your doctor if you've been somewhere fungal infecti

so that the market does not continue to fall he also announced today that he wants the small business administration to provide additional money and low interest loans to companies and businesses affected by the tremendous loss of revenue coming in to businesses across the country because of the coronavirus also he said days going to offer a deferred tax payments to a. >>businesses and individuals who are affected by coronavirus across the country and a payroll tax relief request will be sent to congress to ask congress to give people a break on their z3s7oz z1ncz y3s7oy y1ncy >>everybody our coronavirus coverage continues so mike many developments happening today, we just heard the president give a live address among the items that he pointed out is the us is now going to ban travel between the united states and europe for the next 30 days starting on friday many local developments as well san francisco is now announced that it will ban large events, including fans attending lawyer games, those events. including of more than 1000 gather of the people of more than 1000 people gathering and we are al

i am instructing the small business administration to exercise available authority to provide capital and liquidity to firms affected by the coronavirus. effective immediately, the sba will begin providing economic loanss in effect in states, and territories. these low interest rate loans willll help small businesses overcome temporary economic disruptions caused by the virus. i'm asking congress to increase funding for this program by an additional $50 billion. using emergency authority, iup will be instructing the treasury department to defer tax payments without interest or penalties for certain individuals and businesses negatively impacted. this action will provide more than $200 million of additional liquidity to the economy. finally, i am calling on congress to provide americans with immediate payroll tax relief.ed hopefully, they will consider this very strongly. we're at a critical time in the fight against the virus. we made a life saving move on china. action now we must take the same action with europe. we'll not delay. t i will never hesitate to take any necessary steps t

the small business administration couple weeks ago started offering some free loans under its economicry program which is great. if you're a small business looking to look low cost, very low interest loans, go there, borrow $2 million, pay it back over 30 years. with the stimulus program, it is extending section 7-a small business administration loans. what that means, you as small business owner can go to member bank, not directly to sba, you can get loans to cover the operating expense, right? at the end of the loan you will be forgiven to costs related -- cheryl: forgivable. this is the problem, why don't small business owners, we had several understand how to do this? they don't get it there is messaging problem from the small business administration in particular. part of goes back to congress, so busy fighting in d.c. so many people at home, businesses shuttered. they're probably laying off employees every single day. we saw that with 3.2 million initial jobless claims here today. what is the problem, gene? why is there so much confusion? >> first of all, not only i agree with yo

we have also worked closely with our small business community and federal partners to ensure maryland will improve for the small business administration's assistance. small businesses across the state can apply for disaster relief funding group the fda. that's an important resource. but we do know that wewill need to do much more than that . if we do not act to support our businesscommunity during this emergency , and the economic risk to our industries, our small business employers and above all the livelihoods of maryland residents will linger even after we hit the down side of the curve and the pressure on our healthcare system pieces. our small businesses must survive andour people must have jobs can return to when things returned to normal . sowe're acting now to ensure that . commerce is two new emergency relief funds will help our small businesses and nonprofitsweather the storm . the first, the maryland small business cove in 19 emergency relief grants fund offers up to $10,000 to businesses with 50 or fewer employers. there will also be funding that will be set aside specifically for ournonprofit community . these grants can pr

i'm instructing the small business administration to exercise available authority to provide capital and liquidity to firms affected by the coronavirus. effective immediately, they will -- the s.b.a. will begin providing economic loans in states and territories. these low-interest loans will help small businesses overcome temporary economic disruptions caused by the virus. to this end, i'm asking congress to increase funding for this program by an additional $50 billion. using emergency authority, i will be instructing the treasury department to defer tax payments without interest or penalties for certain individuals and businesses negatively impacted. this action will provide more than $200 billion of additional liquidity to the economy. finally, i'm calling on congress to provide americans with immediate payroll tax relief. hopefully, they will consider this very strongly. we are at a critical time in the fight against the virus. we made a life-saving move with early action on china. now we must take the same action with europe. we will not delay. i will never hesitate to take any

small business communities to also be able to get loans, to have to work with their local chapters of their chambers of commerce, of their associations that they are members of, also go online, small business administration as well as talking to local lawmakers, because there is so much information out there about the economic stimulus, but there are going to be in very short order different opportunities for small businesses to get assistance, so it's important to go to folks like the small business administration and to work with the local associations to make sure you are getting the right information on that. >> absolutely. last question to you, though, kevin is saying it's the first, second week of april for the beginning and something else in may, potentially, for how many people is that an eternity and they cannot sustain? is there a way to gauge the amount of businesses that will not be able to come back from this in. >> yeah. so, in terms of restaurants, i asked the new york state restaurant association, how many businesses will be shut down because of this? he said that 30% have already shut down and 70% are struggling trying to still do deliveries, but likely won't last more than another three

concerns about the needs of small businesses in addition to that tax incentives in the bill, more is alreadyllion available from prior appropriations from the small business administration to make loans. as we watch the impact of this virus on our nation's job creators, i will continue working with the administration and my colleagues to ensure they get the help that they need while bringing this bill to the floor has taken much longer than i had hoped, it is time for congress to pass it. this bill will give the president and public health officials the tools needed right now to respond to this quickly changing threat. i urge my colleagues to join me in voting for this measure. tomust pass this bill today help leverage a global impact on this global pandemic on the american people. thank you, i reserve the balance of my time. >> the gentlewoman from new york is recognized. >> i yield such time as i may consume to the gentle men massachusetts, the chair and the committee on ways and means. >> the gentle men from massachusetts is recognized. rise in strong support to protect americans health and financial security as our nation confronts the coronavirus crisis. i want to

institutes of health, the food and drug administration, the state department, usaid and the small business administration. that package, mr. president, also authorizes an additional 500 million and demanded tory spending for health through medicare. combined, this emergency supplemental provides $8.3 billion in resources to attack the crisis at the local, state, federal, and international l levels. mr. president, the situations like this, i believe no expense should be spared to protect the american people and is crafted in this package. it as is an aggressive plan a vigorous plan that has received an overwhelming positive reaction in the house. today, it is the senate's responsibility to keep the momentum going. i urge our colleagues to vote yes and demonstrate to the american people that we, here in the senate, are unified and have their back on this crisis. >> mr. president, the senator for vermont. >> mr. president, i agree with what chairman shelby has said. we tried to set an example, the two of us from two different parties, two different parts of the country, two different political philosophies.

senate also working on legislation to help small businesses in line with what the president detailed last night to include expanding the small business administration loan program. >>> coronavirus las even impacted the capital. some individuals senate offices and staffers artell le working and some lawmakers, several of them have self quarantined. public access to the capital has been respected. public tours here at the white house suspended as well as at the pentagon as the impacts of the coronavirus continue to expand nationwide. >>> i'll send it back to you. >> natalie brand for us live at the white house. thank you. >> >> coming up, the national hockey league suspends it season over the virus. more about fans across the country. >> plus, trips cancelled around the globe for one major cruise line. >>> we're watching the fog burn off this afternoon. here is a live look taking you out to the try valley. blue skies out there. you can see the blossoms on the trees out there. we'll talk about big changes ahead. looking to the weekend, tracking our next storm, details coming up. force >>> taking another live look at the big board here. the stock marke

small businesses. in addition to the tax incentives in the bill more than $37 billion is already available from prior appropriations for the small business administration to make loans. as we watch the impact of this virus on our nation's job creators, i will continue working with the administration an my colleagues to ensure they get the help they need. while bringing this bill to the floor has taken much longer than i had hoped, it is time for congress to pass it. this bill will give the president and our public health officials the tools that are needed right now to respond to this quickly changing threat. i urge my colleagues to join me in voting for this measure. we must pass this bill today to help lessen the devastating impact of this tpwhrobal pandemic on the american people. thank you and i reserve the balance of my time. the speaker pro tempore: the gentlewoman reserves. the gentlewoman from new york is recognized. ms.lowby: mr. speaker, i yield such time -- ms.lowby: mr. speaker, i yield such -- ms. lowey: mr. speaker, i yield such time as he may consume to the gentleman from ways and means. the speaker pro tempore: the gentleman is recogniz

considered measures to keep the small businesses. >> it will be much harsher than going through covid-19 itself. >> reporter: they propose make ache $2 billion small business administration fund available for small interest loans. the district 4 rep wants to galvanize some of the tech giants. google, apple, facebook to create a fund for grants. >> it's to be able to get that. but we'll get out of it. >> we'll backfill it. >> reporter: in morbegan hill, hope is running out at yolk if there wasn't a financial infewing of some kind. covid-19 could force the doors to close, even if no one sinfected. >> if it doesn't working i'll shut it down by the end of this week and just wait it out. >> reporter: waiting is not free, there are all kinds of costs, payroll costs. the rent is due of course. the councilman says the fda loan application process, he's open and active. so they can submit blkzs now. but he's trying to cobble together some kind of support in the tech sector, grants for smaller businesses. jesse gary, fox2 news. back to you. >>> it is a whole new world for many parents working from home while also keeping their students learning. we're joined with the manager of co

they'll deaith the small business administration. all business owners don't have toneal with the government this deal with your regular banker. it's going to be an enormous strain on the banking system. but that's how it's going to work because they're the ones who are i touching talividual businesses. robert: the market dipped 900 points. today friday. industrial are we going to see if they suffer a phase four, another round o legislation? how many options are left for congress? eah, that's a -- one thing that the democrats and the house are already talking about phase four rescue package. remember, they've passed an $8.3 billion package that was passed by bipartisan majorities in both chambers o congress. and of course, there was a second major package that included mor jobless benefits as well as medicaid, spending to the s ates ands well as paid leave that was approved -- that wasse a pwo. the biggest package in american history. and rightcyow n pelosi is talking about a phase four. i asked her today what her tnee s for that. and

for the disaster loans providing some resources and the small business administration in order to administer that. we need to build on that supplemental. we need to get to help out to small businesses so they can take advantage of what was in the first supplemental dealing in the corona virus. they are the ones that small businesses go to for help. the minority business centers and the other resource partners. we need to make sure they have the resources. we heard last night as president of trump. let's work with that in the most effective way. we all need to come together in a bipartisan solution. i would hope the disaster loans will provide help and deal with resilience, paid leave for the workers and small businesses, dealing with the communicating. that is going to cost some resources. looking at the cost of taking out a small s business loan. we have to be repaid. you don't have the revenues how are you expectedw to repay" the structure allow those loans to take place? we need to take a look at a targeted grant program to keep small businesses afloat. why? because that is where the job

we are deeply committed to ensuring small businesses of the support they require, small business administration announced disaster loans for impacted businesses with up to $2 million. we have asked congress to increase the lending authority to $50 billion. it is a lot of employees. we appreciate it very much. we appreciate you being here. in front of the media. maybe you can say something about your company's and those you employ -- your companies and those you employ. >> i am the ceo of helton. -- of hilton. we employ globally about 450,000 people. 260,000 people here in america. we appreciate you having us here. we appreciate all you are doing today to keep all of a safe and secure. working on trying to secure a future for the economy that is obviously being impacted by this. vice president pence, thanks to you when all others working on this. as the president pointed out, we are one of the biggest industries in the country, one of the biggest employers in the country. you will hear from others in our industry who have been impacted in a devastating way. i have lived through many crisis, the

for these federally loans .eed the loans would be available immediately through existing small business administration certified lenders including certain banks, credit unions and other financial institutions. in a streamlined process would be created to bring other additional lenders into the program. the loans would be tied to a formula based on the small businesses average monthly payroll lyand that would go back to february 15 and that's when the coronavirus really started to come to our country and have an impact. the maximum loan amount would be $10 million. so as long as these small businesses retained their employees and issued those paychecks which keep in mind also means in many cases that those employees will get their health insurance as well, the portion of the loan used to cover payroll and mortgage, interest, rent and utility would also be forgiven. furthermore, and this is important to states like those of the presiding officer and mine which have large numbers of tourists accoming each year, employers with tipped employees would receive forgiveness for the additional wages paid to suc

treasury secretary mnuchin on coronavirus asked for a significant increase in small business administration lending authority and has spoken to the speaker about it.

small business interruption loans through their local financial institutions, the banks, their credit unions. these businesses can turn to those banks and credit unions and whoever their preferred lender might be for a federally-backed small business administration loan. qualifying businesses can use this money to cover the rent and core expenses and payroll. in fact, that's what we want them to do. we want them to continue to keep their employees on the payroll if they can so as soon as people start showing up again to patronize their business, we can see the economy take off as these people are restored to their former jobs. we're hoping to minimize the disruption that this virus will have for our main street businesses and do as much as possible to avoid layoffs. but we also need financial assistance, i would call it economic stabilization for some of the largest employers in the country, including our airlines that our economy depends upon. now, i said loans because this money will be repaid. those people who claim that somehow we are bailing out large american corporations, that's not what we're proposing here. we're not giving companies a free pass for their own bad decisions. again nobody here in america contributed to this condition we f

again, we had in our bill last week, the provisions for the small business administration to provide loans to businesses that were under duress, whether they lost their market overseas or their supply change overseas, whatever it happened to be. we thought that was an important initiative to have in the bill. they may want to do more. that's something we can talk about. but even if you have your small business loan so you can pay the rent on your store or your restaurant or your facility, if you don't have customers, you still have a problem. that's why when we do the tanf-- not tanf. the snap, the food stamps, when we do the insurance, when we have paid sick days, paid family leave, that money will be spent immediately. injects money in the economy, creates jobs, is a stimulus. this is not without an opportunity to stimulate the economy. in fact, when we did the american reinvest and recovery act, we asked the-- rosa delauro in particular asked the economists, name some of the things that we could do immediately that would be stimulus to the economy? raise the minimum wage, we're not

there's $350 billion in this bill for the small business administration to disperse the small businesses and nonprofits all over our country, with an incentive structure to change it from a loan to a grant to those who would retain for rehire their workforce. as i've heard from restaurant owners, from hotel owners, from those who work in bars and restaurants and hotels in my community, those of the folks who have been hit the first and hardest by the closure to this provision what about those small businesses to reopen quickly and robustly when we get on the other side of this pandemic. and i look forward to working with my colleagues, with the sba administrator, with the sba lenders in my state and run the country to make sure it's done well and that it is done quickly. i put the bill that added 17 billion more so that 320,000 current small businesses who are current sba loan holders get six months of relief, moves them off the agenda of the sba staff and the sba lenders to clear the decks for them to administer this 350 billion. and i supported senator cardin and his initiative to add

>> he proposes making a $2 million federal small business administration fund available for low interestney would help offset the lack of revenue now affecting tens of thousands of small businesses. additionally, the district 4 representative was due galvanize silicon valley tech giants to create a fund for grants to keep the large debt incurred by small businesses to a minimum. >> it's great that to be able to get low interest loans, but you do not want to be so in the hole that you are climbing out of debt. >> hopefully they will backfill so our tax revenue do not have to be the only source of revenues for this fund. >> back in morgan hill, hope is running out here. if there isn't a financial infusion of some kind covid-19 could force the doors to close. even if no one is infected. >> if it does not work i will shut it down by the end of the week. and waited . spirit this councilman says the loan application process is open so they can submit applications to get loans but he is still trying to get support from the tech sector for funds for grants. >>> still to come. will this test lapl

. >> congress is now asking to fund $50 billion for the small business administration to begin issuing low interest loans to affected businesses. >>> later today, house speaker nansly pelosi is aimed to speak to congress. that bill clues free testing, paid emergency leave and unemployment for people infected by the virus >>> checking in on the numbers on wall street. and the three major indexes losing 5% in premarket trading this morning. yesterday morning. it looks like a down day today. traders apparently expecting more from the president than what he offered during his oval office speech. the travel suspension could come with a steep economic loss. the dow jones down almost 1,500 points. the nasdaq and s&p 500 down. that mean an official bear market. nasdaq losing almost 400 points another down day this morning. >>> we do have more stories about the coronavirus both locally and on our scale. you can download that from your app store. >> well, i drove down from lake tahoe from skiing the other day, and, i've got to tell you, no one was on the road. the slopes were great. that's good

he also said the small business administration will be providing loans to try to help a lot of businesses who are struggling right now because fewer people are coming in, spending their money. these small business loans will help those businesses stay afloat during the outbreak. >> and he also mentioned he is asking congress to increase funding by $50 billion to help this economic stimulus package, talked about deferring tax payments without penalties for certain businesses and individuals, and providing, he's going to ask congress for immediate payroll tax relief. he also talked to some of the leaders in the insurance industry, talking about waiving copayments surrounding coronavirus testing, developing an antiviral therapy that would be available in record time. he also said he approved $8.3 billion of funding to help fight the coronavirus. so much new information coming out tonight in this live address from the oval office. we will continue to work and gather more and get analysis on this with what the president had to say coming up later tonight. >>> for right now coming up on ktvu ne

. >> now he went on to say several other measures talking about how he wanted the small business administration to be doing out loans. there were going to be tax payment deferrals. he wants to take emergency action to make sure people who aren't getting paychecks because they can't go to work are still going to be getting though paychecks. we'll see what the president has to say about this. it was this 11-minute speech where the president sought to reassure americans hoping continuing tow say this won't have a deadline though health experts are saying this is one moment in time, this is not a financial crisis. it really remains to be seen just how widespread the effects of this are going to be not given what they already are. >> all right. caitlyn collins, 11 minutes that did not soothe global markets one bit. dropping after president trump announced the 30-day european travel restrictions. looking at markets around the world you can see asian shares down sharply. europe just opened -- europe is not open yet -- no, it's open. europe is down and it's down sharply here. wall street pointed to mor

so what they need to do is call their local official and get access to the small business administrationich is really taking the lead on this, and they will be able to guide folks through how to get that grant, how to get that loan. coming up later on this hour, we are going to talk with one of the prominent republican lawmakers who is driving this, chairman mccarthy of the house ways and means committee. i spoke to one democratic lawmaker yesterday who told me that the sba, the small business administration, is going to be launching a completely new, overhauled effort to outreach to individuals to utilize the tools that are in this economic bill that is likely going to be passed within the next 24 hours. there are new tools that are being used in the middle of this pandemic that were not available before, and people need to think like that and not use the old tools but the new tools that they have available to them. guy: all right, we are going to leave it there. thank you very much indeed, kevin cirilli joining us from washington as we continue to see that story develop. here in europe

first you go to the small business administration which has been under the crunch in all of this in additiono all the state unemployment offices. but the small business administration will have a great role in this and any amount that a small business spends on payroll, rent, or utilities will convert into a grant that does not have to be repaid and that's really critical. you want the banks and the lenders to step up. that's what the federal reserve is doing is so important as we well. >> dana: that so important and we love to have you back again as people start to figure this out, if you are self-employed and you don't have a big business how do you do all these things? a lot of that can be worked out and dagen mcdowell, no one better to help us understand it. >> you're too kind. >> dana: see you later. the coronavirus shutdown and how businesses and their owners are affected. i will get mark cuban's take in just a little bit. but first, let's talk to karl rove, he will be up next. ♪ t you easily refinance to a lower rate? one call to newday can save you $2000 a year. with newday's va stre

calling on congress to extend more benefits to the small business administration. and deferral of tax payments. the president still calling for his payroll tax. that has not been warmly welcomed on capitol hill. >> it has not been warmly welcomed from democrats and even some republicans. but listening to the president here, it's stark how different he sounded tonight. we didn't hear two things that we've been hearing from him ovr and over again. we didn't hear him blame democrats for exaggerating this and using it to make him look bad. we didn't hear him blame the news media for making the problem sound worse than it is. he seemed to directly acknowledge in a way that he has not until this moment, just how serious this is. i thought it was a very different tone from him. it wasn't just the economic impact. he's been spooked by watching the stock market's reaction to this. and you heard him strike a very different tone and addressing the seriousness of this threat. just two weeks ago, he was talking about how the number of cases may quickly go down to zero in the u

businessjust the small , it's also big business and that's where i was more concerned. but even in the small business administration, one of these being about loans and loan guarantees. so essentially you are expected to pay it back at may be a low-interest or no interest but the money is supposed to be paid back. and on these loan specified in the law they are not to be forgiven. so you can't just at some later point decide in future leadership we are to forgive these loans. that's mostly in the larger business once but i have to look it over. secondly the idea the person across the street from the small business owner, they are employed somewhere hopefully as well and by helping those business whether it's large or small that these people are going to stay employed. but as i said before, there is going to be pain. it's not that much money when you think about the context of a 20 some odd trillion dollar gdp. that's going to be a real issue. , bute are going to suffer that's the reality of the situation. this is basically a bridge in the economy, not a lifesaver. host: another slide on the bottom of the screen. 35

small businesses. we need to deal with that issue. the emergency supplemental allowed small businesses to qualify for economic injury disaster loans. and provided some resources to the small business administration in order to administration that. we need to build on that upplemental. het let me point out, i have heard from some small businesses that they need information on how they qualify. we need to get that information out to small businesses so they can take advantage of what was in the first supplemental dealing with the coronavirus. our resource partners need to be better empowered. they're the ones small businesses can go to for help. our women business centers. our minority business development centers and other resource partners. we need to make sure they have the resources. we all heard last night as president trump mentioned the number for small businesses that i thought was one that we could work with. $50 billion. we need to come together in a boinch solution. i hope the disaster loans will provide help and we'll deal with resiliency, the issueus talked about, paid leave for workers of small business. dealing with telecommunicating -- telecommuting, that's going to cost some resou

. >> the president said he will meet with a small business administration to discuss stimulus measures for companies especially in the travel industry. >>> several republican lawmakers are in quarantine. florida senator matt gates; georgia senator ted collins, and ted cruz came back and tested positive for the coronavirus. the president and vice president also attended cpack. >>> our time is 4:04. the first coronavirus death in the south bay. a woman in her 60s is now forcing santa clara county to take action. the woman who died had other medical problems. she was the first person in the area diagnosed with coronavirus who had no link to international travel or contact with an infected person. and starting tomorrow, santa clara county is banning all events that have more than 1000 one,000 one thousand people to keep it from spreading. it affects concerts, san jose sharks games, soccer games for the quakes games, and all stanford basketball home games. >> this order is legally enforceable by the sheriff and by all the police departments in the county and it is a crime to disobey an orde