Speaker Nancy Pelosi said the House Democrats will pass the ‘Families First Coronavirus Response Act’ on Friday, though she did not mention support from Republicans or the White House.
The aid package secures paid sick leave, free testing, and strengthens food security initiatives, but the future of the bill remains unclear as House Republicans await a signal from the president. Pelosi added that the bill will also strengthen unemployment insurance. This bill is meant to expand upon the $8.3 billion dollar coronavirus package already signed by President Trump.
Pelosi, who delivered her remarks from the rarely-used speakers balcony, said the three most important parts of the bill are “testing, testing, testing” providing free tests to everyone including the uninsured and noted the legislation is “focused directly on providing support for America’s families, who must be our first priority.”
"Sadly, and prayerfully, we have learned of the tragic death of at least 41 Americans from this public health emergency so far," Pelosi said. "The American people expect and deserve a coordinated, science-based, and whole-of-government response to keep them and their loved ones safe."
Pelosi and Treasury Secretary Steven Mnuchin have been negotiating on the deal for days, and the Speaker’s office has been publicly tracking the calls between them to show the evolution of the negotiations.
President Trump, slated to speak Friday afternoon, could deliver a statement that will either signal to the GOP bipartisan support for the measure or leave the bill to face the hurdle of a Republican-controlled Senate.
Updated March 17 to clarify that $8.3 billion price tag refers to the initial coronavirus relief bill, not the ‘Families First Coronavirus Response Act.’
With the baby formula in the United States surging to an out-of-stock rate of 70 percent, the FDA has given Abbott permission to reopen its Michigan plant amid the crisis and authorized foreign imports. Professor Peter Pitts, a former FDA associate commissioner and current president of the Center for Medicine in the Public Interest, joined Cheddar News to discuss the ongoing shortage and its wide impact. “As difficult as things is in urban areas, they’re even worse in small communities and tribal areas where parents can't just go to the next store on the corner," he said. Pitts also noted that the Abbott factory was a "disaster" prior to its shutdown and that it would have been "regulatory malpractice" to have left it open.
Cheddar's Megan Pratz reports from the ground in Uvalde, Texas where the community's grief and frustration with lawmakers and police officers grows as more details emerge.
Catching you up on what you need to know on Tuesday, May 31, 2022, EU leaders agree to ban 90% of Russian oil by year-end, funerals begin in Uvalde, Texas one week after a mass shooting killed 19 children and two adults, and President Biden meets with the world's biggest boy band BTS.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
An inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, just below a four-decade high set in March and the first slowdown since November 2020.
The pain and grief from this week’s shooting in a 4th grade classroom at Robb Elementary School in Uvalde, Texas is still with us. Cheddar's Shannon Lanier ends the week by pausing to remember some of the faces of the 19 children killed and their teachers.
Cheddar New’s reporter Megan Pratz reports from the scene in Uvalde, Texas, with additional details that indicate the shooter was inside Robb Elementary School for more than an hour before law enforcement was able to confront and kill him.
U.S. stocks ended near session highs to close Thursday's session after retailers released positive earnings results. Investors also continued to weigh the federal reserve's recent indication that the central will raise rates in an effort to curb inflation. Adam Johnson, Portfolio Manager for Adviser Investments, joins Cheddar News' Closing Bell to discuss.
