National Economic Council (NEC) Director Larry Kudlow held an impromptu press conference to describe what sectors of the U.S. economy may need direct financial assistance to bridge revenue gaps from mandated government policy. The stock market is not the U.S. economy.

Calling this type of financial assistance a “bailout” is not a fair term considering the financial impact was created by government instruction.  Government orders to shut down restaurants creates a financial loss for restaurants who also have bills and payroll obligations to meet.  These types of affected businesses will need immediate assistance.

Airlines, hotels, resorts, private parks, gyms, restaurants and various entertainment companies/industries may also need a direct infusion of cash or deferred tax payment to compensate for financial losses.  Again, these businesses have been impacted by government ordering their closure. Depending on the size of the business, the need for gap funds may be urgent.

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Vice-President Mike Pence and the COVID-19 task force will be holding a press briefing from the White House at 3:30pm ET.  Livestream Links Below

WH Livestream Link – Fox News Livestream Link – CSPAN Livestream Link

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White House trade advisor Peter Navarro appears on CNBC to discuss the White House’s response to the coronavirus outbreak, and the administration’s plan to help stimulate the economy.

Navarro gives examples of the public-private partnership working together with logistics of getting critical supplies distributed; also Navarro discusses the importance of timely and targeted stimulus measures.   Additionally, Navarro outlines the construct of a likely executive order to shift medical supply manufacturing back to the U.S.

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National Economic Council Director Larry Kudlow discusses what economic options the U.S. government has to mitigate and assist businesses and individuals dealing with the financial impacts of coronavirus.

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Note to Mr. Kudlow: Do not trust Dr. Anthony Fauci.

Fauci is a purposeful panic seller. His goals are not the administrations goals.

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White House trade and manufacturing advisor Peter Navarro discusses the administration effort, a possible executive order, to shift U.S. dependency for critical health sector and pharmaceutical products back to domestic production.  [Important Discussion]

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Telling people to remain calm and simultaneously forcing people to remain in their homes would seem to be a contradiction in messaging; potentially only worsening the panic.  However, this is one of those, “well, yes it’s unconstitutional except when….” moments, that may have rather profound consequences.

The Democrat mayor of Hoboken New Jersey has announced a mandatory curfew between 10pm and 5am where all residents are not permitted to exit their residence; and all bars must close due to the coronavirus.

I don’t know if this is the first ‘mandatory’ coronavirus curfew, or even how such an effort could feasibly be enforced, but it’s likely not going to be the last:.

New Jersey – 10:45pm ET – Hoboken Mayor Ravinder Bhalla announced a citywide curfew will be in effect starting Monday. The curfew also places major restrictions on bars and restaurants.

The curfew will be in effect from 10 p.m.- 5 a.m.starting on Monday, and until further notice.  Residents will be required to stay home, except for emergencies, or if needed at work by their employer.

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Canada completes the North American cycle with their ratification of the USMCA to replace NAFTA. Mexico and the U.S. ratified the new trade agreement last year and January respectively.  The Canadian parliament did so yesterday.

CANADA – Canada on Friday formally approved the United States-Mexico-Canada Agreement (USMCA), taking the last legislative step to implementation of the deal to replace the 25-year-old North American Free Trade Agreement (NAFTA).

The trade deal, ratified by the Mexican legislature last June and by Congress in January, was formally ratified by the Canadian Senate Friday, and shortly thereafter received royal assent, the Canadian governor general’s approval.

The deal was passed through the legislature before Parliament shut down for five weeks in response to the coronavirus pandemic.

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Following a 10:00am meeting with President Trump and the COVID-19 task force members, Vice-President Mike Pence will be holding a press briefing at noon.

UPDATE: Video Added (Just Hit Play)

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At approximately 1:00am this morning the House of Representatives passed the Coronavirus Response Act [H.R.6201]  (House Link Here)

The final text of the bill is also embedded below.

The Bill passed: 363-Yay/40-Nay with 26-Not Voting [Vote Tally Here]

[scribd id=451664181 key=key-TpgzK792x3tz3D3azeRw mode=scroll]

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Additionally, President Trump exercised statutory authorities to declare a national emergency in response to the coronavirus.  The unprecedented action invites States, territories, and tribes to access over $42 billion in existing funding to combat the coronavirus.

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It took some digging but we found it. The 2020 Coronavirus Response Act is H.R.6201 [SEE HERE].

Speaker Nancy Pelosi is saying the Democrats and White House have made an agreement to pass the content of the Coronavirus Response Act.  However, there is no confirmation from the White House (yet).

President Trump is meeting with Treasury Secretary Steven Mnuchin in the White House right now.

WASHINGTON – House Democrats and the Trump administration reached agreement on a coronavirus response package Friday after a day of grueling negotiations, House Speaker Nancy Pelosi said.

“We are proud to have reached an agreement with the Administration to resolve outstanding challenges, and now will soon pass the Families First Coronavirus Response Act,” she wrote to Democrats after hours of back-and-forth with Treasury Secretary Steven Mnuchin.

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