President Trump Signs Coronavirus Economic Relief Bill CSPAN March 27, 2020 7:37pm-8:01pm EDT
mccarthy. i was right there with them. >> do you think this is the best method? force everybody to come back? >> i gave you an interview. >> thank you, sir. [inaudible] after the to trillion dollar coronavirus economic aid package was voted by the house, president trump held a ceremony in the oval office as he signed into law. this is a big group. thank you all very much. this is an important day, i am signing the single biggest economic relief package in american history, or any other package. twice as large as any relief ever signed. to2 billion, but goes up
$6.2 billion potentially. trillion dollars. you're talking about a $6.2 trillion bill. nothing like that. to ourll deliver relief nation's families and businesses. that is what this is about. what was the 96-0, number in congress? >> voice vote. pres. trump: that is amazing. that is fantastic. i want to thank republicans and democrats for coming together, setting aside their differences and putting america first. provides forion direct payments to individuals as -- and on president it to small businesses. we will keep our small and big business is strong and that is keeping our strongly -- our country strong. this bill includes the following. $300 billion in cash payments will be available to every
american citizen earning less than $99,000 a year. 3004 hundred dollars for a typical family of four. four, $3400. for smallloans businesses with loan forgiveness available for businesses that continue paying their workers. the workers get paid. $250 billion in expanded unemployment benefits. the average worker who lost his or her job will receive 100% of their salary for up to four months. things like this have never happened in our country. support for in hard-hit industries with a ban on corporate stock buybacks. we don't let the buyback to start, we don't let that happen. tough limits on executive compensation. our billion to support
doctors, nurses, and hospital. you see what is happening. incrediblehank the job being done by the army corps of engineers and fema. they did four hospitals in two days or three days in new york. they are incredible structures. they are doing them all over the country. $45 billion for the disaster relief fund, supporting our state, local, and tribal leaders. $27 billion for they develop it vaccines, therapies, and other health response efforts including $60 billion to build up the strategic national stockpile with reticle stockpile. we have tremendous supplies coming into the stockpile. you will see that and hear about it because we are doing a news conference at 5:30 on what is happening. resultshad tremendous on the respirators.
great results on just about everything we are talking about. boeing announced they will be making the plastic face shields, the shields, which are hard to come by, they will be making them by the thousands a week and the ventilators, probably the most if that's probably the most difficult because it is like building a car. we will announce thousands really built and we have them under contract and we had fast deliveries. we delivered thousands to new york and they were delivered to a warehouse, unfortunately they did not take them but now they are taking them. new york is taking them and we distribute them around the areas that they need. billion dollars to states to expand childcare benefits for health care workers. first responders and others on the front lines. when billion dollars for securing supplies on the defense
protection act. i've enacted the act. we used it three or four times. i pulled it back three times because the companies came through my they did not need the act. i have instituted it against general electric. we thought we had a deal for 40,000 ventilators and the 40,000 came down to 6000. then they talked about a higher price than we were discussing so i did not like it. with respect to general motors and maybe we won't need the full activation. but we need the ventilators. a wonderful guy, boris johnson, he tested positive. before he said hello, he said, we need ventilators. i said, that is a big statement. hopefully he is going to be in good shape. i spoke to angela merkel and she is quarantined also.
weeks,eriod of two forced to stay in her house. this is an incredible situation. i spoke to president xi, we talked about the experience they had in china and all the things taking place and we learned a lot. and had a top experience they are doing well and he is doing well. and we haveed a lot great communication together. we are going to be centigrade data from china. things have happened that they see. they had an early experience and we are getting all that information, much of it was sent yesterday to our scientists to study. we will have more on that. we will discuss that at 5:30. i want to thank the people behind me. they have been incredible friends, warriors, there is
nobody tougher or smarter than the people standing alongside of me. i want to start off by asking mitch and then kevin to speak and we would go through a few of the folks in the room if they would like to say something. i would love you to say a few worked 24use this man hours a day for my long time. this is the result. the biggest ever approved in congress. $6.2 trillion. we used to get used to the billion, it used to billion, now it is trillion. it is going to go a long way,
it will make a lot of people happy. mitch mcconnell, please. >> let me say, this is a proud moment for our country, for the president, republicans, democrats pulled together and passed the biggest bill in history. and in record time. i want to thank kevin mccarthy and our leaders on the republican side in the house who helped speed this through to
passage. the american people needed this rescue package, they needed it quickly, and we delivered. it is a proud moment. thank you for the opportunity to be here. pres. trump: i would love to shake your hand but they would get angry at
me so i better not do it. it is so natural, i want to go back and shake his hand. they have done an incredible job. -- the real thank answer to america, we are listening to you. you do your part, we will do hours. that is what is happening today. what mitch mcconnell did was amazing, he made it bipartisan, every one was involved. i wish we could have signed this earlier. maybe there would not be as many people out of work but this will put people back to work. i want to thank secretary mnuchin. you have done an amazing job. and all the team here. the virus is here come up we did not ask for it, did not invited. we did not use it.
but we are going to defeated together because we are going to work together. the hospitals will get money they need. small businesses will be able to hire their employees back. that is a grant, you don't have to borrow. other businesses get retention to keep your employees on. this has something for every thing. to the task force and vice president, all the work you are doing, this will be the needed resources you need as well. thank you
for your leadership. pres. trump: mike pence. could you please say something? you have been working hard, in charge of our task force. then i would like to ask steve to say a few words. v.p. pence: thanks for giving me the opportunity to express all of our appreciation and gratitude of the american people. accomplishment that is reflected in the legislation that he will sign in a few moments. you told the american people that we would do whatever it takes. you called on congress to step
forward to make coronavirus testing free for every american, make paid family leave available, with the leaders gathered around us here stepped forward in a bipartisan fashion and delivered. but today, every american family , every american business cannot know that help is on the way. i want to thank mitch mcconnell for his work in forging a bipartisan bill in the senate. i want to thank kevin mccarthy for his work. i also want to thank the democrat and republican leadership across the house and senate. this is an american accomplishment. mr. president, it is what you asked. congress to deliver for the american people. pres. trump: thank you. steven mnuchin, you
know how hard he has been working. sec. mnuchin: mr. president, thank you for your leadership. you made it clear to us last week, we should think big, this was a war on the virus, we
should have the resources to protect american workers and american business. i would like to thank the senate. it was an honor, mitch, to work with you and everyone on a bipartisan basis. this will be a great thing for the american workers. kevin mccarthy, thank you for the worse -- for the work in the house. we are committed to move forward quickly and we will get
money and people's pockets quickly. pres. trump: great job, steve. forhis is a great day american workers, protecting american workers, protecting american jobs has been a hallmark of this presidency and this bill is another important step. it includes unprecedented support for american workers who lost their jobs through no fault of their own, because of this virus. it gives them as near as we could the same weight they would have gotten through unemployment insurance if they had been able to keep their jobs for four months. billion dollars
in loans for small business, but structured in a way to incentivize them to keep their workers on payroll so those loads can be forgiven. of legislation the president signed last week for paid leave for workers who have to be at home because of the virus. paid leave, reimbursed to the employer. it is the first federal paid leave law for the private sector ever. that was achieved on a bipartisan basis. this is the third major bipartisan piece of legislation in three weeks. thank the president for his leadership, commitment to american workers. the vice president as well. and later mikado and by coley, secretary mnuchin. pres. trump: dr. county, you may want to say, what hit in the world? something hit the world will never -- will maybe never be the same. you can maybe say a
few words. dr. fauci: i want to thank everyone involved. this is what america is about, a bipartisan approach with your leadership to do something that is needed by the american people. dr. birx and i and the medical people here are fighting the virus directly but the virus has an impact on the american people directly by illness and death but also indirectly because many of the things we have to do to suppress the virus has a negative impact because of what we are doing. to give them relief economically is essential. i feel good about what is happening today. thank you all very much. you couldp: perhaps say a few words also. >> dr. county covered it well -- covered it well. he was my mentor. whenever we start with one of the serious diseases, the president's first goal was in
ensuring the health of the american people and that is why we put out of these strong guidance. it has been a pleasure to work with the economic team because they understand data in the same way. isnomic data and health data similar in how you have to interpret it in a granular way. recognizing that the health of the american people is first by the economic value of the nation is also critical. i want to thank all of you for what you have done. pres. trump: great job you are doing. kevin, please. >> 20 days ago, i don't know that anyone could have imagined how hard we have been hit medically or economically. 20 days ago, i don't think anyone could have imagined congress pulling together so quickly and forcefully behind what the president identified we needed for this country. this is a proud moment for all of us. it is an example of what leadership can provide in the white house and how we can respond as a congress.
thank you, mr. president, for your leadership. pres. trump: 20 days ago, a couple days longer maybe, we had a smooth running, beautiful machine. the greatest economy in the history of our country. we had the highest stock prices we had ever seen. it went up 150 one times during the course of the presidency. then we got hit by the invisible enemy. we got hit hard. it was not just us, it was 151 countries as of this morning. , angela merkely is in quarantine. boris johnson was diagnosed, he is positive. all other things happening, it is hard to believe what has been done in a short period of time. because of the talent behind me and lots of other talent in government, but we have done, this is a big part of it. but not the biggest part.
everybody pulled together, our nation has pulled together. the people have pulled together better than anybody and they are doing really well. just to think how life can days ago,n you go 22 everything is perfect, but are we going to hit 30,000? i want 30,000. that means more jobs. then one day we get it with a disdain that nobody ever heard of before. now we are fighting a different battle. but i really think in a short period of time, because of what they have done and what everyone has done, i think we will be stronger than ever. we will be protected from a lot of this. a lot of the things that we have done now that we are doing now will protect us in the future. should this happen again. from testing to even stockpiles. the vaccines, hopefully. , acines, cures, therapeutics
lot of -- we are making a lot of progress on vaccines. we are making perhaps progress on cures and therapeutics. we will let you know. anybody else have anything? you shye never seen away from a challenge. your leadership and policies and this great team brought america this you noticed economy and he gets to do it again. this bill is the next step in that and be can build that economy with your leadership and with the health care team you've got here, we are doing the right thing for the american people and they know that. it is not easy. we don't want to shelter in place. we want to be out. especially in the northwest. what we know we have to do this for the safety of our relatives and community and country. thanks for your leadership. a great team you have assembled. >> on behalf of small businesses, about half the people that work work for small
businesses and they are hurting. i am the ranking member of the small business committee. nonessential small businesses are shut down. without this legislation it is questionable whether they would reopen. because of this legislation, they have a great chance of that. those people that work for small businesses will be paid. that is important. if this would not have passed without your leadership. thank you. pres. trump: eric works so hard, you all know eric. he was at steve's side of the hallway. about ericthem, how and larry, say a couple words? >> thank you, mr. president. and mr. vice president. you encouraged your team to be bold, be brave, and go big. we certainly delivered. sure that we can reassure americans that their paycheck is protected and their earnings are protected. we made sure we can provide
significant reinforcement to the american economy as a result of your leadership. and looking ahead, to address the virus, we included resources in order to ensure that those therapies and that vaccine can come online as quickly as possible. andecting the public health economic health of america is what you directed us to do and with the team, we worked hard to deliver today. pres. trump: steve is going to work hard on getting the money out quickly and hopefully he can be distributed quickly. especially when they have some old computer equipment that they have to use. but you've overcome that hard. larry, please. >> hats off to mitch mcconnell. amazing job. and house as well. i agree with the bipartisanship. i want to give thanks to my friend steven mnuchin who did and i start a job. we were helping him out in one
spot or another, but he is -- he got it done. mr. president, if you month ago, this economy was four -- was roaring and we had this virus and we will deal with it. here, which has growth incentives, bill help lead us to a strong economic rebound before the year is over. pres. trump: i think people have a tremendous rebound toward the end of the year. we will have a rebound iq have never seen before. even now, it wants to be bound. it wants to rebound so badly. we have had the biggest ever stock market surge two days ago and yesterday was great. three biggest days in the history of the stock market. it wants to rebound so badly but we have to get rid of the virus. i am going to sign this. it is a great honor.
$6.2 trillion. i never signed anything with a t on it. i don't know if i can handle this one. we cannot chicken out at this point. thank you all. [applause] come on over here. what a job she is doing with transportation. i was 20 partition? >> you always talk about the supply chain. this bill will help the supply chain and the workers. pres. trump: anthony. thank you very much. ok. >> thank you.
>> appreciate it. pres. trump: thank you very much. bob was a little less involved in this, he was busy making trade agreements. thank you, everybody. we are going to have a 5:30 conference in the same location, it seems to be going well. we appreciate everything at we appreciate the fairness from most of the press. thank you very much, everybody. rare agreement today between you and senator terry over this issue. can you expand? pres. trump: he made a joke, i thought he was on a congressman massey. because of that, i guess people had to come back and they had to go into a place where they were not supposed to be in light of what we are doing with deborah and tony at all the professionals. people had to come back.
no reason for it. itn kerry made a joke out of and i agreed with his joke. i never knew he had that kind of a personality. we put it up and he was right. we will see you in a couple minutes. >> >> tonight on c-span, a special edition of washington journal, looking at the effect of the coronavirus on the u.s. food supply. we welcome your calls and comments. after that, today's coronavirus task force referring. and the governors of new york, new jersey and louisiana. -- coronavirus task force briefing. talking about their efforts to combat the endemic. now, special presentation of washingtonou