cnbc--2020-03-11--Oil lobbyists met with White House staffers to discuss markets amid OPEC price war, coronavirus

Lobbyists representing the oil and gas industry met with White House policy staffers Wednesday morning to discuss coronavirus , the state of the economy and the market , a representative for the American Petroleum Institute told CNBC .
The meeting comes as the market has been roiled by fears of coronavirus and deteriorating OPEC talks .
After negotiations between OPEC and Russia fell apart on Friday , OPEC 's de facto leader , Saudi Arabia , on Saturday slashed its oil prices and announced plans to increase production .
This led to a selloff in oil markets and pressure on @ @ @ @ @ @ @ Monday plunged 24 % , marking the worst day since 1991 .
Saudi Aramco CEO Amin Nasser said on Wednesday that the company had been asked to supply a record 13 million barrels per day in April .
Oil fell 4 % Wednesday .
Still , the American Petroleum Institute , which represents companies including Halliburton , Hess and Occidental Petroleum , is not seeking federal aid , said the the spokeswoman , Bethany Aronhalt .
That statement comes despite reports Tuesday indicating President Donald Trump was considering a federal aid package for @ @ @ @ @ @ @ form of low-interest loans .
An official told CNBC that the White House does n't want the potential assistance to be perceived as a bailout .
API CEO Mike Sommers told Bloomberg on Tuesday the group 's focus is on balancing the oil market .
`` What we have here is a demand shock , of course , because of coronavirus , and a supply shock , because of the decision by Russia and the Saudis to flood the market with oil , '' Sommers said .
`` So , we are concerned @ @ @ @ @ @ @ into some downturn within the industry ... right now , we trying to make sure policymakers are responding in the right way .
But , ultimately , the solution here is to work in a diplomatic way to make sure oil markets are well-balanced , '' he said .
`` We 're focused on making sure the free-market works , not on some government intervention that would be outside the market , '' he added .
The Department of Energy on Tuesday suspended the sale of crude oil from the Strategic Petroleum Reserve @ @ @ @ @ @ @ the market , a move Sommers applauded .
`` We want to make sure the government continues to make these kinds of decisions that are good for the oil industry , '' he said .

Lobbyists representing the oil and gas industry met with White House policy staffers Wednesday morning to discuss coronavirus, the state of the economy and the market, a representative for the American Petroleum Institute told CNBC.
The meeting comes as the market has been roiled by fears of coronavirus and deteriorating OPEC talks. After negotiations between OPEC and Russia fell apart on Friday, OPEC's de facto leader, Saudi Arabia, on Saturday slashed its oil prices and announced plans to increase production. This led to a selloff in oil markets and pressure on U.S. energy producers.
Oil prices on Monday plunged 24%, marking the worst day since 1991. Saudi Aramco CEO Amin Nasser said on Wednesday that the company had been asked to supply a record 13 million barrels per day in April. Oil fell 4% Wednesday.
Still, the American Petroleum Institute, which represents companies including Halliburton , Hess and Occidental Petroleum , is not seeking federal aid, said the the spokeswoman, Bethany Aronhalt. That statement comes despite reports Tuesday indicating President Donald Trump was considering a federal aid package for the shale industry, potentially in the form of low-interest loans. An official told CNBC that the White House doesn't want the potential assistance to be perceived as a bailout.
White House declined to comment.
API CEO Mike Sommers told Bloomberg on Tuesday the group's focus is on balancing the oil market.
"What we have here is a demand shock, of course, because of coronavirus, and a supply shock, because of the decision by Russia and the Saudis to flood the market with oil," Sommers said.
"So, we are concerned about these geopolitical factors that are feeding into some downturn within the industry ... right now, we trying to make sure policymakers are responding in the right way. But, ultimately, the solution here is to work in a diplomatic way to make sure oil markets are well-balanced," he said.
"We're focused on making sure the free-market works, not on some government intervention that would be outside the market," he added.
The Department of Energy on Tuesday suspended the sale of crude oil from the Strategic Petroleum Reserve that would have put more oil into the market, a move Sommers applauded.
"We want to make sure the government continues to make these kinds of decisions that are good for the oil industry," he said.
CNBC's Pippa Stevens contributed to this report.


cnbc--2020-03-11--Trump's payroll tax cut proposal fails to gain traction in Congress after boosting market hopes

US Speaker of the House Nancy Pelosi , Democrat of California , speaks during her weekly press briefing on Capitol Hill , January 16 , 2020 , in Washington , DC .
With congress pushing back against President Donald Trump 's emergency proposal to eliminate the payroll tax , the idea may be dead in the water .
In response to the deadly coronavirus , Trump on Tuesday pitched Republican lawmakers on a 0 % payroll tax rate for employers and employees that would last through the rest of this year , and possibly longer .
The stock market staged @ @ @ @ @ @ @ But any such proposal would likely need to go through Congress .
And , with Democrats leading the House , it would need their go-ahead .
A multitude of lawmakers have signaled it would not pass .
House Majority Leader Steny Hoyer , D-Maryland , told the New York Times that Trump 's proposal to cut payroll taxes , which are used to fund Medicare and Social Security , is a `` non-starter , '' suggesting that the plan has no chance of passing .
Democratic senators have also taken aim at Trump @ @ @ @ @ @ @ cut would do little to help workers without paid sick days or those who have lost shifts and tips , '' Senate Finance Committee Ranking Member Ron Wyden , D-Ore. , said in a statement .
Even Republican Sen. Chuck Grassley suggested the plan would not stick because of Democrats ' demands and lack of `` bipartisan support . ''
Still , he did not it off the table completely .
`` It 's something that 's on the table , and it 's something that can be done pretty simply be done @ @ @ @ @ @ @ impact , '' he told an NBC News reporter on Wednesday .
When asked by CNBC for clarification , Grassley spokesman Michael Zona offered CNBC the following statement : '' There is n't much news here .
Democrats have announced their opposition to the idea , although they 've supported it in the past .
Sen. Grassley has said all along that it 's an option that should be considered .
Everything reasonable is on the table .
Right now , congressional leadership is engaged in discussion and working toward building consensus .
@ @ @ @ @ @ @ putting together their own proposal highlighting House Speaker Nancy Pelosi 's priorities , which could be unveiled as soon as this week , an aide for the House Appropriations Committee told CNBC .
Pelosi in a March 9 press release issued prior to the president 's 0 % payroll tax idea said that any proposal must prioritize paid sick leave , widespread and free coronavirus testing , affordable treatment for all , anti-price gouging protections and enhanced unemployment insurance .
Larry Kudlow , Trump 's top economic advisor , offered few details Tuesday @ @ @ @ @ @ @ the administration 's plan to offer economic relief from the impact of the new coronavirus through a `` temporary payroll tax holiday . ''
Treasury Secretary Steve Mnuchin did not bring up the topic during his opening remarks on the Hill Wednesday .
Mnuchin instead said that the Trump administration is looking at the possible delay of tax payments as well as loan guarantees for for hospitality industries affected by the crisis , among other things , according to the Dow Jones .

US Speaker of the House Nancy Pelosi, Democrat of California, speaks during her weekly press briefing on Capitol Hill, January 16, 2020, in Washington, DC.
With congress pushing back against President Donald Trump's emergency proposal to eliminate the payroll tax, the idea may be dead in the water.
In response to the deadly coronavirus, Trump on Tuesday pitched Republican lawmakers on a 0% payroll tax rate for employers and employees that would last through the rest of this year, and possibly longer.
The stock market staged a late-day rally on the news.
But any such proposal would likely need to go through Congress. And, with Democrats leading the House, it would need their go-ahead. A multitude of lawmakers have signaled it would not pass.
House Majority Leader Steny Hoyer, D-Maryland, told the New York Times that Trump's proposal to cut payroll taxes, which are used to fund Medicare and Social Security, is a "non-starter," suggesting that the plan has no chance of passing.
Times tweet
Democratic senators have also taken aim at Trump's proposal.
"A payroll tax cut would do little to help workers without paid sick days or those who have lost shifts and tips," Senate Finance Committee Ranking Member Ron Wyden, D-Ore., said in a statement.
Even Republican Sen. Chuck Grassley suggested the plan would not stick because of Democrats' demands and lack of "bipartisan support." Still, he did not it off the table completely.
"It's something that's on the table, and it's something that can be done pretty simply be done and it ought to have an immediate impact," he told an NBC News reporter on Wednesday.
When asked by CNBC for clarification, Grassley spokesman Michael Zona offered CNBC the following statement:
"There isn't much news here. Democrats have announced their opposition to the idea, although they've supported it in the past. Sen. Grassley has said all along that it's an option that should be considered. Everything reasonable is on the table. Right now, congressional leadership is engaged in discussion and working toward building consensus."
Democrats, meanwhile, have been putting together their own proposal highlighting House Speaker Nancy Pelosi's priorities, which could be unveiled as soon as this week, an aide for the House Appropriations Committee told CNBC.
Pelosi in a March 9 press release issued prior to the president's 0% payroll tax idea said that any proposal must prioritize paid sick leave, widespread and free coronavirus testing, affordable treatment for all, anti-price gouging protections and enhanced unemployment insurance.
Larry Kudlow, Trump's top economic advisor, offered few details Tuesday when reporters pressed him for specifics about the administration's plan to offer economic relief from the impact of the new coronavirus through a "temporary payroll tax holiday."
Treasury Secretary Steve Mnuchin did not bring up the topic during his opening remarks on the Hill Wednesday.
Mnuchin instead said that the Trump administration is looking at the possible delay of tax payments as well as loan guarantees for for hospitality industries affected by the crisis, among other things, according to the Dow Jones.


cnbc--2020-03-11--Lawmakers pressure Big Pharma on drug supply chains amid coronavirus outbreak

Employees work on the production line of Shufeng Jiedu Capsule , a Herbal Medicine for treating avian influenza patients , at a workshop of Anhui Jiren Pharmaceutical Co. , Ltd on April 8 , 2013 in Bozhou , China .
Lawmakers concerned about possible drug shortages amid the coronavirus outbreak are pressing pharmaceutical companies to bring manufacturing to the U.S. Sens .
Marsha Blackburn , R-Tenn. , and Bob Menendez , D-N.J. , are among lawmakers pushing for longer-term solutions .
The senators on Wednesday introduced a bill that would funnel $ 100 million to develop U.S. manufacturing of drugs @ @ @ @ @ @ @ challenge such as the coronavirus , it is important to take stock , look at lessons learned and build upon them in order to respond better the next time , '' Blackburn said in a statement .
About 72 % manufacturers of pharmaceutical ingredients supplying the U.S. are overseas , including 13 % in China , according to FDA testimony last year .
That could make U.S drug companies vulnerable to shortages if COVID-19 forces factories to shutter and shipments to the United States to stall , experts have warned .
The Food @ @ @ @ @ @ @ suspend most inspections for food , drug and medical devices outside the country through April , potentially putting more strain on the system .
FDA Commissioner Stephen Hahn has said the agency has been in touch with more than 180 manufacturers of drugs .
Only one , so far , has alerted the agency to a shortage .
In testimony before the Senate Committee on Health , Education , Labor and Pensions last week , Hahn said he could n't disclose which drug it was , but said it was nonessential and alternatives @ @ @ @ @ @ @ the FDA has been in touch with 63 manufacturers of medical devices and has found no reported shortages , though he acknowledged to senators in testimony a large demand for masks and fears about the U.S. stockpile .
The Blackburn-Menendez measure is at least the third legislative proposal addressing the issue .
Earlier this month , two Wisconsin congressmen , Democrat Mark Pocan and Republican Mike Gallagher , introduced the Medical Supply Chain Security Act , which could give the FDA the authority to identify sourcing locations for medical supplies .
Last year @ @ @ @ @ @ @ and Vicky Hartzler , R-Mo.
, introduced the Pharmaceutical Independent Long-Term Readiness Reform Act that would require the Department of Defense to purchase only American medicines and vaccines .
But some lawmakers are pushing for more urgent actions — and information .
Specifically , they want to know what products are vulnerable to shortages .
The FDA is not bound to disclose that information to the public .
`` The problem we are facing is : What is the risk ?
We just do n't know , '' Pocan said in an interview @ @ @ @ @ @ @ track of that supply chain is the FDA .
As I understand it , they consider it proprietary , so we do n't know . ''
Pocan wrote a letter last week to drug manufacturers including AbbVie , Amgen , Bristol-Myers Squibb and Takeda to ask for more details around potential shortages as a result of COVID-109 .
He has not heard back from any of those companies , an aide told CNBC .

Employees work on the production line of Shufeng Jiedu Capsule, a Herbal Medicine for treating avian influenza patients, at a workshop of Anhui Jiren Pharmaceutical Co., Ltd on April 8, 2013 in Bozhou, China.
Lawmakers concerned about possible drug shortages amid the coronavirus outbreak are pressing pharmaceutical companies to bring manufacturing to the U.S.
Sens. Marsha Blackburn, R-Tenn., and Bob Menendez, D-N.J., are among lawmakers pushing for longer-term solutions. The senators on Wednesday introduced a bill that would funnel $100 million to develop U.S. manufacturing of drugs.
"When confronted with a serious challenge such as the coronavirus, it is important to take stock, look at lessons learned and build upon them in order to respond better the next time," Blackburn said in a statement.
About 72% manufacturers of pharmaceutical ingredients supplying the U.S. are overseas, including 13% in China, according to FDA testimony last year. That could make U.S drug companies vulnerable to shortages if COVID-19 forces factories to shutter and shipments to the United States to stall, experts have warned.
The Food and Drug Administration said Tuesday it will suspend most inspections for food, drug and medical devices outside the country through April, potentially putting more strain on the system.
FDA Commissioner Stephen Hahn has said the agency has been in touch with more than 180 manufacturers of drugs. Only one, so far, has alerted the agency to a shortage. In testimony before the Senate Committee on Health, Education, Labor and Pensions last week, Hahn said he couldn't disclose which drug it was, but said it was nonessential and alternatives were available.
Hahn also has said the FDA has been in touch with 63 manufacturers of medical devices and has found no reported shortages, though he acknowledged to senators in testimony a large demand for masks and fears about the U.S. stockpile.
The Blackburn-Menendez measure is at least the third legislative proposal addressing the issue.
Earlier this month, two Wisconsin congressmen, Democrat Mark Pocan and Republican Mike Gallagher, introduced the Medical Supply Chain Security Act, which could give the FDA the authority to identify sourcing locations for medical supplies.
Last year, Reps. John Garamendi, D-Calif., and Vicky Hartzler, R-Mo., introduced the Pharmaceutical Independent Long-Term Readiness Reform Act that would require the Department of Defense to purchase only American medicines and vaccines.
But some lawmakers are pushing for more urgent actions — and information. Specifically, they want to know what products are vulnerable to shortages. The FDA is not bound to disclose that information to the public.
"The problem we are facing is: What is the risk? We just don't know," Pocan said in an interview.
"The only entity that keeps track of that supply chain is the FDA. As I understand it, they consider it proprietary, so we don't know."
Pocan wrote a letter last week to drug manufacturers including AbbVie , Amgen , Bristol-Myers Squibb and Takeda to ask for more details around potential shortages as a result of COVID-109.
He has not heard back from any of those companies, an aide told CNBC.


cnbc--2020-03-11--White House told federal health agency to classify coronavirus deliberations, sources say

The White House has ordered federal health officials to treat top-level coronavirus meetings as classified , an unusual step that @ @ @ @ @ the U.S. government 's response to the contagion , according to four Trump administration officials @ @ @ @ @ dozens of classified discussions about such topics as the scope of infections , quarantines and @ @ @ @ @ since mid-January in a high-security meeting room at the Department of Health & Human Services @ @ @ @ @ key player in the fight against the coronavirus .
Staffers without security clearances , including @ @ @ @ @ from the interagency meetings , which included video conference calls , the sources said .
@ @ @ @ @ critical people who did not have security clearances who could not go , '' one @ @ @ @ @ should not be classified meetings .
It was unnecessary . ''
The sources said the @ @ @ @ @ ) , which advises the president on security issues , ordered the classification .
`` @ @ @ @ @ White House , '' one official said .

The White House has ordered federal health officials to treat top-level coronavirus meetings as classified, an unusual step that has restricted information and hampered the U.S. government's response to the contagion, according to four Trump administration officials.
The officials said that dozens of classified discussions about such topics as the scope of infections, quarantines and travel restrictions have been held since mid-January in a high-security meeting room at the Department of Health & Human Services (HHS), a key player in the fight against the coronavirus.
Staffers without security clearances, including government experts, were excluded from the interagency meetings, which included video conference calls, the sources said.
"We had some very critical people who did not have security clearances who could not go," one official said. "These should not be classified meetings. It was unnecessary."
The sources said the National Security Council (NSC), which advises the president on security issues, ordered the classification."This came directly from the White House," one official said.


cnbc--2020-03-11--Harvey Weinstein sentenced to 23 years in prison for rape and sex assault in case that sparked 'MeTo

Harvey Weinstein sentenced to 23 years in prison for rape and sex assault in case that sparked 'MeToo' movement

Harvey Weinstein enters a Manhattan court house as a jury continues with deliberations in his trial on February 24 , 2020 in New York City .
prison .
Film producer Harvey Weinstein was sentenced Wednesday to 23 years in prison for a rape and sex assault case that ignited the # MeToo movement in the United States .
The sentence in Manhattan state court was less than the maximum 29 years requested by prosecutors , but could amount to an effective life sentence for the 67-year-old Weinstein , who has been in apparently frail health since being jailed following his @ @ @ @ @ @ @ also was far higher than the five years his lawyers requested from Judge James Burke .
Hours after the sentence was imposed , the Los Angeles district attorney 's office said it had begun the proceess of having Weinstein extradited to California so that he can face charges lodged in January that accused him of raping one woman and sexually assaulting a second woman over a two-day period in 2013 .
Watching in the Manhattan courtroom as Weinstein was sentenced were all of the women who had testified against the once-feared Hollywood mogul @ @ @ @ @ @ @ the room .
`` He has been using and abusing people his whole life , '' prosecutor Joan Illuzzi said after Weinstein was rolled into the courtroom in a wheelchair for the hearing .
Weinstein was convicted at trial of rape and committing a criminal sexual act more than two years after explosive news articles about his alleged serial sexual abuse of women .
Jurors found him guilty of committing a first-degree criminal sexual act by forcibly performing oral sex on production assistant Mimi Haleyi in 2006 .
He also had been convicted @ @ @ @ @ @ @ Jessica Mann in a Manhattan hotel room in 2013 .
The producer of films including `` Pulp Fiction , '' `` Shakespeare in Love '' and `` Gangs of New York '' was found not guilty of the most serious charges : two counts of predatory sexual assault for which he could have been sentenced to life in prison .
He also was acquitted of first-degree rape .
`` I really feel remorse for this situation , I feel it deeply in my heart , '' Weinstein told Burke on Wednesday .
`` @ @ @ @ @ @ @ person . ''
Weinstein gave long , rambling statement to Burke , saying his wives `` knew nothing '' about his extramarital affairs , complaining that he had not seen his children since the allegations against him were made in late 2017 , and boasting of the charity fundraising he did on the heels of the 9/11 terror attacks and Superstorm Sandy .
`` I had wonderful times with these people , '' he said , referring to the two women whose allegations led to his conviction .
`` I think men are @ @ @ @ @ @ @ said .
`` I 'm worried about this country , lots of men like myself are the latest examples . ''
Weinstein was sentenced to 20 years in prison for the attack on Haleyi and another three years , to be served consecutively , for the rape of Mann .
If he survives his prison sentence , he will have to serve five years of probation after his release .
One of Weinstein 's lawyers , Donna Rotunno , called the sentence `` obscene , '' `` obnoxious '' and `` cowardly .
@ @ @ @ @ @ @ , said it was a `` sad day for the New York City criminal justice system , '' but added , `` I have tremendous confidence in the appeals court . ''
Haleyi and Mann gave statements in court before Weinstein was sentenced .
Mann accused Weinstein of using `` his power over the powerless '' and called the crime against her `` a recurring nightmare . ''
`` Sopranos '' actress Annabella Sciorra had testified at the trial that she was raped by Weinstein in her apartment around 26 years ago .
@ @ @ @ @ @ @ of a separate charge against Weinstein .
But her testimony , along with that of five other women , was permitted by the judge to allow prosecutors to show a pattern of conduct by Weinstein to prove that he was guilty of predatory sexual assault against Mann and Haley .
Scores of other women have accused Weinstein of sexually assaulting them or engaging in less severe forms of sexual misconduct .
He has denied all such allegations .
Manhattan District Attorney Cyrus Vance Jr. said in a statement , `` We thank the @ @ @ @ @ @ @ sexual predators and abusive partners in all segments of society on notice .
We thank the survivors for their remarkable statements today and indescribable courage over the last two years . ''
`` Harvey Weinstein deployed nothing less than an army of spies to keep them silent .
But they refused to be silent , and they were heard , '' Vance said .
`` Their words took down a predator and put him behind bars , and gave hope to survivors of sexual violence all across the world . ''
The New @ @ @ @ @ @ @ Ronan Farrow , detailed how Weinstein hired private investigators , including ex-Israeli Mossad agents `` to track actresses and journalists '' who were working to expose his sexual misconduct .
Farrow 's original expose about Weinstein played a major role in his downfall .

Harvey Weinstein enters a Manhattan court house as a jury continues with deliberations in his trial on February 24, 2020 in New York City. prison.
Film producer Harvey Weinstein was sentenced Wednesday to 23 years in prison for a rape and sex assault case that ignited the #MeToo movement in the United States.
The sentence in Manhattan state court was less than the maximum 29 years requested by prosecutors, but could amount to an effective life sentence for the 67-year-old Weinstein, who has been in apparently frail health since being jailed following his conviction Feb. 24.
The prison term also was far higher than the five years his lawyers requested from Judge James Burke.
Hours after the sentence was imposed, the Los Angeles district attorney's office said it had begun the proceess of having Weinstein extradited to California so that he can face charges lodged in January that accused him of raping one woman and sexually assaulting a second woman over a two-day period in 2013.
Watching in the Manhattan courtroom as Weinstein was sentenced were all of the women who had testified against the once-feared Hollywood mogul. They were applauded as they exited the room.
"He has been using and abusing people his whole life," prosecutor Joan Illuzzi said after Weinstein was rolled into the courtroom in a wheelchair for the hearing.
Weinstein was convicted at trial of rape and committing a criminal sexual act more than two years after explosive news articles about his alleged serial sexual abuse of women.
Jurors found him guilty of committing a first-degree criminal sexual act by forcibly performing oral sex on production assistant Mimi Haleyi in 2006.
He also had been convicted of third-degree rape for attacking aspiring actress Jessica Mann in a Manhattan hotel room in 2013.
The producer of films including "Pulp Fiction," "Shakespeare in Love" and "Gangs of New York" was found not guilty of the most serious charges: two counts of predatory sexual assault for which he could have been sentenced to life in prison. He also was acquitted of first-degree rape.
"I really feel remorse for this situation, I feel it deeply in my heart," Weinstein told Burke on Wednesday.
"I'm trying to be a better person."
Weinstein gave long, rambling statement to Burke, saying his wives "knew nothing" about his extramarital affairs, complaining that he had not seen his children since the allegations against him were made in late 2017, and boasting of the charity fundraising he did on the heels of the 9/11 terror attacks and Superstorm Sandy.
"I had wonderful times with these people," he said, referring to the two women whose allegations led to his conviction.
"I think men are confused about these issues," Weinstein said. "I'm worried about this country, lots of men like myself are the latest examples."
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Weinstein was sentenced to 20 years in prison for the attack on Haleyi and another three years, to be served consecutively, for the rape of Mann.
If he survives his prison sentence, he will have to serve five years of probation after his release.
Defense lawyers plan to appeal Weinstein's conviction.
One of Weinstein's lawyers, Donna Rotunno, called the sentence "obscene," "obnoxious" and "cowardly."
Another defense lawyer, Arthur Aidala, said it was a "sad day for the New York City criminal justice system," but added, "I have tremendous confidence in the appeals court."
Haleyi and Mann gave statements in court before Weinstein was sentenced.
Mann accused Weinstein of using "his power over the powerless" and called the crime against her "a recurring nightmare."
"Sopranos" actress Annabella Sciorra had testified at the trial that she was raped by Weinstein in her apartment around 26 years ago.
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Sciorra's allegations were not the subject of a separate charge against Weinstein. But her testimony, along with that of five other women, was permitted by the judge to allow prosecutors to show a pattern of conduct by Weinstein to prove that he was guilty of predatory sexual assault against Mann and Haley.
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Scores of other women have accused Weinstein of sexually assaulting them or engaging in less severe forms of sexual misconduct. He has denied all such allegations.
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Manhattan District Attorney Cyrus Vance Jr. said in a statement, "We thank the court for imposing a sentence that puts sexual predators and abusive partners in all segments of society on notice. We thank the survivors for their remarkable statements today and indescribable courage over the last two years."
"Harvey Weinstein deployed nothing less than an army of spies to keep them silent. But they refused to be silent, and they were heard," Vance said. "Their words took down a predator and put him behind bars, and gave hope to survivors of sexual violence all across the world."
The New Yorker, in a 2017 article by Ronan Farrow, detailed how Weinstein hired private investigators, including ex-Israeli Mossad agents "to track actresses and journalists" who were working to expose his sexual misconduct. Farrow's original expose about Weinstein played a major role in his downfall.


cnbc--2020-03-12--Hotel disputes conservative lobbyist Matt Schlapp's claim of coronavirus 'screening' at CPAC site

Matt Schlapp , chairman of the American Conservative Union , arrives to introduce President Donald Trump during the Conservative Political Action Conference ( CPAC ) at National Harbor in Oxon Hill , Maryland , February 29 , 2020 .
The operator of the Maryland hotel which recently hosted a major conservative political convention has denied claims by conservative activist Matt Schlapp that state health officials `` did 2,000 screens all around the hotel '' for the coronavirus after an attendee tested positive for the disease .
Schlapp said Monday on Twitter and later in a Fox News interview that Maryland @ @ @ @ @ @ @ Union that those screenings were done after they learned a man at the Conservative Political Action Conference had been diagnosed with the coronavirus days after the conference ended Feb. 29 .
Several members of Congress announced Monday that they were self-quarantining because they had contact in late February with the man during CPAC at the Gaylord National Resort & Convention Center , which is located in National Harbor , just outside of Washington , D.C .
The annual conference run by ACU is a highlight of conservatives ' calendars , and was attended @ @ @ @ @ @ @ Mike Pence this year .
`` They did 2,000 screens all around the hotel , '' Schlapp told Fox News host Laura Ingraham via Skype from his home , where he was in self-quarantine because of his exposure to the same CPAC attendee .
`` They found nothing , '' he said .
`` Several days ago they came to us and said there 's nothing to be alarmed about , '' said Schlapp , a lobbyist who is the ACU 's chairman .
Schlapp 's wife , Mercedes Schlapp , now works @ @ @ @ @ @ @ , and previously served as director of strategic communications in the Trump White House .
Allison Sitch , a spokeswoman for Marriott , the company that operates the Gaylord National , in an email to CNBC , contradicted Matt Schlapp 's claim .
`` It is my understanding that no screens of either people or facilities has been performed at the property , '' Sitch said .
She did say that Marriott has been in contact with local health authorities `` and are following their guidance about this situation.
`` `` We take @ @ @ @ @ @ @ have already taken a number of additional steps to perform enhanced cleaning of areas of the hotel where the conference was hosted , '' she said .
At a meeting Monday of hundreds of Gaylord National workers , the hotel 's general manager `` was flat out asked if that was true '' that thousands of screenings had been performed at the hotel on the heels of CPAC , one of those workers told CNBC .
`` And he [ the manager ] said , 'No , ' '' the worker said .
@ @ @ @ @ @ @ 's been no sort of mass screening of employees ... he flat out denied it . ''
A health official from Prince George 's County , Maryland , who was also present at that meeting , said he `` did not have any knowledge that the state of Maryland had screened thousands of employees '' at the hotel , the worker said .
A spokesman for the Maryland Health Department said in an email `` I do n't have any information on this '' when first asked if any coronavirus screening was done @ @ @ @ @

Matt Schlapp, chairman of the American Conservative Union, arrives to introduce President Donald Trump during the Conservative Political Action Conference (CPAC) at National Harbor in Oxon Hill, Maryland, February 29, 2020.
The operator of the Maryland hotel which recently hosted a major conservative political convention has denied claims by conservative activist Matt Schlapp that state health officials "did 2,000 screens all around the hotel" for the coronavirus after an attendee tested positive for the disease.
Schlapp said Monday on Twitter and later in a Fox News interview that Maryland health officials had told his American Conservative Union that those screenings were done after they learned a man at the Conservative Political Action Conference had been diagnosed with the coronavirus days after the conference ended Feb. 29.
Several members of Congress announced Monday that they were self-quarantining because they had contact in late February with the man during CPAC at the Gaylord National Resort & Convention Center, which is located in National Harbor, just outside of Washington, D.C.
The annual conference run by ACU is a highlight of conservatives' calendars, and was attended by President Donald Trump and Vice President Mike Pence this year.
"They did 2,000 screens all around the hotel," Schlapp told Fox News host Laura Ingraham via Skype from his home, where he was in self-quarantine because of his exposure to the same CPAC attendee.
"They found nothing," he said.
"Several days ago they came to us and said there's nothing to be alarmed about," said Schlapp, a lobbyist who is the ACU's chairman.
Schlapp's wife, Mercedes Schlapp, now works for President Donald Trump's reelection campaign, and previously served as director of strategic communications in the Trump White House.
Allison Sitch, a spokeswoman for Marriott , the company that operates the Gaylord National, in an email to CNBC, contradicted Matt Schlapp's claim.
"It is my understanding that no screens of either people or facilities has been performed at the property," Sitch said.
She did say that Marriott has been in contact with local health authorities "and are following their guidance about this situation. "
"We take hotel hygiene and cleanliness very seriously and have already taken a number of additional steps to perform enhanced cleaning of areas of the hotel where the conference was hosted," she said.
At a meeting Monday of hundreds of Gaylord National workers, the hotel's general manager "was flat out asked if that was true" that thousands of screenings had been performed at the hotel on the heels of CPAC, one of those workers told CNBC.
"And he [the manager] said, 'No,'" the worker said. "According to the general manager there's been no sort of mass screening of employees ... he flat out denied it."
A health official from Prince George's County, Maryland, who was also present at that meeting, said he "did not have any knowledge that the state of Maryland had screened thousands of employees" at the hotel, the worker said.
A spokesman for the Maryland Health Department said in an email, "I don't have any information on this," when first asked if any coronavirus screening was done at the Gaylord National.


cnbc--2020-03-11--The Navy offers a glimpse inside the compound where its new drone warship is being built

GULFPORT , Miss .
— For the first time , the Navy allowed the media into a nondescript compound on the Mississippi coast , offering a glimpse of an unusual vessel slated to join the fleet by the end of the year .
It 's here — with its high ceilings , dusty floors and machinery hum — where the Navy 's second drone warship , Sea Hunter II , is being built and bred for battle .
`` Right now we are about six months from the water , '' Barry Dreyfus , CEO of United States Marine Inc. @ @ @ @ @ @ @ vessel 's narrow hull .
`` This long and skinny hull means it will cut through the water with less drag and be able to stay out at sea for a long time , '' he said .
Unlike a traditional warship , Sea Hunter II and its predecessor , Sea Hunter , are designed to traverse open waters without a single crew member .
The deck is clear of handrails and ladders .
Below deck , computers and neatly layered cables take the place of mess areas , heads and a galley @ @ @ @ @ @ @ automated and redundant because there is nobody on board to fix it , '' said Dan Brintzinghoffer , vice president of maritime business development at Leidos , as we stood on top of the deck .

GULFPORT, Miss. — For the first time, the Navy allowed the media into a nondescript compound on the Mississippi coast, offering a glimpse of an unusual vessel slated to join the fleet by the end of the year.
It's here — with its high ceilings, dusty floors and machinery hum — where the Navy's second drone warship, Sea Hunter II, is being built and bred for battle.
"Right now we are about six months from the water," Barry Dreyfus, CEO of United States Marine Inc., said as reporters walked alongside the vessel's narrow hull. "This long and skinny hull means it will cut through the water with less drag and be able to stay out at sea for a long time," he said.
Unlike a traditional warship, Sea Hunter II and its predecessor, Sea Hunter, are designed to traverse open waters without a single crew member. The deck is clear of handrails and ladders. Below deck, computers and neatly layered cables take the place of mess areas, heads and a galley.
"Everything has to be completely automated and redundant because there is nobody on board to fix it," said Dan Brintzinghoffer, vice president of maritime business development at Leidos, as we stood on top of the deck.


cnbc--2020-03-11--Bernie Sanders wins the North Dakota Democratic caucus, NBC News projects

Democratic presidential hopeful Bernie Sanders addresses a 'Future to Believe In ' rally at the Family Areana on March 14 , 2016 in St. Charles , Missouri .
North Dakota has 14 delegates at stake , the smallest prize offered during the March 10 Democratic contests .
Sanders took eight delegates while former Vice President Joe Biden , his chief Democratic rival in the 2020 election , won six .
Sanders ' victory comes after Biden earned a series of early wins Tuesday .
Biden won Michigan , Missouri , Mississippi and Idaho .
Of those states , Michigan boasts @ @ @ @ @ @ @ 125 on the line .
Washington , the sixth state voting on Tuesday , remains too close to call .
In the 2016 Democratic primary , the Vermont senator also won North Dakota , sweeping then-Democratic rival Hillary Clinton with 64 % of the vote to her 26 % , according to NBC News .
The latest round of primaries came a week after Super Tuesday , during which Biden won surprise victories and eked out a pledged delegate lead over Sen. Bernie Sanders .
Rep. Tulsi Gabbard of Hawaii remains in the @ @ @ @ @ @ @ Democratic nomination has fallen largely between Biden and Sanders .
So far , Biden has secured 837 delegates and Sanders has secured 689 , according to NBC News .
To win the Democratic nomination , the victor needs 1,991 delegates .
In the latest Real Clear Politics national polling average , Biden , the Democratic front-runner , has 53.5 % of support , while Sanders has 35.5 % .
In the last two weeks , Biden has received a slew of highly coveted endorsements from his former Democratic rivals who have since dropped @ @ @ @ @ @ @ , Indiana , Mayor Pete Buttigieg , along with with Sens .
Amy Klobuchar of Minnesota , Cory Booker of New Jersey and Kamala Harris of California , endorsed him , citing him as the candidate best positioned to beat Trump in November .
Sen. Elizabeth Warren , D-Mass.
, who dropped out last week , has yet to endorse a candidate .

Democratic presidential hopeful Bernie Sanders addresses a 'Future to Believe In' rally at the Family Areana on March 14, 2016 in St. Charles, Missouri.
Sen. Bernie Sanders, I-Vt., will win the North Dakota Democratic presidential caucus, NBC News projects.
North Dakota has 14 delegates at stake, the smallest prize offered during the March 10 Democratic contests. Sanders took eight delegates while former Vice President Joe Biden, his chief Democratic rival in the 2020 election, won six.
Sanders' victory comes after Biden earned a series of early wins Tuesday.
Biden won Michigan, Missouri, Mississippi and Idaho. Of those states, Michigan boasts the largest pledged delegate count, with 125 on the line.
Washington, the sixth state voting on Tuesday, remains too close to call.
In the 2016 Democratic primary, the Vermont senator also won North Dakota, sweeping then-Democratic rival Hillary Clinton with 64% of the vote to her 26%, according to NBC News.
The latest round of primaries came a week after Super Tuesday, during which Biden won surprise victories and eked out a pledged delegate lead over Sen. Bernie Sanders. Rep. Tulsi Gabbard of Hawaii remains in the race, but the contest for the Democratic nomination has fallen largely between Biden and Sanders.
So far, Biden has secured 837 delegates and Sanders has secured 689, according to NBC News. To win the Democratic nomination, the victor needs 1,991 delegates.
In the latest Real Clear Politics national polling average, Biden, the Democratic front-runner, has 53.5% of support, while Sanders has 35.5%.
In the last two weeks, Biden has received a slew of highly coveted endorsements from his former Democratic rivals who have since dropped their 2020 bids. Former South Bend, Indiana, Mayor Pete Buttigieg, along with with Sens. Amy Klobuchar of Minnesota, Cory Booker of New Jersey and Kamala Harris of California, endorsed him, citing him as the candidate best positioned to beat Trump in November.
Sen. Elizabeth Warren, D-Mass., who dropped out last week, has yet to endorse a candidate.


cnbc--2020-03-11--Joe Biden takes a big step closer to the Democratic nomination with Michigan primary victory

Joe Biden will win the Michigan primary , NBC News projected Tuesday , in a crushing blow to his last serious Democratic presidential rival , Bernie Sanders .
The former vice president continued a run of early success Tuesday as he tried to put distance between himself and the Vermont senator in his push for his party 's nomination .
He will also win primaries in Mississippi and Missouri , as well as Idaho , NBC News projects .
Sanders will carry the North Dakota caucus , NBC projects .
As the mounting victories carried Biden closer to becoming his @ @ @ @ @ @ @ subdued remarks in Philadelphia after coronavirus fears forced his campaign to cancel a planned rally in Cleveland .
Projecting another `` good night '' on Tuesday , he said `` we are a step closer to restoring dignity , decency and honor to the White House . ''
As the night 's results trickled in and his projected delegate lead over Sanders ticked higher , Biden suggested he had knocked Sanders out of contention and urged the party to unify to beat President Donald Trump in November .
`` I want to thank @ @ @ @ @ @ @ tireless energy and their passion .
We share a common goal — and together we 'll defeat Donald Trump , '' he said at the National Constitution Center .
Biden led polls of Michigan heading into the day .
Sanders , looking for a spark for his campaign , hoped to duplicate 2016 , when surveys showed him trailing Hillary Clinton by a wide margin before he narrowly won the state .
The Vermont senator 's campaign put an emphasis on winning Michigan , and not only because it awards 125 pledged delegates @ @ @ @ @ @ @ voting on Tuesday .
Biden won at least 65 delegates compared to Sanders ' 45 , according to an NBC tally .
With 93 % of the vote in Wednesday morning , Biden had 52.9 % of the vote in the state , while Sanders had 36.5 % .
Biden has opened up a bigger lead in the national delegate tally , according to NBC .
The former vice president had 836 compared to Sanders ' 686 as of Wednesday morning .
A candidate will need at 1,991 delegates to win a majority @ @ @ @ @ @ @ is scheduled for July in Milwaukee .
Winning the critical general election state was seen as helping Sanders slow Biden 's roll toward the nomination .
Biden 's bid for the White House was revived when a handful of presidential rivals and a slew of Democratic officials began backing him before and after his victory in the South Carolina primary 10 days ago .
Success for Biden in Michigan , along with another state favorable to Sanders in Washington , was expected to all but crush the senator 's hopes of winning the @ @ @ @ @ @ @ to Sanders told NBC News that he does not plan to deliver remarks Tuesday evening to address the results .
In the final days before the primary , Sanders hammered into Biden for supporting the North American Free Trade Agreement , which he has criticized as a job killer in Michigan 's auto industry .
He also highlighted past Biden comments suggesting he would freeze Social Security benefits — messaging indicating the Sanders campaign saw the need to cut into the former vice president 's support among older and white working class voters @ @ @ @ @ @ @ failed to replicate the success of his upstart 2016 bid .

Joe Biden will win the Michigan primary, NBC News projected Tuesday, in a crushing blow to his last serious Democratic presidential rival, Bernie Sanders.
The former vice president continued a run of early success Tuesday as he tried to put distance between himself and the Vermont senator in his push for his party's nomination. He will also win primaries in Mississippi and Missouri, as well as Idaho, NBC News projects. Sanders will carry the North Dakota caucus, NBC projects.
As the mounting victories carried Biden closer to becoming his party's standard bearer, he gave subdued remarks in Philadelphia after coronavirus fears forced his campaign to cancel a planned rally in Cleveland. Projecting another "good night" on Tuesday, he said "we are a step closer to restoring dignity, decency and honor to the White House."
As the night's results trickled in and his projected delegate lead over Sanders ticked higher, Biden suggested he had knocked Sanders out of contention and urged the party to unify to beat President Donald Trump in November.
"I want to thank Bernie Sanders and his supporters for their tireless energy and their passion. We share a common goal — and together we'll defeat Donald Trump," he said at the National Constitution Center.
Biden led polls of Michigan heading into the day. Sanders, looking for a spark for his campaign, hoped to duplicate 2016, when surveys showed him trailing Hillary Clinton by a wide margin before he narrowly won the state.
The Vermont senator's campaign put an emphasis on winning Michigan, and not only because it awards 125 pledged delegates, the most of the six states voting on Tuesday. Biden won at least 65 delegates compared to Sanders' 45, according to an NBC tally. With 93% of the vote in Wednesday morning, Biden had 52.9% of the vote in the state, while Sanders had 36.5%.
Biden has opened up a bigger lead in the national delegate tally, according to NBC. The former vice president had 836 compared to Sanders' 686 as of Wednesday morning. A candidate will need at 1,991 delegates to win a majority at the Democratic National Convention, which is scheduled for July in Milwaukee.
Winning the critical general election state was seen as helping Sanders slow Biden's roll toward the nomination. Biden's bid for the White House was revived when a handful of presidential rivals and a slew of Democratic officials began backing him before and after his victory in the South Carolina primary 10 days ago.
Success for Biden in Michigan, along with another state favorable to Sanders in Washington, was expected to all but crush the senator's hopes of winning the Democratic presidential nomination.
A senior aide to Sanders told NBC News that he does not plan to deliver remarks Tuesday evening to address the results.
In the final days before the primary, Sanders hammered into Biden for supporting the North American Free Trade Agreement, which he has criticized as a job killer in Michigan's auto industry. He also highlighted past Biden comments suggesting he would freeze Social Security benefits — messaging indicating the Sanders campaign saw the need to cut into the former vice president's support among older and white working class voters to win the state.
But he failed to replicate the success of his upstart 2016 bid.


cnbc--2020-03-11--Trump pitched 0% payroll tax rate for the rest of the year, White House official says

President Donald Trump , in a meeting with Republican lawmakers Tuesday on Capitol Hill , pitched a 0 % payroll tax rate for employers and employees that would last through the rest of this year , a White House official told CNBC .
There was also discussion of making the payroll tax rollback permanent , said the official , who declined to be named .
Payroll taxes are used to fund Medicare and Social Security .
When asked about the potential cost of a payroll tax cut , the official pushed back and asked why there is always a focus @ @ @ @ @ @ @ The development comes as Trump and the White House try to put together an economic stimulus plan to counteract the impact from the widening coronavirus outbreak .
After a 2,000-point drop by the Dow Jones Industrial Average on Monday , the Dow bounced back somewhat Tuesday , rising 1,000 points late in the trading session .
Earlier Tuesday , CNBC reported that the White House was not ready to roll out a specific plan of action on the economy while the deadly coronavirus spreads .
Trump stunned people in the White House on @ @ @ @ @ @ @ he said that he would announce economic policy proposals at a news conference Tuesday .
A press briefing with the White House coronavirus task force is slated for 5:30 p.m .
ET Tuesday , according to Trump 's official schedule .
The White House has also invited Wall Street executives to a meeting Wednesday to discuss an economic response to the coronavirus 's impact .
Trump met with Senate Republicans earlier Tuesday afternoon , but they did n't reach a resolution on a potential response .
Still , the president sounded an optimistic @ @ @ @ @ @ @ 's really working out , '' he said after the meeting , referring to the government 's response to the outbreak .
`` A lot of good things are going to happen . ''
Trump , who faces a bitter reelection fight this year , mentioned the possibility of a payroll tax cut Monday evening .
He has said he wants to help out the airline and cruise industries , as well , while fear of the virus and travel restrictions have crushed demand for tourism and business travel .
Republican senators have @ @ @ @ @ @ @ cut , which has been pushed by Peter Navarro , one of Trump 's leading advisors on trade policy .
Payroll taxes are paid by employers and employees .
They are used to fund Social Security , Medicare and other government programs .
For Social Security , employee wages are subject to a 6.2 % tax up to $ 137,700 .
Workers pay a Medicare tax of 1.45 % .
Employers match what employees contribute by kicking in 6.2 % toward Social Security and 1.45 % for Medicare .
Read more : What @ @ @ @ @ @ @ your pay The discussion about potential payroll tax reductions comes as Trump has come under fire for saying that he would consider cutting entitlements .
His potential Democratic rivals in November 's election , particularly Sen. Bernie Sanders , have hammered Trump for his remarks on entitlements .
The White House is also considering federal assistance for the shale industry as oil prices have tanked in recent days due to a price war between Russia and Saudi Arabia .
The administration does n't want it to be perceived as a bailout , the @ @ @ @ @ @ @ have died from the coronavirus in the U.S. , while at least 805 people have been infected .
Worldwide , more than 118,000 people have been infected , resulting in at least 4,262 deaths .

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President Donald Trump, in a meeting with Republican lawmakers Tuesday on Capitol Hill, pitched a 0% payroll tax rate for employers and employees that would last through the rest of this year, a White House official told CNBC. There was also discussion of making the payroll tax rollback permanent, said the official, who declined to be named. Payroll taxes are used to fund Medicare and Social Security. When asked about the potential cost of a payroll tax cut, the official pushed back and asked why there is always a focus on the cost of tax cuts. The development comes as Trump and the White House try to put together an economic stimulus plan to counteract the impact from the widening coronavirus outbreak. After a 2,000-point drop by the Dow Jones Industrial Average on Monday, the Dow bounced back somewhat Tuesday, rising 1,000 points late in the trading session. Earlier Tuesday, CNBC reported that the White House was not ready to roll out a specific plan of action on the economy while the deadly coronavirus spreads. Trump stunned people in the White House on Monday, according to officials, when he said that he would announce economic policy proposals at a news conference Tuesday.
watch now
A press briefing with the White House coronavirus task force is slated for 5:30 p.m. ET Tuesday, according to Trump's official schedule. The White House has also invited Wall Street executives to a meeting Wednesday to discuss an economic response to the coronavirus's impact. Trump met with Senate Republicans earlier Tuesday afternoon, but they didn't reach a resolution on a potential response. Still, the president sounded an optimistic note. "Be calm. It's really working out," he said after the meeting, referring to the government's response to the outbreak. "A lot of good things are going to happen." Trump, who faces a bitter reelection fight this year, mentioned the possibility of a payroll tax cut Monday evening. He has said he wants to help out the airline and cruise industries, as well, while fear of the virus and travel restrictions have crushed demand for tourism and business travel. Republican senators have reportedly been skeptical of a payroll tax cut, which has been pushed by Peter Navarro, one of Trump's leading advisors on trade policy. Payroll taxes are paid by employers and employees. They are used to fund Social Security, Medicare and other government programs. For Social Security, employee wages are subject to a 6.2% tax up to $137,700. Workers pay a Medicare tax of 1.45%. Employers match what employees contribute by kicking in 6.2% toward Social Security and 1.45% for Medicare.
watch now
Read more: What a payroll tax cut would mean for your pay The discussion about potential payroll tax reductions comes as Trump has come under fire for saying that he would consider cutting entitlements. His potential Democratic rivals in November's election, particularly Sen. Bernie Sanders, have hammered Trump for his remarks on entitlements. The White House is also considering federal assistance for the shale industry as oil prices have tanked in recent days due to a price war between Russia and Saudi Arabia. The administration doesn't want it to be perceived as a bailout, the official said. At least 28 people have died from the coronavirus in the U.S., while at least 805 people have been infected. Worldwide, more than 118,000 people have been infected, resulting in at least 4,262 deaths.
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cnbc--2020-03-11--IRS likely to delay April 15 tax filing deadline as part of Trump coronavirus response, WSJ says

The Trump administration is likely to push back the deadline for filing income tax returns as part of its fiscal stimulus plan to combat the impact of the coronavirus outbreak , The Wall Street Journal reported late Tuesday .
The report cited sources familiar with the matter , including an administration official .
There had yet to be a final decision on the move , nor would the logistics of how the plan would work finalized , the newspaper added .
Treasury officials were undecided about how long the deadline would be extended beyond April 15 , or who would @ @ @ @ @ @ @ .
The news comes as President Donald Trump and his economic team work to assemble a response to the deadly virus ' spread and its impact on markets and the economy .
CNBC 's Eamon Javers had reported earlier Tuesday that officials within the White House said any such plan was far from ready .
During a meeting with Senate Republicans on Tuesday , Trump pitched slashing payroll taxes to 0 % for the rest of the year .
Those taxes are used to fund Social Security and Medicare .
Neither the White @ @ @ @ @ @ @ includes the Internal Revenue Service , immediately responded to CNBC 's request for comment .
U.S. stock markets bounced back from a broad selloff Monday , with the Dow Jones Industrial Average surging more than 1,100 points Tuesday .
Futures , however , indicated more losses and another volatile session Wednesday .
More than 113,000 people have been infected with the coronavirus , known as COVID-19 , while at least 4,015 have died .
In the United States , there have been more than 1,000 cases diagnosed to go along with at least @ @ @

The Trump administration is likely to push back the deadline for filing income tax returns as part of its fiscal stimulus plan to combat the impact of the coronavirus outbreak, The Wall Street Journal reported late Tuesday.
The report cited sources familiar with the matter, including an administration official. There had yet to be a final decision on the move, nor would the logistics of how the plan would work finalized, the newspaper added. Treasury officials were undecided about how long the deadline would be extended beyond April 15, or who would be eligible, according to the report.
The news comes as President Donald Trump and his economic team work to assemble a response to the deadly virus' spread and its impact on markets and the economy.
CNBC's Eamon Javers had reported earlier Tuesday that officials within the White House said any such plan was far from ready. During a meeting with Senate Republicans on Tuesday, Trump pitched slashing payroll taxes to 0% for the rest of the year. Those taxes are used to fund Social Security and Medicare.
Neither the White House nor the Treasury Department, which includes the Internal Revenue Service, immediately responded to CNBC's request for comment.
U.S. stock markets bounced back from a broad selloff Monday, with the Dow Jones Industrial Average surging more than 1,100 points Tuesday. Futures, however, indicated more losses and another volatile session Wednesday.
More than 113,000 people have been infected with the coronavirus, known as COVID-19, while at least 4,015 have died. In the United States, there have been more than 1,000 cases diagnosed to go along with at least 28 deaths.
Read the full report here.
CNBC's Tucker Higgins contributed to this report.


cnbc--2020-03-10--CNN scraps live audience for next Democratic primary debate amid coronavirus fears

Democratic presidential candidate Sen. Bernie Sanders ( I-VT ) ( L ) , speaks as former Vice President Joe Biden gestures during the Democratic presidential primary debate at Paris Las Vegas on February 19 , 2020 in Las Vegas , Nevada .
The Democratic presidential debate scheduled to take place on Sunday in Phoenix will go forward without a live audience amid fears of spreading the new coronavirus , a spokesperson for the Democratic National Committee said Tuesday .
`` The DNC has been in regular communication with local health officials and the Mayor 's office , which advised that @ @ @ @ @ @ @ DNC communications director Xochitl Hinojosa said in a statement .
`` Nevertheless , our number one priority has and will continue to be the safety of our staff , campaigns , Arizonans and all those involved in the debate . ''
Former Vice President Joe Biden and Sen. Bernie Sanders , the two remaining major contenders for the Democratic nomination , both requested that there be no live audience , Hinojosa said .
Biden and Sanders canceled Ohio rallies earlier on Tuesday because of coronavirus concerns , the first major campaign disruption from @ @ @ @ @ @ @ yet to cancel a campaign rally because of coronavirus but is making decisions `` literally on a day to day basis , '' according to Vice President Mike Pence .
Sunday 's debate , sponsored by CNN and Univision , is the first to take place since Super Tuesday , when the field was winnowed significantly .
CNN said in a statement that there will also be no media filing center or `` spin room '' on Sunday , where surrogates for the campaigns speak to the press following the debate .
Public @ @ @ @ @ @ @ , public gatherings which could hasten the spread of the new virus , which has tanked global markets amid fears of a worldwide slowdown in economic activity .
The new disease has led to the cancellations of iconic cultural events such as Austin 's South by Southwest music festival and the closure of an increasing number of colleges and universities .
There are more than 800 known cases in the U.S. , and at least 28 have died , according to data from Johns Hopkins University .

Democratic presidential candidate Sen. Bernie Sanders (I-VT) (L), speaks as former Vice President Joe Biden gestures during the Democratic presidential primary debate at Paris Las Vegas on February 19, 2020 in Las Vegas, Nevada.
The Democratic presidential debate scheduled to take place on Sunday in Phoenix will go forward without a live audience amid fears of spreading the new coronavirus, a spokesperson for the Democratic National Committee said Tuesday.
"The DNC has been in regular communication with local health officials and the Mayor's office, which advised that we could proceed as planned," DNC communications director Xochitl Hinojosa said in a statement. "Nevertheless, our number one priority has and will continue to be the safety of our staff, campaigns, Arizonans and all those involved in the debate."
Former Vice President Joe Biden and Sen. Bernie Sanders, the two remaining major contenders for the Democratic nomination, both requested that there be no live audience, Hinojosa said.
Biden and Sanders canceled Ohio rallies earlier on Tuesday because of coronavirus concerns, the first major campaign disruption from the disease. President Donald Trump has yet to cancel a campaign rally because of coronavirus but is making decisions "literally on a day to day basis," according to Vice President Mike Pence.
Sunday's debate, sponsored by CNN and Univision, is the first to take place since Super Tuesday, when the field was winnowed significantly. CNN said in a statement that there will also be no media filing center or "spin room" on Sunday, where surrogates for the campaigns speak to the press following the debate.
cnn tweet
Public health officials have cautioned against hosting large, public gatherings which could hasten the spread of the new virus, which has tanked global markets amid fears of a worldwide slowdown in economic activity.
The new disease has led to the cancellations of iconic cultural events such as Austin's South by Southwest music festival and the closure of an increasing number of colleges and universities.
There are more than 800 known cases in the U.S., and at least 28 have died, according to data from Johns Hopkins University.


cnbc--2020-03-11--Trump endorses Tommy Tuberville, the ex-football coach facing Jeff Sessions in Alabama's GOP Senate

Trump endorses Tommy Tuberville, the ex-football coach facing Jeff Sessions in Alabama's GOP Senate primary

President Donald Trump speaks while meeting with Ecuador 's President Lenin Moreno in the Oval Office of the White House in Washington , February 12 , 2020 .
President Donald Trump pushed forward with his campaign to throttle his former attorney general 's ambitions on Tuesday night .
The president endorsed Tommy Tuberville over Jeff Sessions in Alabama 's Republican Senate primary runoff .
Tuberville , a former college football coach , aims to deny Sessions ' bid to win back a Senate seat he left to become Trump 's top law enforcement official in 2017 .
Sessions recused himself @ @ @ @ @ @ @ Russian interference in the 2016 election .
The president never forgave him as special counsel Robert Mueller 's probe hovered over his administration for nearly two years .
In a pair of tweets Tuesday , Trump called the former Auburn University football coach a `` REAL LEADER '' who `` will be a great Senator for the people of Alabama . ''
`` Coach Tommy Tuberville , a winner , has my Complete and Total Endorsement .
I love Alabama ! ''
he wrote Tuberville instantly capitalized on the president 's endorsement .
@ @ @ @ @ @ @ that implored supporters : `` Help me finish what the President started and fire Jeff Sessions on March 31st . ''
Sessions brushed off Trump 's endorsement .
In a tweeted statement early Wednesday , he said Trump `` can endorse anyone he chooses '' but `` I intend to take my case directly to the people of Alabama . ''
He added that he believes in the `` principles '' Trump had advocated , has `` always fought for them '' and will `` continue to do so . ''
In the @ @ @ @ @ @ @ , Tuberville garnered about 33 % of the vote , compared with 31 % for Sessions .
It sent the two candidates to a runoff on March 31 to decide who will face Democratic Sen. Doug Jones in November .
He won a 2017 special election to replace Sessions .
Trump reacted to the primary results by gloating over Sessions ' second-place finish .
He tweeted that `` this is what happens to someone who loyally gets appointed Attorney General of the United States & then does n't have the wisdom or courage @ @ @ @ @ @ @ Russia Witch Hunt . ''
Trump privately and publicly thrashed his ex-attorney general , both while he was in office and after he left .
He called Sessions `` beleaguered . ''
Trump reportedly referred to him as `` Mr. Magoo , '' a bumbling cartoon character with poor eyesight .
After entering Alabama 's Senate race last year , Sessions still heaped praise on the president .
Republicans have their best chance to flip a Senate seat in Alabama as they try to hold their majority in the chamber in November .
@ @ @ @ @ @ @ a dozen percentage points , according to a Cygnal poll released this week .

President Donald Trump speaks while meeting with Ecuador's President Lenin Moreno in the Oval Office of the White House in Washington, February 12, 2020.
President Donald Trump pushed forward with his campaign to throttle his former attorney general's ambitions on Tuesday night.
The president endorsed Tommy Tuberville over Jeff Sessions in Alabama's Republican Senate primary runoff. Tuberville, a former college football coach, aims to deny Sessions' bid to win back a Senate seat he left to become Trump's top law enforcement official in 2017.
Sessions recused himself from the Justice Department's investigation into Russian interference in the 2016 election. The president never forgave him as special counsel Robert Mueller's probe hovered over his administration for nearly two years.
In a pair of tweets Tuesday, Trump called the former Auburn University football coach a "REAL LEADER" who "will be a great Senator for the people of Alabama."
"Coach Tommy Tuberville, a winner, has my Complete and Total Endorsement. I love Alabama!" he wrote
Trump tweet 1
Trump tweet 2
Tuberville instantly capitalized on the president's endorsement. His campaign tweeted an appeal for donations that implored supporters: "Help me finish what the President started and fire Jeff Sessions on March 31st."
Tommy tweet
Sessions brushed off Trump's endorsement. In a tweeted statement early Wednesday, he said Trump "can endorse anyone he chooses" but "I intend to take my case directly to the people of Alabama." He added that he believes in the "principles" Trump had advocated, has "always fought for them" and will "continue to do so."
Jeff Sessions tweet
In the state's Republican primary a week ago, Tuberville garnered about 33% of the vote, compared with 31% for Sessions. It sent the two candidates to a runoff on March 31 to decide who will face Democratic Sen. Doug Jones in November. He won a 2017 special election to replace Sessions.
Trump reacted to the primary results by gloating over Sessions' second-place finish. He tweeted that "this is what happens to someone who loyally gets appointed Attorney General of the United States & then doesn't have the wisdom or courage to stare down & end the phony Russia Witch Hunt."
Trump tweet 3
Trump privately and publicly thrashed his ex-attorney general, both while he was in office and after he left. He called Sessions "beleaguered." Trump reportedly referred to him as "Mr. Magoo," a bumbling cartoon character with poor eyesight.
After entering Alabama's Senate race last year, Sessions still heaped praise on the president.
Republicans have their best chance to flip a Senate seat in Alabama as they try to hold their majority in the chamber in November. Tuberville leads Sessions in the runoff by a dozen percentage points, according to a Cygnal poll released this week.
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cnbc--2020-03-11--Joe Biden wins Missouri Democratic primary, NBC News projects, another key win for the former VP

Democratic Presidential Candidate former Vice President Joe Biden speaks to a full crowd during the Joe Biden Campaign Rally at the National World War I Museum and Memorial on March 7 , 2020 in Kansas City , Missouri .
Joe Biden will win the Missouri Democratic presidential primary Tuesday , NBC News projects , setting him up to take another healthy chunk of delegates in his race with Bernie Sanders .
Missouri has 68 pledged delegates up for grabs .
The former vice president will come away with at least 38 of them , while the Vermont senator will win @ @ @ @ @ @ @ .
The projected win adds to Biden 's early success on a night when six states held Democratic nominating contests .
The front-runner to face President Donald Trump will also win the Mississippi primary , NBC projected .
In its 2016 primary , Hillary Clinton won Missouri by a tight margin , garnering 50 % of the vote to Sanders ' 49 % .
Four years ago , the Vermont senator won a majority of white voters even as black voters overwhelmingly favored Clinton , according to exit polls .
That changed Tuesday @ @ @ @ @ @ @ Biden in Missouri , so did more than half of white voters , exit surveys found .
He also dominated among older Show Me State residents .
A recurring problem for Sanders showed up again in the state : 18 to 29-year-olds made up only 12 % of the electorate , down from 16 % in 2016 , according to exit polls .
A senior aide to Sanders told NBC News that he does not plan to deliver remarks Tuesday evening to address the results .

Democratic Presidential Candidate former Vice President Joe Biden speaks to a full crowd during the Joe Biden Campaign Rally at the National World War I Museum and Memorial on March 7, 2020 in Kansas City, Missouri.
Joe Biden will win the Missouri Democratic presidential primary Tuesday, NBC News projects, setting him up to take another healthy chunk of delegates in his race with Bernie Sanders.
Missouri has 68 pledged delegates up for grabs. The former vice president will come away with at least 38 of them, while the Vermont senator will win 19 or more, according to NBC.
The projected win adds to Biden's early success on a night when six states held Democratic nominating contests. The front-runner to face President Donald Trump will also win the Mississippi primary, NBC projected.
In its 2016 primary, Hillary Clinton won Missouri by a tight margin, garnering 50% of the vote to Sanders' 49%. Four years ago, the Vermont senator won a majority of white voters even as black voters overwhelmingly favored Clinton, according to exit polls.
That changed Tuesday. While about seven-in-10 black voters chose Biden in Missouri, so did more than half of white voters, exit surveys found.
He also dominated among older Show Me State residents. A recurring problem for Sanders showed up again in the state: 18 to 29-year-olds made up only 12% of the electorate, down from 16% in 2016, according to exit polls.
A senior aide to Sanders told NBC News that he does not plan to deliver remarks Tuesday evening to address the results.


cnbc--2020-03-11--Top financial advisory firm warns clients about coronavirus 'complacency' in Congress

A tour operator , wearing a protective mask , gestures as he leads a tour near the US Capitol in Washington , DC on March 9 , 2020 .
Financial advisory firm Signum Global Advisors , following meetings with lawmakers on Capitol Hill , has told clients not to expect a solution to coronavirus-related market turmoil to come from Washington .
The firm , which is run by former Evercore vice chairman Charles Myers , told its associates that lawmakers were `` behind the curve '' in understanding the impact of the downturn in the market is having on the @ @ @ @ @ @ @ note , first reviewed by CNBC .
The firm also warned of `` complacecncy '' among lawmakers .
`` While the Trump administration is well-attuned to markets , many on Capitol Hill remain 'behind the curve ' in appreciating the severity of the recent market downturn and its potential impact on the U.S. real economy , '' the note said .
The group said in its note , titled `` Washington will not rescue the market , '' that it felt `` pessimistic about the odds of a convincing political fiscal response '' @ @ @ @ @ @ @ The firm 's note gives a partial glimpse into how lawmakers on both sides of the aisle are perceiving the virus and their next steps in fighting it .
Congress recently passed an $ 8.3 billion emergency spending bill to combat the virus , and President Donald Trump signed it into law on Friday .
State governments , however , are still insisting they do not have enough test kits for those coming into the hospitals claiming to have symptoms .
There 's a debate inside the Trump administration about how to inject @ @ @ @ @ @ @ to calm the markets , which have been volatile for weeks .
There are over 600 confirmed cases in the United States .
Although it is unclear which members of Congress met with Signum representatives , a person familiar with the gatherings said they spoke with seven different lawmakers from the House and Senate , both Democrats and Republicans .
Signum 's massive policy arm has a global presence , with offices in New York , Washington and London .
Beyond Meyers , his team has people with extensive experience in both the @ @ @ @ @ @ @ deputy executive director who served under Hillary Clinton when she was the secretary of State .
.
The firm 's representatives also felt concerned about how lawmakers regarded the increasing severity of the COVID-19 outbreak .
`` While attention to the coronavirus has picked up in recent days within political circles , there remains a high degree of complacency – or at least widely-diverging beliefs – about the epidemic 's severity , '' the note explains .

A tour operator, wearing a protective mask, gestures as he leads a tour near the US Capitol in Washington, DC on March 9, 2020.
Financial advisory firm Signum Global Advisors, following meetings with lawmakers on Capitol Hill, has told clients not to expect a solution to coronavirus-related market turmoil to come from Washington.
The firm, which is run by former Evercore vice chairman Charles Myers, told its associates that lawmakers were "behind the curve" in understanding the impact of the downturn in the market is having on the broader economy, according to a client note, first reviewed by CNBC. The firm also warned of "complacecncy" among lawmakers.
"While the Trump administration is well-attuned to markets, many on Capitol Hill remain 'behind the curve' in appreciating the severity of the recent market downturn and its potential impact on the U.S. real economy," the note said.
The group said in its note, titled "Washington will not rescue the market," that it felt "pessimistic about the odds of a convincing political fiscal response" after their meetings earlier on Tuesday.
The firm's note gives a partial glimpse into how lawmakers on both sides of the aisle are perceiving the virus and their next steps in fighting it. Congress recently passed an $8.3 billion emergency spending bill to combat the virus, and President Donald Trump signed it into law on Friday.
State governments, however, are still insisting they do not have enough test kits for those coming into the hospitals claiming to have symptoms. There's a debate inside the Trump administration about how to inject a form of economic stimulus in order to calm the markets, which have been volatile for weeks. There are over 600 confirmed cases in the United States.
Although it is unclear which members of Congress met with Signum representatives, a person familiar with the gatherings said they spoke with seven different lawmakers from the House and Senate, both Democrats and Republicans.
Signum's massive policy arm has a global presence, with offices in New York, Washington and London. Beyond Meyers, his team has people with extensive experience in both the financial and political sectors, including a deputy executive director who served under Hillary Clinton when she was the secretary of State. .
The firm's representatives also felt concerned about how lawmakers regarded the increasing severity of the COVID-19 outbreak.
"While attention to the coronavirus has picked up in recent days within political circles, there remains a high degree of complacency – or at least widely-diverging beliefs – about the epidemic's severity," the note explains.


cnbc--2020-03-13--Big banks have cash to help some industries in short-term crisis, but for others the pain may come l

Big banks have cash to help some industries in short-term crisis, but for others the pain may come later

As the coronavirus pandemic paralyzes the country , some companies need billions of dollars to pay the bills .
The country 's largest investment banks say they 're ready and willing to give it to them .
That means the biggest corporate pain wo n't be felt from a short-term squeeze .
It will likely come later .
Leveraged-finance bankers who spoke to CNBC from some of the largest Wall Street banks say stress tests and the capital requirements imposed on them by the Dodd-Frank Act in the fallout of the Great Recession put in place a cash cushion that @ @ @ @ @ @ @ of liquidity companies will soon demand .
Bankruptcy bankers , meantime , expect the bigger carnage to come later , after the impact has been fully absorbed .
The most imminent problem is for travel , leisure and hospitality companies .
Airlines and cruises , in particular , have seen their bookings dry up but not the costs of managing and owning their equipment .
Carnival 's Princess Cruises on Thursday announced it is suspending operations for two months and will allow its guests with bookings a free refund .
United Airlines on @ @ @ @ @ @ @ domestic demand and said it expects to cut May flights by 20 % from its original plan .
Already , some companies have begun to tap the well .
Boeing plans to draw down the full amount of a $ 13.8 billion loan .
Wynn Resorts plans to draw down a portion of its $ 850 million revolving credit line , according to Bloomberg .
Hilton Worldwide Holdings is planning to draw down the remaining amount under a $ 1.75 billion revolving credit line , according to a regulatory filing Wednesday .
Bankers @ @ @ @ @ @ @ the travel , leisure and energy industries , all of which are facing pressure .
There may also be requests from those who supply the airline companies , as they see their own demand dry up .
Notably , General Electric , one of Boeing 's biggest suppliers , has a $ 35 billion revolving facility , according to its latest regulatory documents .
But bankers who spoke to CNBC said they are not concerned about companies overdrawing the well from the country 's largest banks .
`` This is not a financial @ @ @ @ @ @ @ said Wednesday during a meeting at the White House .
`` The banks and the financial system are in strong shape and we are here to help . ''
Beyond the cash cushion they 've established for themselves , bankers note that , so far , the credit requests are largely limited to the travel , hospitality and energy industries .
And there are other sources of capital , such as private equity , that continue to wait in the wings .
They may offer their liquidity in cash infusions known as private @ @ @ @ @ @ @ firm Silver Lake on Monday struck a deal with Twitter that included a $ 1 billion investment in the company .
And in times of financial strain , suppliers that have the power to put the squeeze on a struggling company are more willing to offer flexible financial terms than let everything come toppling down at once .
The government , meantime , has weighed its own intervention to help the travel and energy industries .
The airline industry , in particular , is considered by bankers and politicians alike a critical U.S. @ @

Michael Corbat, chief executive officer of Citigroup Inc., center, speaks while Brian Moynihan, chief executive officer of Bank of America Corp., second right, and U.S. President Donald Trump listen during a meeting at the White House in Washington, D.C., U.S., on Wednesday, March 11, 2020.
As the coronavirus pandemic paralyzes the country, some companies need billions of dollars to pay the bills.
The country's largest investment banks say they're ready and willing to give it to them. That means the biggest corporate pain won't be felt from a short-term squeeze. It will likely come later.
Leveraged-finance bankers who spoke to CNBC from some of the largest Wall Street banks say stress tests and the capital requirements imposed on them by the Dodd-Frank Act in the fallout of the Great Recession put in place a cash cushion that prepares them well for the massive amount of liquidity companies will soon demand.
Bankruptcy bankers, meantime, expect the bigger carnage to come later, after the impact has been fully absorbed.
The most imminent problem is for travel, leisure and hospitality companies. Airlines and cruises, in particular, have seen their bookings dry up but not the costs of managing and owning their equipment.
Carnival's Princess Cruises on Thursday announced it is suspending operations for two months and will allow its guests with bookings a free refund. United Airlines on Tuesday reported a 70% drop in domestic demand and said it expects to cut May flights by 20% from its original plan.
Already, some companies have begun to tap the well.
Boeing plans to draw down the full amount of a $13.8 billion loan. Wynn Resorts plans to draw down a portion of its $850 million revolving credit line, according to Bloomberg. Hilton Worldwide Holdings is planning to draw down the remaining amount under a $1.75 billion revolving credit line, according to a regulatory filing Wednesday.
Bankers say to expect more such moves in the travel, leisure and energy industries, all of which are facing pressure. There may also be requests from those who supply the airline companies, as they see their own demand dry up.
Notably, General Electric, one of Boeing's biggest suppliers, has a $35 billion revolving facility, according to its latest regulatory documents.
But bankers who spoke to CNBC said they are not concerned about companies overdrawing the well from the country's largest banks.
"This is not a financial crisis," Citigroup CEO Michael Corbat said Wednesday during a meeting at the White House.
"The banks and the financial system are in strong shape and we are here to help."
Beyond the cash cushion they've established for themselves, bankers note that, so far, the credit requests are largely limited to the travel, hospitality and energy industries.
And there are other sources of capital, such as private equity, that continue to wait in the wings. They may offer their liquidity in cash infusions known as private investments in public equity. Private equity firm Silver Lake on Monday struck a deal with Twitter that included a $1 billion investment in the company.
And in times of financial strain, suppliers that have the power to put the squeeze on a struggling company are more willing to offer flexible financial terms than let everything come toppling down at once.
The government, meantime, has weighed its own intervention to help the travel and energy industries. The airline industry, in particular, is considered by bankers and politicians alike a critical U.S. industry.


cnbc--2020-03-13--'Everybody is upside down:' Lobbyists flooded with calls from corporate clients worried about corona

'Everybody is upside down:' Lobbyists flooded with calls from corporate clients worried about coronavirus

A man wears a medical mask on the subway as New York City confronts the coronavirus outbreak on March 11 , 2020 in New York City .
Some of the most powerful lobbyists in Washington said Thursday that corporate leaders are growing increasingly concerned that the Trump administration and Congress do n't have a handle on the widening coronavirus crisis .
Lobbyists interviewed by CNBC said executives flooded their offices with calls Thursday , after President Donald Trump 's Wednesday night address to the nation about coronavirus failed to calm markets , leading to the worst day for U.S. stock @ @ @ @ @ @ @ '' market crash .
These business leaders are looking for answers about what Capitol Hill and the White House are going to do to assist the economy and combat the spread of the coronavirus , known as COVID-19 .
At least 38 deaths and 1,300 infections have been reported in the U.S. Trump and Congress have come under fire for the lack of an efficient response to the coronavirus .
States are calling for more test kits and funding for a better response .
House Democrats , Republicans and the White House on @ @ @ @ @ @ @ respond to the virus .
A lobbyist close to President Donald Trump , who declined be named as conversations with clients are deemed private , told CNBC that clients were dealing with many coronavirus issues .
This lobbyist noted that companies in the pharmaceutical industry are asking about any potential price gouging legislation as officials such as New York Gov .
Andrew Cuomo call for businesses to stop raising prices on products such as Purell hand sanitzer .
Scott Mason , a senior policy advisor at lobbying shop Holland & Knight , told @ @ @ @ @ @ @ included Google parent Alphabet , Nestle and Peabody Energy , have struggled to hold meetings in Congress because many lawmakers have decided to often hold discussions over the phone instead of in person .
Mason was once a member of Trump 's campaign and transition teams .
`` Clients and firms are certainly impacted by travel restrictions , '' Mason said .
`` Hill access and markets with lots of adjusting day by day on the fly , '' he said , describing the concerns of clients .
Another lobbyist close with House @ @ @ @ @ @ @ be named because the conversations were deemed private , said clients are constantly calling about what to do next .
`` Everybody is upside down .
All the clients are upside down , '' this person said .
The lobbyist also noted that airlines have called their offices to discuss upcoming cancellations and the partial travel ban from Europe that Trump announced Wednesday during his speech .
Steve Elmendorf , who was a senior advisor to former House Democratic leader Dick Gephardt for 12 years , initially only responded in a text with @ @ @ @ @ @ @ when asked what his clients are concerned about when it comes to the virus .
He declined to comment further at the time because he was so busy taking calls from businesses who were in a panic .
Elmendorf 's clients have included Goldman Sachs , Visa , Amazon , Bloomberg Philanthropies and Blackstone Group , among many others .
Later in the day , he explained to CNBC that clients are informing him that they do n't believe the government has a handle on the public health threat with a lack of @ @ @ @ @ @ @ criticism that Elmendorf has heard from leading businesses is that the economic damage from the coronavirus is going to be `` deeper than policy makers may realize and significant stimulus is going to be needed to stabilize the economy and the markets , '' he said .
Still , these worries have been brought directly to congressional leaders and White House officials and Elmendorf senses the government is stunned with what they 're seeing from the virus as it spreads throughout the country .
`` It 's like 9/11 .
People are shell-shocked @ @ @ @ @

A man wears a medical mask on the subway as New York City confronts the coronavirus outbreak on March 11, 2020 in New York City.
Some of the most powerful lobbyists in Washington said Thursday that corporate leaders are growing increasingly concerned that the Trump administration and Congress don't have a handle on the widening coronavirus crisis.
Lobbyists interviewed by CNBC said executives flooded their offices with calls Thursday, after President Donald Trump's Wednesday night address to the nation about coronavirus failed to calm markets, leading to the worst day for U.S. stock markets since 1987's "Black Monday" market crash.
These business leaders are looking for answers about what Capitol Hill and the White House are going to do to assist the economy and combat the spread of the coronavirus, known as COVID-19.
At least 38 deaths and 1,300 infections have been reported in the U.S. Trump and Congress have come under fire for the lack of an efficient response to the coronavirus. States are calling for more test kits and funding for a better response.
House Democrats, Republicans and the White House on Thursday were working on another bill to respond to the virus.
A lobbyist close to President Donald Trump, who declined be named as conversations with clients are deemed private, told CNBC that clients were dealing with many coronavirus issues. This lobbyist noted that companies in the pharmaceutical industry are asking about any potential price gouging legislation as officials such as New York Gov. Andrew Cuomo call for businesses to stop raising prices on products such as Purell hand sanitzer.
Scott Mason, a senior policy advisor at lobbying shop Holland & Knight, told CNBC that his clients, which have included Google parent Alphabet, Nestle and Peabody Energy, have struggled to hold meetings in Congress because many lawmakers have decided to often hold discussions over the phone instead of in person. Mason was once a member of Trump's campaign and transition teams.
"Clients and firms are certainly impacted by travel restrictions," Mason said. "Hill access and markets with lots of adjusting day by day on the fly," he said, describing the concerns of clients.
Another lobbyist close with House Speaker Nancy Pelosi, who declined to be named because the conversations were deemed private, said clients are constantly calling about what to do next.
"Everybody is upside down. All the clients are upside down," this person said. The lobbyist also noted that airlines have called their offices to discuss upcoming cancellations and the partial travel ban from Europe that Trump announced Wednesday during his speech.
Steve Elmendorf, who was a senior advisor to former House Democratic leader Dick Gephardt for 12 years, initially only responded in a text with the word "everything" on Thursday when asked what his clients are concerned about when it comes to the virus. He declined to comment further at the time because he was so busy taking calls from businesses who were in a panic. Elmendorf's clients have included Goldman Sachs, Visa, Amazon, Bloomberg Philanthropies and Blackstone Group, among many others.
Later in the day, he explained to CNBC that clients are informing him that they don't believe the government has a handle on the public health threat with a lack of testing and treatment needs. The other criticism that Elmendorf has heard from leading businesses is that the economic damage from the coronavirus is going to be "deeper than policy makers may realize and significant stimulus is going to be needed to stabilize the economy and the markets," he said.
Still, these worries have been brought directly to congressional leaders and White House officials and Elmendorf senses the government is stunned with what they're seeing from the virus as it spreads throughout the country.
"It's like 9/11. People are shell-shocked," he said.