cnbc--2020-03-20--GOP Sen. Hoeven bought up to $250,000 in health sciences fund days after coronavirus briefing

GOP Sen. John Hoeven , R-N.D. , purchased between $ 100,000 and $ 250,000 of stock in a fund invested in health sciences companies in late January , just days after attending a briefing on the federal government 's response to the coronavirus .
The Jan. 29 purchase of shares in the BlackRock Health Sciences Trust II fund , detailed in Hoeven 's financial disclosure report filed in February , came before markets began plunging later that month , once the unfolding public health crisis began to affect economies around the world .
It came five days after Hoeven was @ @ @ @ @ @ @ Disease Control and Prevention , the National Institutes of Health and the State Department on efforts to contain COVID-19 , the disease caused by the novel coronavirus .
The purchase came on the same day as the fund 's initial public offering .
The fund , which owns shares in pharmaceutical developers and medical device manufacturers , has outperformed the broader market slightly since Hoeven 's purchase .
Between the market close Jan. 29 and its open on Friday , BMEZ has fallen 20.3 % , compared with the S & P 500 @ @ @ @ @ @ @ Capener , a spokesperson for the senator , said in a statement that Hoeven 's purchase was not motivated by the Jan. 24 briefing and that Hoeven approved the purchase weeks beforehand .
`` No , the fund was purchased based on the recommendation of his financial advisor and in accordance with Senate regulations and reporting requirements , '' Capener said .
`` Also , the senator agreed to his financial advisor 's recommendation during the first week in January , however the fund did n't IPO until January 29 . ''
In @ @ @ @ @ @ @ could substantiate that timeline , Capener forwarded an email sent to her by John Mayer , a financial advisor at Stifel , on Friday .
`` I received the Investor Kit for the Blackrock Health Sciences Trust II fund on January 2nd and contacted Senator Hoeven to recommend he invest in it , '' Mayer wrote in the email to Capener .
Mayer did not respond to an emailed inquiry asking about when he made the recommendation to Hoeven and when Hoeven approved the purchase .
The fund 's top holdings are Teleflex @ @ @ @ @ @ @ ; Genmab , a Danish biotechnology firm specializing in cancer treatments , and Seattle Genetics , another biotechnology company fighting cancer , which is based in Washington .
Hoeven is the latest lawmaker to come under scrutiny for securities trades that have raised questions about whether those in government have used their positions to avoid the heavy financial losses that have hit the public .
The purchase represents only a small portion of Hoeven 's portfolio .
Hoeven served as the president and CEO of the Bank of North Dakota for seven years @ @ @ @ @ @ @ has reported owning millions of dollars in shares , including large stakes in companies such as Apple , Coca-Cola , Intel and Kraft Heinz .
Hoeven , though , did not appear to own shares of the previous BlackRock health sciences fund — Health Sciences Trust — at any point in the last four years for which data is available .
That fund debuted in 2005 .
Hoeven purchased between $ 100,000 and $ 250,000 of stock in a separate BlackRock fund , Science and Technology Trust II , on Nov. 19 .
@ @ @ @ @ @ @ Hoeven also owns between $ 250,000 and $ 500,000 worth of BlackRock shares , according to his 2018 financial disclosure .
His 2019 disclosure is not due until May .
Senators are barred from trading on material nonpublic information derived from their position in Congress , although it 's not clear if such a prohibition would apply if the information is not related to a specific company .
Sen. Elizabeth Warren , D-Mass.
, has called for tougher rules around stock trades in Congress .
The former presidential candidate has introduced legislation that @ @ @ @ @ @ @ single stocks entirely .
Four other lawmakers have come under scrutiny in recent days over stock trades made before the coronavirus pandemic tanked markets .
Senate Intelligence Committee Chairman Richard Burr , R-N.C. ; Sen. Kelly Loeffler , R-Ga. , who is married to the chairman and CEO of the New York Stock Exchange 's parent the Intercontinental Exchange ; Sen. Dianne Feinstein , D-Calif. , another member of the intelligence committee ; and Sen. Jim Inhofe , R-Okla. , all unloaded large amounts of stock while the major indexes were still at @ @ @ @ @ @ @ & P 500 and Dow Jones Industrial Average have both entered bear markets this month , halting 11-year bull runs .
Burr , who sold between $ 630,000 and $ 1.7 million worth of stock one week before the market slide , said in a statement on Friday that his decision to sell was based `` solely on public news reports , '' including those from CNBC .
He said that he asked the Senate Ethics Committee to conduct `` a complete review of the matter with full transparency . ''
Loeffler , @ @ @ @ @ @ @ , sold shares worth between $ 1.25 million and $ 3.1 million in late January and early February .
Loeffler also bought between $ 100,000 and $ 250,000 in Citrix , a technology firm that makes teleworking software and has seen its share price boosted since the coronavirus crisis .
`` These were completely discretionary trades at the decision of our investment managers , '' Loeffler said Friday on CNBC 's `` The Exchange . ''
`` Certainly I had no involvement and will continue to have no involvement in these investment decisions @ @ @ @ @ @ @ the transactions Friday .

GOP Sen. John Hoeven, R-N.D., purchased between $100,000 and $250,000 of stock in a fund invested in health sciences companies in late January, just days after attending a briefing on the federal government's response to the coronavirus.
The Jan. 29 purchase of shares in the BlackRock Health Sciences Trust II fund, detailed in Hoeven's financial disclosure report filed in February, came before markets began plunging later that month, once the unfolding public health crisis began to affect economies around the world.
It came five days after Hoeven was briefed by officials from the Centers for Disease Control and Prevention, the National Institutes of Health and the State Department on efforts to contain COVID-19, the disease caused by the novel coronavirus.
The purchase came on the same day as the fund's initial public offering.
The fund, which owns shares in pharmaceutical developers and medical device manufacturers, has outperformed the broader market slightly since Hoeven's purchase. Between the market close Jan. 29 and its open on Friday, BMEZ has fallen 20.3%, compared with the S&P 500's losses of 25.7%.
Kami Capener, a spokesperson for the senator, said in a statement that Hoeven's purchase was not motivated by the Jan. 24 briefing and that Hoeven approved the purchase weeks beforehand.
"No, the fund was purchased based on the recommendation of his financial advisor and in accordance with Senate regulations and reporting requirements," Capener said. "Also, the senator agreed to his financial advisor's recommendation during the first week in January, however the fund didn't IPO until January 29."
In response to a request for documentation that could substantiate that timeline, Capener forwarded an email sent to her by John Mayer, a financial advisor at Stifel, on Friday.
"I received the Investor Kit for the Blackrock Health Sciences Trust II fund on January 2nd and contacted Senator Hoeven to recommend he invest in it," Mayer wrote in the email to Capener.
Mayer did not respond to an emailed inquiry asking about when he made the recommendation to Hoeven and when Hoeven approved the purchase.
The fund's top holdings are Teleflex , a Pennsylvania-based specialty medical devices manufacturer; Genmab , a Danish biotechnology firm specializing in cancer treatments, and Seattle Genetics , another biotechnology company fighting cancer, which is based in Washington.
Hoeven is the latest lawmaker to come under scrutiny for securities trades that have raised questions about whether those in government have used their positions to avoid the heavy financial losses that have hit the public.
The purchase represents only a small portion of Hoeven's portfolio. Hoeven served as the president and CEO of the Bank of North Dakota for seven years before becoming the state's governor and has reported owning millions of dollars in shares, including large stakes in companies such as Apple , Coca-Cola , Intel and Kraft Heinz .
Hoeven, though, did not appear to own shares of the previous BlackRock health sciences fund — Health Sciences Trust — at any point in the last four years for which data is available. That fund debuted in 2005.
Hoeven purchased between $100,000 and $250,000 of stock in a separate BlackRock fund, Science and Technology Trust II , on Nov. 19. That fund commenced operations in June.
Hoeven also owns between $250,000 and $500,000 worth of BlackRock shares, according to his 2018 financial disclosure. His 2019 disclosure is not due until May.
Senators are barred from trading on material nonpublic information derived from their position in Congress, although it's not clear if such a prohibition would apply if the information is not related to a specific company.
Sen. Elizabeth Warren, D-Mass., has called for tougher rules around stock trades in Congress. The former presidential candidate has introduced legislation that would bar members of Congress from owning single stocks entirely.
Four other lawmakers have come under scrutiny in recent days over stock trades made before the coronavirus pandemic tanked markets.
Senate Intelligence Committee Chairman Richard Burr, R-N.C.; Sen. Kelly Loeffler, R-Ga., who is married to the chairman and CEO of the New York Stock Exchange's parent the Intercontinental Exchange; Sen. Dianne Feinstein, D-Calif., another member of the intelligence committee; and Sen. Jim Inhofe, R-Okla., all unloaded large amounts of stock while the major indexes were still at or near record highs.
The S&P 500 and Dow Jones Industrial Average have both entered bear markets this month, halting 11-year bull runs.
Burr, who sold between $630,000 and $1.7 million worth of stock one week before the market slide, said in a statement on Friday that his decision to sell was based "solely on public news reports," including those from CNBC.
He said that he asked the Senate Ethics Committee to conduct "a complete review of the matter with full transparency."
Loeffler, along with her husband, Jeffrey Sprecher, sold shares worth between $1.25 million and $3.1 million in late January and early February. Loeffler also bought between $100,000 and $250,000 in Citrix , a technology firm that makes teleworking software and has seen its share price boosted since the coronavirus crisis.
"These were completely discretionary trades at the decision of our investment managers," Loeffler said Friday on CNBC's "The Exchange." "Certainly I had no involvement and will continue to have no involvement in these investment decisions."
The Intercontinental Exchange also defended the transactions Friday.


cnbc--2020-03-20--Trump invoked the Defense Production Act. Here's how he can use its powers

U.S. President Donald Trump speaks during a news conference in the briefing room of the White House in Washington , D.C. , U.S. , on Monday , March 16 , 2020 .
President Donald Trump on Friday said he will use the Defense Production Act in response to the deadly coronavirus pandemic .
The Korean War-era statute can force certain American companies to produce materials that are in short supply in the face of the growing outbreak .
During Friday 's coronavirus task force briefing , Trump said the administration on Thursday night `` put it into gear , '' @ @ @ @ @ @ @ multiple companies about it .
`` Most of the states , in no way did they do anything wrong , they were stocked up , '' Trump said on Friday .
`` They were all equipped .
Unfortunately they 've never had a thing like this .
So they need help from the federal government . ''
Trump would not identify any manufacturers , but said , `` We 're working with one [ automaker ] in particular , the ones that make ventilators , '' he said .
`` They say they @ @ @ @ @ @ @ me , but they can do it very easily . ''
When pressed , he added that General Motors was one of the companies that has already said it would aid in production of necessary supplies .
The Defense Production Act , an option the administration had been mulling for weeks , gives the U.S. government significant authority in the realm of national defense .
By invoking it , the president can compel American companies to suspend their normal production schedules and begin manufacturing particular materials needed in time of a crisis .
@ @ @ @ @ @ @ work with companies to ramp up production of protective gear needed by health professionals on the front lines of the crisis as hospitals , stores and testing centers warn that they 're experiencing shortages in medical masks , ventilators , gloves , testing swabs and other essential equipment .
New York Gov .
Andrew Cuomo said on Thursday that the state has about 5,000 ventilators but anticipates needing 30,000 .
New York has the most confirmed cases of the coronavirus out of all 50 states .

U.S. President Donald Trump speaks during a news conference in the briefing room of the White House in Washington, D.C., U.S., on Monday, March 16, 2020.
President Donald Trump on Friday said he will use the Defense Production Act in response to the deadly coronavirus pandemic.
The Korean War-era statute can force certain American companies to produce materials that are in short supply in the face of the growing outbreak.
During Friday's coronavirus task force briefing, Trump said the administration on Thursday night "put it into gear," adding that he has already spoken with multiple companies about it.
"Most of the states, in no way did they do anything wrong, they were stocked up," Trump said on Friday. "They were all equipped. Unfortunately they've never had a thing like this. So they need help from the federal government."
Trump would not identify any manufacturers, but said, "We're working with one [automaker] in particular, the ones that make ventilators," he said. "They say they've done it before, which surprises me, but they can do it very easily."
When pressed, he added that General Motors was one of the companies that has already said it would aid in production of necessary supplies.
The Defense Production Act, an option the administration had been mulling for weeks, gives the U.S. government significant authority in the realm of national defense.
By invoking it, the president can compel American companies to suspend their normal production schedules and begin manufacturing particular materials needed in time of a crisis.
In this case, the administration can work with companies to ramp up production of protective gear needed by health professionals on the front lines of the crisis as hospitals, stores and testing centers warn that they're experiencing shortages in medical masks, ventilators, gloves, testing swabs and other essential equipment.
New York Gov. Andrew Cuomo said on Thursday that the state has about 5,000 ventilators but anticipates needing 30,000. New York has the most confirmed cases of the coronavirus out of all 50 states.


cnbc--2020-03-20--Sen. Loeffler, NYSE CEO husband defend stock sales after her private coronavirus briefing

Intercontinental Exchange , which owns other exchanges and clearing houses , said in a statement that the nearly 30 transactions involving the couple were `` in compliance '' with company policies .
The sales occurred before a sharp drop in the stock market indexes in recent weeks as the coronavirus pandemic wreaked havoc on the U.S. economy .
On Thursday night , reports said Loeffler and other GOP senators , Intelligence Committee Chairman Richard Burr of North Carolina and Oklahoma 's James Inhofe , along with California Democratic Sen. Dianne Feinstein , dumped shares worth up to $ 10 million @ @ @ @ @ @ @ private briefing to senators about coronavirus by Trump administration health officials .
Loeffler 's interview came a day after news reports revealed about nearly 30 trades since late January in accounts owned by her and Sprecher .
She said the trades were a mix of buys and sells , and that some of the trades were `` quite bullish . ''
`` I have no discretion over ... our portfolio . ''
`` We have no knowledge of these companies '' whose stocks were sold and bought , Loeffler said , referring to @ @ @ @ @ @ @ identify those third-party investment advisors by name after being asked to do so .
Instead , Loeffler said , those decisions involving nearly 30 trades were made by third-party investment advisors without any input by herself or her husband , Jeff Sprecher , , CEO of both the NYSE and its holding company , Intercontinental Exchange .
`` I had no involvement in the decisions '' to trade the stocks , the freshman lawmaker said .
`` I am very confident that we have followed the letter and spirit of the law , @ @ @ @ @ @ @ on CNBC 's `` The Exchange . ''
Sen. Kelly Loeffler and her husband 's firm , which owns the New York Stock Exchange , defended on Friday the propriety of the couple 's sales of up to $ 3 million worth of stocks after she was privately briefed by federal officials about the coronavirus outbreak .
Sen. Kelly Loeffler , R-Ga. , her husband Jeffrey Sprecher participate in Loefflers swear-in reenactment for the cameras in the Capitol on Monday , Jan. 6 , 2020 .
`` Mr. Sprecher and Senator Loeffler have @ @ @ @ @ @ @ by their financial advisors without Mr. Sprecher 's or Senator Loeffler 's input or direction , '' the firm said .
`` Such transactions are in compliance with Intercontinental Exchange , Inc. policies and procedures . ''
`` These were not transactions in ICE securities , and any transactions by Mr. Sprecher or Senator Loeffler in ICE securities have been executed through a Rule 10b5-1 trading plan that was approved by Intercontinental Exchange , '' the firm said .
`` Per ICE policy , all trading plans require a 30-day cooling off period @ @ @ @ @ @ @ adopted to the date of the first transaction . ''
Loeffler reported in a disclosure filing this week a string of stock sales that began on Jan. 24 , the same day her Senate committee hosted the closed-door briefing about the spread of the coronavirus by Trump administration officials .
Over the next three weeks , Loeffler and Sprecher sold shares worth $ 1.25 million to $ 3.1 million , according to disclosure records .
But on Feb. 14 , accounts owned by Loeffler and Sprecher bought stock in Citrix , which provides @ @ @ @ @ @ @ the technology company .
Many Americans have been working remotely from home as companies closed or reduced staff at their physical offices due to the COVID-19 crisis .
Loeffler 's transactions were first reported Thursday by The Daily Beast .
Loeffler 's spokeswoman on Thursday called that story `` a ridiculous and baseless attack . ''
Despite the statements by Loeffler and Intercontinental Exchange , the controversy over the stock sales by her and the other senators is not likely to go away anytime soon .
The government advocacy group Common Cause said @ @ @ @ @ @ @ Justice Department , the Securities and Exchange Commission and the Senate Ethics Committee `` calling for immediate investigations '' of Loeffler , Burr , Feinstein and Inhofe `` for possible violations of the STOCK Act and insider trading laws .
The STOCK Act bars members of Congress from using inside information from their official positions for private gain .
Common Cause said the trades by the senators as alleged involved `` potentially criminal misconduct . ''
`` These Senators appear to have used classified intelligence briefings as stock tips and sold off significant @ @ @ @ @ @ @ , '' said Paul Ryan , Common Cause Vice President for Policy and Litigation .
`` These laws are on the books for a good reason , without them the potential to abuse the power of elected office for personal enrichment would be virtually unlimited . ''
The federal Securities and Exchange Commission had no immediate comment when contacted by CNBC .
Another group , Citizens for Responsibility and Ethics in Washington , filed a complaint with the Senate Ethics Committee asking for probes of Loeffler and Burr for possible violations of the @ @ @ @ @ @ @ a U.S .
Senator is to serve the American people , '' said CREW Executive Director Noah Bookbinder .
`` It appears that in a time of crisis , these senators chose instead to serve themselves , violating the public trust and abdicating their duty , '' Bookbinder said .
`` They must be immediately investigated . ''
Rep. Alexandria Ocasio-Cortez , D-N.Y. , called on Burr and Loeffler to resign , tweeting : `` It is stomach-churning that the first thoughts these Senators had to a dire & classified # COVID briefing @ @ @ @ @ @ @ . ''
`` They did n't mobilize to help families , or prep response .
They dumped stock , '' Ocasio-Cortez wrote .
In a statement Friday , Burr said his decision to off-load his stock was based `` solely on public news reports , '' including those from CNBC 's Asia bureaus about the spread of coronavirus .
`` Understanding the assumption many could make in hindsight however , I spoke this morning with the chairman of the Senate Ethics Committee and asked him to open a complete review of the matter @ @ @ @ @ @ @ .
On Feb. 13 , one week before U.S. stocks began sliding , Burr sold more than $ 500,000 worth of shares in a single day .
The sales amounted to 33 individual transactions , and if they totaled the high end of the range that Burr reported , around $ 1.7 million , that would equal nearly all of his net worth .
Burr 's trades were first reported by ProPublica .
North Carolina 's other U.S. senator , Thom Tillis , who is also a Republican , said on Twitter that @ @ @ @ @ @ @ Burr owes North Carolinians an explanation . ''
`` His self-referral to the Ethics Committee for their review is appropriate , there needs to be a professional and bipartisan inquiry into this matter , which the Ethics Committee can provide , '' Tillis said .

Sen. Kelly Loeffler and her husband's firm, which owns the New York Stock Exchange, defended on Friday the propriety of the couple's sales of up to $3 million worth of stocks after she was privately briefed by federal officials about the coronavirus outbreak.
At the same time, two good-government advocacy groups filed complaints against Loeffler, R-Ga., and other senators, in connection with their sales of stocks after that closed-door briefing on Jan. 24.
"I am very confident that we have followed the letter and spirit of the law," Loeffler said in an interview on CNBC's "The Exchange."
"I had no involvement in the decisions" to trade the stocks, the freshman lawmaker said.
Instead, Loeffler said, those decisions involving nearly 30 trades were made by third-party investment advisors without any input by herself or her husband, Jeff Sprecher, chairman of the NYSE, and chairman and CEO of its holding company, Intercontinental Exchange .
Loeffler did not identify those third-party investment advisors by name after being asked to do so.
"We have no knowledge of these companies" whose stocks were sold and bought, Loeffler said, referring to her and Sprecher.
"I have no discretion over ... our portfolio."
She said the trades were a mix of buys and sells, and that some of the trades were "quite bullish."
Loeffler's interview came a day after news reports revealed about nearly 30 trades since late January in accounts owned by her and Sprecher.
On Thursday night, reports said Loeffler and other GOP senators, Intelligence Committee Chairman Richard Burr of North Carolina and Oklahoma's James Inhofe, along with California Democratic Sen. Dianne Feinstein, dumped shares worth up to $10 million in the weeks after a Jan. 24 private briefing to senators about coronavirus by Trump administration health officials.
The sales occurred before a sharp drop in the stock market indexes in recent weeks as the coronavirus pandemic wreaked havoc on the U.S. economy.
Intercontinental Exchange, which owns other exchanges and clearing houses, said in a statement that the nearly 30 transactions involving the couple were "in compliance" with company policies.


cnbc--2020-03-20--State Department confirms its first coronavirus case in Washington, DC

The US Department of State building is seen in Washington , DC , on July 22 , 2019 .
WASHINGTON — The State Department was notified on Wednesday of its first confirmed coronavirus case in Washington , D.C. , as the deadly outbreak spreads .
`` Staff who work in the impacted area were directed by supervisors , in coordination with the Bureau of Medical Services , to take the necessary precautions .
In addition , the Bureau of Medical Services is working closely with D.C. Public Health for coordination of contact tracing and care , '' a State Department @ @ @ @ @ @ @ that the space , which is located in one of several buildings that make up the State Department complex in the city 's Foggy Bottom neighborhood , was `` deliberately and professionally disinfected '' on Thursday and that the area would be ready for occupancy on Friday .
On Thursday , the State Department issued a level 4 warning to U.S. citizens to not travel internationally and to return immediately to the United States if abroad , or prepare to `` shelter in place . ''
The disease has infected more than 245,000 @ @ @ @ @ @ @ In the U.S. 14,250 cases have been reported so far .

The U.S. Department of State building is seen in Washington, D.C., on July 22, 2019.
WASHINGTON — The State Department was notified on Wednesday of its first confirmed coronavirus case in Washington, D.C., as the deadly outbreak spreads.
"Staff who work in the impacted area were directed by supervisors, in coordination with the Bureau of Medical Services, to take the necessary precautions. In addition, the Bureau of Medical Services is working closely with D.C. Public Health for coordination of contact tracing and care," a State Department spokesperson told CNBC.
The spokesperson added that the space, which is located in one of several buildings that make up the State Department complex in the city's Foggy Bottom neighborhood, was "deliberately and professionally disinfected" on Thursday and that the area would be ready for occupancy on Friday.
On Thursday, the State Department issued a level 4 warning to U.S. citizens to not travel internationally and to return immediately to the United States if abroad, or prepare to "shelter in place."
The disease has infected more than 245,000 worldwide, though many have recovered. In the U.S. 14,250 cases have been reported so far.


cnbc--2020-03-20--Democrats shift fundraising strategies amid coronavirus crisis in bid to beat Trump and GOP

2020 presidential candidates Senator Bernie Sanders , an Independent from Vermont , left , and former Vice President Joe Biden arrive on stage ahead of the Democratic presidential debate in Charleston , South Carolina , U.S. , on Tuesday , Feb. 25 , 2020 .
Democrats looking to defeat President Donald Trump and Republicans in November are shifting their fundraising strategies as the coronavirus impacts the 2020 election .
The virus has spread to all 50 states and the District of Columbia with over 13,000 cases nationwide and at least 176 deaths .
Bundlers helping to raise campaign cash for @ @ @ @ @ @ @ potential new donors to sign up for future in-person events as a way to get them to contribute now .
The campaign is also looking to hold virtual fundraisers , though one has already been postponed .
`` I think that , while it would be better to hold in-person gatherings to garner a certain excitement factor , those who want to give will do so with the promise of later events when possible to hold them , '' Alan Patricof , a Biden bundler and founder of investment firm , Greycroft , @ @ @ @ @ @ @ Rufus Gifford , for one , had planned to co-host an event this week in New York .
He decided to postpone to a future date rather than hosting a virtual fundraiser .
But he 's asking donors to pony up now .
`` We opted not to do a virtual version of my event , '' Gifford told CNBC recently .
`` I think I 'm going to try and do a larger-tiered gay event when things open back up , assuming that 's an option .
I just think it makes @ @ @ @ @ @ @ the spring . ''
Biden 's loyal fundraisers are also using Trump 's response to the coronavirus as a way to raise money .
Jon Henes , a partner at legal juggernaut Kirkland & Ellis , sent an email calling on donors to back Biden in the midst of the pandemic .
`` We are in unprecedented and distressing times as we face COVID-19 and the economic impact laying in its wake , '' Henes said in the memo , first reviewed by CNBC .
`` At a time when we need true @ @ @ @ @ @ @ little . ''
The email included a video from the website The Recount , which spliced together moments when Trump downplayed the significance of the virus .
Henes has been organizing a group of corporate restructuring attorneys to help raise money for Biden .
Though many of Biden 's bundlers do not foresee fundraising issues for the campaign , strategists said the former vice president and other Democrats could run into problems raising cash .
`` I think fundraising will dry up .
No one has enough sympathy for politicians to fund them @ @ @ @ @ @ @ families , '' Brad Tusk , a founder of political consulting firm , Tusk Strategies , and a close ally of Mike Bloomberg , told CNBC .
He also warned that Biden `` better be really nice to [ Mike ] Bloomberg , '' the billionaire who dropped out of the presidential primary earlier this month , in case he does run into fundraising trouble .
Bloomberg 's campaign on Friday said it would pile $ 18 million into the Democratic National Committee 's coffers .
Biden is still in a primary battle @ @ @ @ @ @ @ committed to shifting all of his town halls to a virtual platform as well .
Sanders has been focusing most of his small dollar fundraising efforts on forms of digital outreach since he started running for president last year .
Sanders is currently behind Biden in the delegate count after losing primaries this week in Florida , Illinois and Arizona .
Beyond the Democrats running for president , the Democratic National Committee has also taken steps to focus on virtual outreach for fundraising and get out the vote efforts .
The DNC is @ @ @ @ @ @ @ way to share best practices with state parties and other groups organizing supporters and volunteers .
Over 2,300 individuals have signed up so far , and more training sessions are being added every week , a DNC aide said , speaking on condition of anonymity .
The courses focus on resources and tools that are available from the DNC right now , including online community groups on Facebook and Mobilize America , an online events organizing tool .
The committee is planning virtual fundraising events that will take place in the coming weeks @ @ @ @ @ @ @ National Committee have suspended all of their in-person events and are focusing on digital fundraising , direct mail and staying connected with donors over the phone .
Virtual fundraising events are being scheduled .
Candidates in the GOP-controlled Senate are also shifting to digital strategies .
Democrats are trying to flip the Senate after losing seats during the 2018 congressional midterm elections .
The Democratic Senatorial Campaign Committee has canceled all events through April 24 and will make a scheduling decision for gatherings set for after the date , a committee aide told @ @ @ @ @ @ @ to South Carolina are going virtual , too .
Maine House Speaker Sara Gideon , who is running in the primary for the chance to face GOP Sen. Susan Collins in November , hosted a virtual town hall on Thursday after she postponed in-person events .
During the event , Gideon called for urgent federal action to support the medical response to COVID-19 by expanding the amount of tests available nationwide and moving to ensure that medical personnel have all the resources they need .
Jaime Harrison , who is running against Sen. @ @ @ @ @ @ @ a virtual town hall last Friday on Facebook .

2020 presidential candidates Senator Bernie Sanders, an Independent from Vermont, left, and former Vice President Joe Biden arrive on stage ahead of the Democratic presidential debate in Charleston, South Carolina, U.S., on Tuesday, Feb. 25, 2020.
Democrats looking to defeat President Donald Trump and Republicans in November are shifting their fundraising strategies as the coronavirus impacts the 2020 election.
The virus has spread to all 50 states and the District of Columbia with over 13,000 cases nationwide and at least 176 deaths.
Bundlers helping to raise campaign cash for former Vice President Joe Biden are encouraging potential new donors to sign up for future in-person events as a way to get them to contribute now. The campaign is also looking to hold virtual fundraisers, though one has already been postponed.
"I think that, while it would be better to hold in-person gatherings to garner a certain excitement factor, those who want to give will do so with the promise of later events when possible to hold them," Alan Patricof, a Biden bundler and founder of investment firm, Greycroft, told CNBC on Friday.
Former Ambassador Rufus Gifford, for one, had planned to co-host an event this week in New York. He decided to postpone to a future date rather than hosting a virtual fundraiser. But he's asking donors to pony up now.
"We opted not to do a virtual version of my event," Gifford told CNBC recently. "I think I'm going to try and do a larger-tiered gay event when things open back up, assuming that's an option. I just think it makes sense to do something larger sometime in the spring."
Biden's loyal fundraisers are also using Trump's response to the coronavirus as a way to raise money.
Jon Henes, a partner at legal juggernaut Kirkland & Ellis, sent an email calling on donors to back Biden in the midst of the pandemic. "We are in unprecedented and distressing times as we face COVID-19 and the economic impact laying in its wake," Henes said in the memo, first reviewed by CNBC. "At a time when we need true presidential leadership, we are getting very little."
The email included a video from the website The Recount, which spliced together moments when Trump downplayed the significance of the virus. Henes has been organizing a group of corporate restructuring attorneys to help raise money for Biden.
Though many of Biden's bundlers do not foresee fundraising issues for the campaign, strategists said the former vice president and other Democrats could run into problems raising cash.
"I think fundraising will dry up. No one has enough sympathy for politicians to fund them ahead of making payroll or supporting their families," Brad Tusk, a founder of political consulting firm, Tusk Strategies, and a close ally of Mike Bloomberg, told CNBC.
He also warned that Biden "better be really nice to [Mike] Bloomberg," the billionaire who dropped out of the presidential primary earlier this month, in case he does run into fundraising trouble.
Bloomberg's campaign on Friday said it would pile $18 million into the Democratic National Committee's coffers.
Biden is still in a primary battle with Sen. Bernie Sanders, who has committed to shifting all of his town halls to a virtual platform as well. Sanders has been focusing most of his small dollar fundraising efforts on forms of digital outreach since he started running for president last year. Sanders is currently behind Biden in the delegate count after losing primaries this week in Florida, Illinois and Arizona.
Beyond the Democrats running for president, the Democratic National Committee has also taken steps to focus on virtual outreach for fundraising and get out the vote efforts.
The DNC is hosting online digital training sessions as a way to share best practices with state parties and other groups organizing supporters and volunteers. Over 2,300 individuals have signed up so far, and more training sessions are being added every week, a DNC aide said, speaking on condition of anonymity.
The courses focus on resources and tools that are available from the DNC right now, including online community groups on Facebook and Mobilize America, an online events organizing tool. The committee is planning virtual fundraising events that will take place in the coming weeks.
The Trump campaign and the Republican National Committee have suspended all of their in-person events and are focusing on digital fundraising, direct mail and staying connected with donors over the phone. Virtual fundraising events are being scheduled.
Candidates in the GOP-controlled Senate are also shifting to digital strategies. Democrats are trying to flip the Senate after losing seats during the 2018 congressional midterm elections.
The Democratic Senatorial Campaign Committee has canceled all events through April 24 and will make a scheduling decision for gatherings set for after the date, a committee aide told CNBC.
Senate Democratic primaries from Maine to South Carolina are going virtual, too.
Maine House Speaker Sara Gideon, who is running in the primary for the chance to face GOP Sen. Susan Collins in November, hosted a virtual town hall on Thursday after she postponed in-person events.
During the event, Gideon called for urgent federal action to support the medical response to COVID-19 by expanding the amount of tests available nationwide and moving to ensure that medical personnel have all the resources they need.
Jaime Harrison, who is running against Sen. Lindsey Graham in South Carolina, held a virtual town hall last Friday on Facebook.


cnbc--2020-03-20--US and Mexico restrict non-essential travel across border, White House says amid coronavirus crisis

The U.S. and Mexico have agreed to restrict all non-essential travel across their border , the Trump administration announced Friday .
Members of the White House coronavirus task force also said that people who enter the country from Mexico and Canada without proper documentation will be immediately turned away from the United States ' borders .
The announcement came two days after President Donald Trump and Canadian Prime Minister Justin Trudeau said that the U.S.-Canada border would be closed to non-essential traffic due to the coronavirus pandemic .
Neither of those travel restrictions will apply to trade , or workers @ @ @ @ @ @ @ agreements will go into effect Saturday .
The decision to suspend entry into the U.S. for people seeking to cross the border `` illegally '' was made `` because of the public health threat that their entry into the United States represents , '' Health and Human Services Secretary Alex Azar said .
The Trump administration has previously taken aggressive steps to stem the flow of migrants entering the U.S. illegally .
`` Today 's announcement is just the latest in a long line of bold , decisive actions the president has taken @ @ @ @ @ @ @ across our borders , '' Azar said .
The White House briefing came as U.S. officials at every level of government took unprecedented steps to try to slow the spread of the virus and soften its devastating economic impact .
Treasury Secretary Steven Mnuchin announced earlier Friday that the IRS will delay the national income tax filing deadline by three months , pushing it back to July 15 .
That measure was included as part of the Senate 's coronavirus economic stimulus bill , which is expected to cost at least $ 1 @ @ @ @ @ @ @ Capitol Hill .
At the state level , Democratic Gov .
Gavin Newsom of California issued a sweeping order for all residents to stay at home and closing dine-in restaurants , bars and clubs , gyms and fitness studios .
New York Gov .
Andrew Cuomo followed suit Friday morning , ordering all non-essential businesses to keep 100 % of their workforce at home .
The COVID-19 virus , believed to have originated in the Chinese city of Wuhan , has infected more than 245,000 people around the world , killing more than @ @ @ @ @ @ @ shows .
In the U.S. , at least 14,250 people have contracted the virus and more than 200 have died , according to Johns Hopkins .

Neither of those travel restrictions will apply to trade, or workers involved in so-called essential work. Both agreements will go into effect Saturday.
Members of the White House coronavirus task force also said that people who enter the country from Mexico and Canada without proper documentation will be immediately turned away from the United States' borders.
The U.S. and Mexico have agreed to restrict all non-essential travel across their border, the Trump administration announced Friday.
Aerial view of San Ysidro port of entry on the Mexico-US border as seen from Tijuana, Baja California state, Mexico, on March 21, 2020.
The decision to suspend entry into the U.S. for people seeking to cross the border "illegally" was made "because of the public health threat that their entry into the United States represents," Health and Human Services Secretary Alex Azar said.
The Trump administration has previously taken aggressive steps to stem the flow of migrants entering the U.S. illegally.
"Today's announcement is just the latest in a long line of bold, decisive actions the president has taken to protect Americans from the coronavirus spreading across our borders," Azar said.
The White House briefing came as U.S. officials at every level of government took unprecedented steps to try to slow the spread of the virus and soften its devastating economic impact.
Treasury Secretary Steven Mnuchin announced earlier Friday that the IRS will delay the national income tax filing deadline by three months, pushing it back to July 15. That measure was included as part of the Senate's coronavirus economic stimulus bill, which is expected to cost at least $1 trillion and is currently being negotiated on Capitol Hill.
At the state level, Democratic Gov. Gavin Newsom of California issued a sweeping order for all residents to stay at home and closing dine-in restaurants, bars and clubs, gyms and fitness studios.
New York Gov. Andrew Cuomo followed suit Friday morning, ordering all non-essential businesses to keep 100% of their workforce at home.
The COVID-19 virus, believed to have originated in the Chinese city of Wuhan, has infected more than 245,000 people around the world, killing more than 10,000, data from Johns Hopkins University shows. In the U.S., at least 14,250 people have contracted the virus and more than 200 have died, according to Johns Hopkins.


cnbc--2020-03-20--Mike Bloomberg will transfer $18 million to the Democratic Party as it gears up to face Trump

Former Democratic presidential candidate Mike Bloomberg addresses his staff and the media after announcing that he will be ending his campaign on March 04 , 2020 in New York City .
Former New York Mayor Mike Bloomberg will scrap his plans for an independent group to boost Democrats in the 2020 presidential election and instead pile $ 18 million into the Democratic National Committee , his campaign announced Friday .
As part of the move , the one-time presidential hopeful will lay off campaign staff , who will get paid through the first week in April and get medical benefits @ @ @ @ @ @ @ according to NBC News .
Bloomberg 's presidential campaign said the DNC will use the investment to boost hiring , organizing and data operations in battleground states .
In addition , it will transfer `` several '' field offices to state parties .
`` While we considered creating our own independent entity to support the nominee and hold the President accountable , this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution , '' the campaign wrote in a @ @ @ @ @ @ @ The massive transfer ensures Bloomberg , who dropped out of the 2020 Democratic primary earlier this month to endorse former Vice President Joe Biden , will have sway in the general election .
The billionaire , who spent more than $ 500 million on his doomed presidential bid , has pledged to support the eventual nominee 's efforts to deny President Donald Trump a second term .
The Bloomberg campaign called the $ 18 million transfer of unused campaign funds `` the largest transfer from a presidential campaign in recent history . ''
@ @ @ @ @ @ @ lead over Sen. Bernie Sanders , he has trailed his rival at every stage of the primary in the fundraising race .
As a wide Democratic field split donors , the Trump campaign and Republican National Committee enjoyed fundraising success in the early stages of the race .
Fears about the coronavirus pandemic spreading have forced multiple states to delay their planned presidential primaries , making it unclear when a Democrat will wrap up the nomination .
The outbreak has created fundraising difficulties for both the Biden campaign and Republicans .

Former Democratic presidential candidate Mike Bloomberg addresses his staff and the media after announcing that he will be ending his campaign on March 04, 2020 in New York City.
Former New York Mayor Mike Bloomberg will scrap his plans for an independent group to boost Democrats in the 2020 presidential election and instead pile $18 million into the Democratic National Committee, his campaign announced Friday.
As part of the move, the one-time presidential hopeful will lay off campaign staff, who will get paid through the first week in April and get medical benefits through the end of that month, according to NBC News.
Bloomberg's presidential campaign said the DNC will use the investment to boost hiring, organizing and data operations in battleground states. In addition, it will transfer "several" field offices to state parties.
"While we considered creating our own independent entity to support the nominee and hold the President accountable, this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution," the campaign wrote in a memo to DNC Chairman Tom Perez.
The massive transfer ensures Bloomberg, who dropped out of the 2020 Democratic primary earlier this month to endorse former Vice President Joe Biden, will have sway in the general election. The billionaire, who spent more than $500 million on his doomed presidential bid, has pledged to support the eventual nominee's efforts to deny President Donald Trump a second term.
The Bloomberg campaign called the $18 million transfer of unused campaign funds "the largest transfer from a presidential campaign in recent history."
While Biden has expanded his pledged delegate lead over Sen. Bernie Sanders, he has trailed his rival at every stage of the primary in the fundraising race. As a wide Democratic field split donors, the Trump campaign and Republican National Committee enjoyed fundraising success in the early stages of the race.
Fears about the coronavirus pandemic spreading have forced multiple states to delay their planned presidential primaries, making it unclear when a Democrat will wrap up the nomination. The outbreak has created fundraising difficulties for both the Biden campaign and Republicans.
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cnbc--2020-03-20--Indiana is the latest state to postpone its 2020 primary as coronavirus spreads

Indiana will move its 2020 primary to June 2 from the originally planned May 2 in response to the deadly coronavirus outbreak , Gov .
Eric Holcomb announced on Friday .
`` Today I 've taken action to reschedule the election that would have been on May 5 to June 2 , '' Holcomb said in a briefing Friday .
`` My view on that fast-approaching primary election is it needed to be pushed back in order to again ensure the safety of our county employees , the poll workers , and the voters themselves . ''
Indiana , with @ @ @ @ @ @ @ become the latest state to postpone its primary because of looming threats brought on by the coronavirus , which has roiled markets and infected hundreds of thousands of people globally .
The outbreak has upended the 2020 Democratic presidential primary as former Vice President Joe Biden and Sen. Bernie Sanders push to take on President Donald Trump in November .
Sanders won Indiana in the 2016 primary , beating then rival , former Secretary of State Hillary Clinton .
The current candidates have stopped holding in-person campaign events .
Sanders , who has @ @ @ @ @ @ @ pledged delegates , is now mulling his prospects as he considers whether to leave the race or forge ahead .
Several states have already changed their election schedules as the coronavirus pandemic rages across the United States and paralyzes normal activity .
Louisiana and Georgia delayed their planned primaries .
Wyoming also canceled the in-person portion of its Democratic caucus .
Ohio delayed its in-person primary voting that was supposed to take place Tuesday .
Gov .
Mike DeWine was blocked by the courts from postponing the primary , but the state 's @ @ @ @ @ @ @ to close the polls due to health concerns brought on by the outbreak .
Arizona , Florida and Illinois moved forward with Tuesday voting but took extra precautions , emphasizing mail-in ballots and increasing sanitation at polling places .
Rhode Island could be next .
It is awaiting a decision on whether its primary will be postponed .
The Rhode Island Board of Elections voted to postpone the state 's primary from April 28 to June 2 , but the decision is `` pending the governor signing an emergency order , '' according @ @ @ @ @ @ @ elections , Miguel Nunez .
Here are the states that have postponed their primaries and their new dates : • Ohio ( rescheduled to June 2 , pending approval from the courts ) The Democratic National Committee has so far said it will move forward with its convention in July despite the disruptions .
The coronavirus , which is believed to have originated in Wuhan , China , has spread to dozens of countries globally , with more than 245,000 confirmed cases worldwide and at least 10,031 deaths so far , according to @ @ @ @ @ @ @ are at least 14,250 cases in the United States and at least 205 deaths , according to the latest tallies .

Indiana will move its 2020 primary to June 2 from the originally planned May 2 in response to the deadly coronavirus outbreak, Gov. Eric Holcomb announced on Friday.
"Today I've taken action to reschedule the election that would have been on May 5 to June 2," Holcomb said in a briefing Friday.
"My view on that fast-approaching primary election is it needed to be pushed back in order to again ensure the safety of our county employees, the poll workers, and the voters themselves."
Indiana, with 82 delegates up for grabs, has become the latest state to postpone its primary because of looming threats brought on by the coronavirus, which has roiled markets and infected hundreds of thousands of people globally.
The outbreak has upended the 2020 Democratic presidential primary as former Vice President Joe Biden and Sen. Bernie Sanders push to take on President Donald Trump in November. Sanders won Indiana in the 2016 primary, beating then rival, former Secretary of State Hillary Clinton.
The current candidates have stopped holding in-person campaign events. Sanders, who has fallen behind Biden in the race for pledged delegates, is now mulling his prospects as he considers whether to leave the race or forge ahead.
Several states have already changed their election schedules as the coronavirus pandemic rages across the United States and paralyzes normal activity. Louisiana and Georgia delayed their planned primaries. Wyoming also canceled the in-person portion of its Democratic caucus.
Ohio delayed its in-person primary voting that was supposed to take place Tuesday. Gov. Mike DeWine was blocked by the courts from postponing the primary, but the state's health department intervened, issuing an order to close the polls due to health concerns brought on by the outbreak.
Arizona, Florida and Illinois moved forward with Tuesday voting but took extra precautions, emphasizing mail-in ballots and increasing sanitation at polling places.
Rhode Island could be next. It is awaiting a decision on whether its primary will be postponed. The Rhode Island Board of Elections voted to postpone the state's primary from April 28 to June 2, but the decision is "pending the governor signing an emergency order," according to the board's deputy director of elections, Miguel Nunez.
Here are the states that have postponed their primaries and their new dates:
Georgia (rescheduled to May 19)
Connecticut (rescheduled to June 2)
Indiana (rescheduled to June 2)
Ohio (rescheduled to June 2, pending approval from the courts)
Louisiana (rescheduled to June 20)
Kentucky (rescheduled to June 23)
The Democratic National Committee has so far said it will move forward with its convention in July despite the disruptions.
The coronavirus, which is believed to have originated in Wuhan, China, has spread to dozens of countries globally, with more than 245,000 confirmed cases worldwide and at least 10,031 deaths so far, according to data from Johns Hopkins University. There are at least 14,250 cases in the United States and at least 205 deaths, according to the latest tallies.


cnbc--2020-03-20--Joe Biden urges 'every CEO in America' to commit to no stock buybacks for a year

Former Vice President Joe Biden ( D ) speaks about the Coronavirus and the response to it at the Hotel Du Pont in Wilmington , DE .
Former Vice President Joe Biden on Friday urged `` every CEO in America '' to commit to a year of no stock buybacks as the coronavirus pandemic wrecks the U.S. economy .
As Congress and the White House hash out an economic relief plan expected to easily top $ 1 trillion , Democrats have pushed for a proposal to specify that companies receiving aid must stop share repurchases .
The suggestion by the @ @ @ @ @ @ @ further — to all public companies .
`` As workers face the physical and economic consequences of the coronavirus , our corporate leaders can not cede responsibility for their employees , '' Biden said in a tweeted statement .
Workers and businesses have already taken massive blows as efforts to slow the spread of the virus have frozen activity across the country .
With layoffs already hitting restaurants , bars and hotels , and with industries such as airlines worried about solvency , lawmakers are trying to swiftly throw together a massive package @ @ @ @ @ @ @ Donald Trump said Thursday that barring companies that receive bailout money from buying back stock `` would be okay with me . ''
Companies buy back their stock from either the open market or shareholders .
Through the purchases , businesses can return money to shareholders and potentially raise their stock prices .
Such buybacks use money that businesses could use instead for other purposes : capital expenditures , paying down debt or investing in workers .
Some Democratic lawmakers have criticized a wave of stock buybacks announced after the 2017 Republican tax @ @ @ @ @ @ @ as a condition of federal government relief will help to make the corporate response to the pandemic more worker-friendly .
Heading into talks about the latest response package Friday , Senate Minority Leader Chuck Schumer said he would not back a bailout without forbidding share repurchases .
`` We are not going to go for any bailouts unless they are worker-friendly .
The money goes to workers , employees , and no stock buybacks , '' said the New York Democrat .
Biden , who has expanded his pledged delegate lead over Sen. @ @ @ @ @ @ @ repeatedly criticized Trump 's response to the coronavirus outbreak .
He released his own plan to combat the pandemic earlier this month .
The U.S. now has more than 14,000 cases of the coronavirus disease COVID-19 , and it has killed at least 205 people , according to data compiled by Johns Hopkins University .

Former Vice President Joe Biden (D) speaks about the Coronavirus and the response to it at the Hotel Du Pont in Wilmington, DE.
Former Vice President Joe Biden on Friday urged "every CEO in America" to commit to a year of no stock buybacks as the coronavirus pandemic wrecks the U.S. economy.
As Congress and the White House hash out an economic relief plan expected to easily top $1 trillion, Democrats have pushed for a proposal to specify that companies receiving aid must stop share repurchases. The suggestion by the Democratic presidential front-runner appears to go even further — to all public companies.
"As workers face the physical and economic consequences of the coronavirus, our corporate leaders cannot cede responsibility for their employees," Biden said in a tweeted statement.
Joe Biden tweet
Workers and businesses have already taken massive blows as efforts to slow the spread of the virus have frozen activity across the country. With layoffs already hitting restaurants, bars and hotels, and with industries such as airlines worried about solvency, lawmakers are trying to swiftly throw together a massive package to blunt the economic damage.
President Donald Trump said Thursday that barring companies that receive bailout money from buying back stock "would be okay with me."
Companies buy back their stock from either the open market or shareholders. Through the purchases, businesses can return money to shareholders and potentially raise their stock prices.
Such buybacks use money that businesses could use instead for other purposes: capital expenditures, paying down debt or investing in workers. Some Democratic lawmakers have criticized a wave of stock buybacks announced after the 2017 Republican tax cuts.
They now argue banning buybacks as a condition of federal government relief will help to make the corporate response to the pandemic more worker-friendly. Heading into talks about the latest response package Friday, Senate Minority Leader Chuck Schumer said he would not back a bailout without forbidding share repurchases.
"We are not going to go for any bailouts unless they are worker-friendly. The money goes to workers, employees, and no stock buybacks," said the New York Democrat.
Biden, who has expanded his pledged delegate lead over Sen. Bernie Sanders in recent primaries, has repeatedly criticized Trump's response to the coronavirus outbreak. He released his own plan to combat the pandemic earlier this month.
The U.S. now has more than 14,000 cases of the coronavirus disease COVID-19, and it has killed at least 205 people, according to data compiled by Johns Hopkins University.
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cnbc--2020-03-20--IRS extends tax filing deadline to July 15 as coronavirus spreads, Mnuchin says

The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic , Treasury Secretary Steven Mnuchin announced Friday .
The move gives Americans three months more than they normally would have to file their income tax returns for the 2019 tax year , without incurring interest or penalties .
President Donald Trump later Friday said that `` hopefully '' by the time the new deadline arrives `` people will be getting back to their lives . ''
`` At @ realDonaldTrump 's direction @ @ @ @ @ @ @ April 15 to July 15 , '' Mnuchin wrote in a tweet about the extension .
`` All taxpayers and businesses will have this additional time to file and make payments without interest or penalties , '' he wrote .
In a second tweet , Mnuchin urged taxpayers who might receive refunds this season `` to file now to get your money . ''
Most Americans are entitled to refunds when they file their federal tax returns .
As of March 13 , the Internal Revenue Service had issued 59.2 million refunds out @ @ @ @ @ @ @ tax returns it had received , or 77.7 % of the total number of returns filed by that date .
The average refund check was $ 2,973 , according to IRS data .
Many individual states already had extended their own tax filing deadlines to various dates to give people relief from the financial fallout of the coronavirus outbreak , which has shuttered businesses nationwide and led to large-scale layoffs .
The IRS move will increase pressure on states to align their deadlines with the new one for federal income tax returns .
@ @ @ @ @ @ @ asked at a press conference if state residents should pay their state income taxes by the New York deadline of April 15 , said the new federal guideline should be followed .
The IRS did not immediately return a call for comment from CNBC .
It is not clear if the deadline extension also will include the deadline for funding Individual Retirement Accounts for the 2019 tax year .

The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic, Treasury Secretary Steven Mnuchin announced Friday.
The move gives Americans three months more than they normally would have to file their income tax returns for the 2019 tax year, without incurring interest or penalties.
President Donald Trump later Friday said that "hopefully" by the time the new deadline arrives "people will be getting back to their lives."
"At @realDonaldTrump's direction, we are moving Tax Day from April 15 to July 15," Mnuchin wrote in a tweet about the extension.
"All taxpayers and businesses will have this additional time to file and make payments without interest or penalties," he wrote.
Tweet
In a second tweet, Mnuchin urged taxpayers who might receive refunds this season "to file now to get your money."
Tweet
Trump echoed that suggestion during a White House press conference.
Tax payments that were due on April 15 now will be due July 15, regardless of the amount, according to guidance issued by Treasury and the IRS late Friday.
Earlier, the agencies only allowed individual taxpayers to defer up to $1 million in taxes (and up to $10 million for corporations) until July 15.
Most Americans are entitled to refunds when they file their federal tax returns.
As of March 13, the Internal Revenue Service had issued 59.2 million refunds out of the 76.2 million million individual income tax returns it had received, or 77.7% of the total number of returns filed by that date.
The average refund check was $2,973, according to IRS data.
Many individual states already had extended their own tax filing deadlines to various dates to give people relief from the financial fallout of the coronavirus outbreak, which has shuttered businesses nationwide and led to large-scale layoffs.
The IRS move will increase pressure on states to align their deadlines with the new one for federal income tax returns.
New York Gov. Andrew Cuomo, asked at a press conference if state residents should pay their state income taxes by the New York deadline of April 15, said the new federal guideline should be followed.
The IRS did not immediately return a call for comment from CNBC. It is not clear if the deadline extension also will include the deadline for funding Individual Retirement Accounts for the 2019 tax year.


cnbc--2020-03-20--California's stay-home order not necessarily a 'one-size-fits-all' policy for other states, Pence ai

California's stay-home order not necessarily a 'one-size-fits-all' policy for other states, Pence aide says

California Street , usually filled with iconic cable cars , is seen mostly empty in San Francisco , California on March 17 , 2020 .
A top aide to Vice President Mike Pence , who leads the White House 's response to the coronavirus pandemic , said Friday that California 's sweeping order for residents to stay at home should not necessarily be copied by other states .
Marc Short , Pence 's chief of staff , was asked on CNBC 's `` Squawk Box '' whether California 's decision , issued Thursday evening by Democratic Gov .
Gavin Newsom @ @ @ @ @ @ @ other states .
Short said that since three states — California , Washington and New York — comprise more than half of all confirmed coronavirus cases in the U.S. , Newsom 's order may not become `` a one-size-fits-all policy . ''
`` It 's important to keep in mind that we have a federalist system '' that allows `` local communities to do what they think is best for their communities , and us to provide them the resources they need to make the best informed decisions , '' Short said .
@ @ @ @ @ @ @ of caution in some of the policy decisions that have been made to protect more Americans , but as we see better information , which we 're getting now in the testing and the rapidity of the spread , it 's going to inform whether or not the one-size-fits-all really makes sense , '' he said .
Newsom 's decision , which will stay in place until further notice , marks one of the most extreme attempts yet to `` flatten the curve '' of projected transmission of the COVID-19 virus across the @ @ @ @ @ @ @ clubs , gyms and fitness studios will be closed , according to the order .
Public events and gatherings are also not allowed .
Essential services will stay open , however , such as pharmacies , grocery stores , takeout and delivery restaurants , and banks .
With nearly 40 million residents , California is the most populous state in the country .
Short also noted that more than half of coronavirus infections in America are concentrated within 10 counties out of more than 3,000 in the U.S. Short also suggested that President @ @ @ @ @ @ @ consider locking down those few counties that have been hit hardest by the disease .
The White House 's guidelines for preventing coronavirus transmission `` are intended so it stays and does n't spread beyond where it currently is , '' Short said .
`` I do n't foresee a federal mandate on that , no . ''

California Street, usually filled with iconic cable cars, is seen mostly empty in San Francisco, California on March 17, 2020.
A top aide to Vice President Mike Pence, who leads the White House's response to the coronavirus pandemic, said Friday that California's sweeping order for residents to stay at home should not necessarily be copied by other states.
Marc Short, Pence's chief of staff, was asked on CNBC's "Squawk Box" whether California's decision, issued Thursday evening by Democratic Gov. Gavin Newsom, will soon be copied by most other states.
Short said that since three states — California, Washington and New York — comprise more than half of all confirmed coronavirus cases in the U.S., Newsom's order may not become "a one-size-fits-all policy."
"It's important to keep in mind that we have a federalist system" that allows "local communities to do what they think is best for their communities, and us to provide them the resources they need to make the best informed decisions," Short said.
"I think there's an abundance of caution in some of the policy decisions that have been made to protect more Americans, but as we see better information, which we're getting now in the testing and the rapidity of the spread, it's going to inform whether or not the one-size-fits-all really makes sense," he said.
Newsom's decision, which will stay in place until further notice, marks one of the most extreme attempts yet to "flatten the curve" of projected transmission of the COVID-19 virus across the U.S.
All dine-in restaurants, bars and clubs, gyms and fitness studios will be closed, according to the order. Public events and gatherings are also not allowed. Essential services will stay open, however, such as pharmacies, grocery stores, takeout and delivery restaurants, and banks.
With nearly 40 million residents, California is the most populous state in the country.
Short also noted that more than half of coronavirus infections in America are concentrated within 10 counties out of more than 3,000 in the U.S.
Short also suggested that President Donald Trump's administration will probably not consider locking down those few counties that have been hit hardest by the disease.
The White House's guidelines for preventing coronavirus transmission "are intended so it stays and doesn't spread beyond where it currently is," Short said. "I don't foresee a federal mandate on that, no."


cnbc--2020-03-20--Two GOP senators face questions over stock sales ahead of the market's coronavirus slide

Sen. Richard Burr , R-N.C. , talks with reporters in the Capitol after the impeachment trial of President Donald Trump adjourned for the day on Monday , February 3 , 2020 .
WASHINGTON — Senate Intelligence Committee Chairman Richard Burr , R-N.C. , is facing questions about his decision to sell between $ 630,000 and $ 1.7 million worth of stock one week before global financial markets began a historic slide in response to the coronavirus pandemic .
A second Republican senator , Georgia 's Kelly Loeffler , also sold large amounts of stock in late January and early February @ @ @ @ @ @ @ highs .
Both Burr and Loeffler have received non-public information about the global spread of coronavirus from Executive Branch officials , who have been briefing senators regularly since at least January .
In a statement Friday , Burr said his decision to off-load his stock was based `` solely on public news reports , '' including those from CNBC .
`` Understanding the assumption many could make in hindsight however , I spoke this morning with the chairman of the Senate Ethics Committee and asked him to open a complete review of the @ @ @ @ @ @ @ said .
Members of Congress are prohibited by law from using non-public information they obtain through their official positions in order to personally profit off the stock market .
There is no evidence that either Burr or Loeffler received specific , material , non-public information and then used it to trade specific stocks , which would qualify as insider trading .
On Feb. 13 , one week before U.S. stocks began sliding , Burr sold more than half a million dollars worth of shares in a single day .
The sales amounted to @ @ @ @ @ @ @ Burr confirmed the sales to ProPublica , but did not directly address whether Burr 's decision to sell was informed by non-public information he received as a senator .
CNBC asked her this question directly on Thursday , but she has yet to respond .

Sen. Richard Burr, R-N.C., talks with reporters in the Capitol after the impeachment trial of President Donald Trump adjourned for the day on Monday, February 3, 2020.
WASHINGTON — Senate Intelligence Committee Chairman Richard Burr, R-N.C., is facing questions about his decision to sell between $630,000 and $1.7 million worth of stock one week before global financial markets began a historic slide in response to the coronavirus pandemic.
A second Republican senator, Georgia's Kelly Loeffler, also sold large amounts of stock in late January and early February, when U.S. markets were hitting all-time highs.
Both Burr and Loeffler have received non-public information about the global spread of coronavirus from Executive Branch officials, who have been briefing senators regularly since at least January.
In a statement Friday, Burr said his decision to off-load his stock was based "solely on public news reports," including those from CNBC.
"Understanding the assumption many could make in hindsight however, I spoke this morning with the chairman of the Senate Ethics Committee and asked him to open a complete review of the matter with full transparency," Burr said.
Burr TWEET
Members of Congress are prohibited by law from using non-public information they obtain through their official positions in order to personally profit off the stock market.
There is no evidence that either Burr or Loeffler received specific, material, non-public information and then used it to trade specific stocks, which would qualify as insider trading.
On Feb. 13, one week before U.S. stocks began sliding, Burr sold more than half a million dollars worth of shares in a single day. The sales amounted to 33 individual transactions.
A spokeswoman for Burr confirmed the sales to ProPublica, but did not directly address whether Burr's decision to sell was informed by non-public information he received as a senator. CNBC asked her this question directly on Thursday, but she has yet to respond.


cnbc--2020-03-20--Trump campaign, RNC suspend in-person fundraising events as coronavirus spreads

President Donald Trump 's campaign and the Republican National Committee are suspending in-person fundraising events and will raise money through a digital platform as the coronavirus pandemic continues to impact the 2020 election .
Trump 's campaign and the RNC have signaled to their allies that in-person events will no longer take place as the coronavirus has now spread to all 50 states and Washington , D.C. , according to people with direct knowledge of the matter , who declined to be named because these decisions were made in private .
The Trump campaign confirmed the development .
`` President @ @ @ @ @ @ @ fundraising operation in presidential history and our unmatched data and digital operation make us uniquely equipped to sustain a digital fundraising operation .
As it is , we are in an incredibly strong position , '' said Tim Murtaugh , a spokesman for the Trump campaign .
`` While we are temporarily suspending in-person fundraising events , we will still be able to gather support from Americans who fully support President Trump , his accomplishments , and his leadership . ''
Murtaugh confirmed organization plans to hold virtual fundraising events instead .
The @ @ @ @ @ @ @ president 's likely rival , former Vice President Joe Biden , who has been trying to host virtual town halls and fundraisers himself , although some have had technical difficulties and others have been postponed .
Mandi Merritt , a spokeswoman for the RNC , said the committee will also be turning to direct mail as a way to stay connected with donors .
`` We have a variety of tools that allow us to continue to succeed even without holding in person events .
We have invested in robust digital and direct @ @ @ @ @ @ @ with voters and talk to our supporters about the issues they care most about , '' she said .
`` Those tools will continue to produce strong responses . ''
She also noted that the RNC has `` incredible reserves '' when it comes to financial resources , and that `` even during this month dominated by self-quarantines and social distancing we expect to post very strong numbers . ''
The campaign had previously said they were going to use their digital tools to connect with voters but that announcement did not include @ @ @ @ @ @ @ .
`` Efforts will include holding virtual events with top surrogates , utilizing online platforms to train thousands of members of the Trump Neighborhood Team , activating the massive volunteer network to make calls to rally support for the President in states voting soon , and increasing online voter registration efforts of Trump rally attendees identified as not currently registered to vote , '' the campaign and the RNC said on March 13 .
The move could have an impact on Trump 's fundraising success , although they do have a strong digital @ @ @ @ @ @ @ 's big money events , often arranged by the joint fundraising committee , Trump Victory , usually ask for high six figure contributions for donors to gain access .
The committee helps raise cash both for the RNC and Trump campaign .
Just last week , Trump took part in a Trump Victory fundraiser at the home of Florida businessman Bob Dello Russo .
To gain access to the roundtable discussion and get a photo taken with the president , the committee asked for a donation of $ 100,000 per couple .
The @ @ @ @ @ @ @ dollars .
Trump , the RNC and their joint fundraising committees combined to raise over $ 86 million in the month of February and have over $ 225 million on hand .
That same weekend , the president spoke to donors at his resort at Mar-a-Lago during an RNC retreat and the administration coronavirus response was brought up .
He reassured the financiers that the administration had everything under control .
A separate Trump Victory event took place at Mar-a-Lago that same weekend and the committee later told attendees that someone who took @ @ @ @ @ @ @ and RNC Chairwoman Ronna McDaniel have both said they were tested but were negative for the coronavirus .

President Donald Trump's campaign and the Republican National Committee are suspending in-person fundraising events and will raise money through a digital platform as the coronavirus pandemic continues to impact the 2020 election.
Trump's campaign and the RNC have signaled to their allies that in-person events will no longer take place as the coronavirus has now spread to all 50 states and Washington, D.C., according to people with direct knowledge of the matter, who declined to be named because these decisions were made in private.
The Trump campaign confirmed the development.
"President Trump and the RNC have the strongest fundraising operation in presidential history and our unmatched data and digital operation make us uniquely equipped to sustain a digital fundraising operation. As it is, we are in an incredibly strong position," said Tim Murtaugh, a spokesman for the Trump campaign. "While we are temporarily suspending in-person fundraising events, we will still be able to gather support from Americans who fully support President Trump, his accomplishments, and his leadership."
Murtaugh confirmed organization plans to hold virtual fundraising events instead. The decision follows a similar one from the president's likely rival, former Vice President Joe Biden, who has been trying to host virtual town halls and fundraisers himself, although some have had technical difficulties and others have been postponed.
Mandi Merritt, a spokeswoman for the RNC, said the committee will also be turning to direct mail as a way to stay connected with donors.
"We have a variety of tools that allow us to continue to succeed even without holding in person events. We have invested in robust digital and direct mail platforms that allow us to engage with voters and talk to our supporters about the issues they care most about," she said. "Those tools will continue to produce strong responses."
She also noted that the RNC has "incredible reserves" when it comes to financial resources, and that "even during this month dominated by self-quarantines and social distancing we expect to post very strong numbers."
The campaign had previously said they were going to use their digital tools to connect with voters but that announcement did not include how they were going to handle fundraising.
"Efforts will include holding virtual events with top surrogates, utilizing online platforms to train thousands of members of the Trump Neighborhood Team, activating the massive volunteer network to make calls to rally support for the President in states voting soon, and increasing online voter registration efforts of Trump rally attendees identified as not currently registered to vote," the campaign and the RNC said on March 13.
The move could have an impact on Trump's fundraising success, although they do have a strong digital fundraising operation already in place. Trump's big money events, often arranged by the joint fundraising committee, Trump Victory, usually ask for high six figure contributions for donors to gain access. The committee helps raise cash both for the RNC and Trump campaign.
Just last week, Trump took part in a Trump Victory fundraiser at the home of Florida businessman Bob Dello Russo. To gain access to the roundtable discussion and get a photo taken with the president, the committee asked for a donation of $100,000 per couple. The event was expected to raise millions of dollars.
Trump, the RNC and their joint fundraising committees combined to raise over $86 million in the month of February and have over $225 million on hand.
That same weekend, the president spoke to donors at his resort at Mar-a-Lago during an RNC retreat and the administration coronavirus response was brought up. He reassured the financiers that the administration had everything under control. A separate Trump Victory event took place at Mar-a-Lago that same weekend and the committee later told attendees that someone who took part tested positive for COVID-19.
Trump and RNC Chairwoman Ronna McDaniel have both said they were tested but were negative for the coronavirus.


cnbc--2020-03-21--US and Mexico restrict non-essential travel across border, White House says amid coronavirus crisis

Neither of those travel restrictions will apply to trade , or workers involved in so-called essential work .
Both agreements will go into effect Saturday .
The announcement came two days after President Donald Trump and Canadian Prime Minister Justin Trudeau said that the U.S.-Canada border would be closed to non-essential traffic due to the coronavirus pandemic .
Members of the White House coronavirus task force also said that people who enter the country from Mexico and Canada without proper documentation will be immediately turned away from the United States ' borders .
The U.S. and Mexico have agreed to @ @ @ @ @ @ @ , the Trump administration announced Friday .
Aerial view of San Ysidro port of entry on the Mexico-US border as seen from Tijuana , Baja California state , Mexico , on March 21 , 2020 .
The decision to suspend entry into the U.S. for people seeking to cross the border `` illegally '' was made `` because of the public health threat that their entry into the United States represents , '' Health and Human Services Secretary Alex Azar said .
The Trump administration has previously taken aggressive steps to stem the @ @ @ @ @ @ @ .
`` Today 's announcement is just the latest in a long line of bold , decisive actions the president has taken to protect Americans from the coronavirus spreading across our borders , '' Azar said .
The White House briefing came as U.S. officials at every level of government took unprecedented steps to try to slow the spread of the virus and soften its devastating economic impact .
Treasury Secretary Steven Mnuchin announced earlier Friday that the IRS will delay the national income tax filing deadline by three months , pushing it @ @ @ @ @ @ @ was included as part of the Senate 's coronavirus economic stimulus bill , which is expected to cost at least $ 1 trillion and is currently being negotiated on Capitol Hill .
At the state level , Democratic Gov .
Gavin Newsom of California issued a sweeping order for all residents to stay at home and closing dine-in restaurants , bars and clubs , gyms and fitness studios .
New York Gov .
Andrew Cuomo followed suit Friday morning , ordering all non-essential businesses to keep 100 % of their workforce at home @ @ @ @ @ @ @ have originated in the Chinese city of Wuhan , has infected more than 245,000 people around the world , killing more than 10,000 , data from Johns Hopkins University shows .
In the U.S. , at least 14,250 people have contracted the virus and more than 200 have died , according to Johns Hopkins .


cnbc--2020-03-21--IRS extends tax filing deadline to July 15 as coronavirus spreads, Mnuchin says

The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic , Treasury Secretary Steven Mnuchin announced Friday .
The move gives Americans three months more than they normally would have to file their income tax returns for the 2019 tax year , without incurring interest or penalties .
President Donald Trump later Friday said that `` hopefully '' by the time the new deadline arrives `` people will be getting back to their lives . ''
`` At @ realDonaldTrump 's direction @ @ @ @ @ @ @ April 15 to July 15 , '' Mnuchin wrote in a tweet about the extension .
`` All taxpayers and businesses will have this additional time to file and make payments without interest or penalties , '' he wrote .
In a second tweet , Mnuchin urged taxpayers who might receive refunds this season `` to file now to get your money . ''
Tax payments that were due on April 15 now will be due July 15 , regardless of the amount , according to guidance issued by Treasury and the IRS @ @ @ @ @ @ @ only allowed individual taxpayers to defer up to $ 1 million in taxes ( and up to $ 10 million for corporations ) until July 15 .
Most Americans are entitled to refunds when they file their federal tax returns .
As of March 13 , the Internal Revenue Service had issued 59.2 million refunds out of the 76.2 million million individual income tax returns it had received , or 77.7 % of the total number of returns filed by that date .
The average refund check was $ 2,973 , according to @ @ @ @ @ @ @ had extended their own tax filing deadlines to various dates to give people relief from the financial fallout of the coronavirus outbreak , which has shuttered businesses nationwide and led to large-scale layoffs .
The IRS move will increase pressure on states to align their deadlines with the new one for federal income tax returns .
New York Gov .
Andrew Cuomo , asked at a press conference if state residents should pay their state income taxes by the New York deadline of April 15 , said the new federal guideline should be @ @ @ @ @ @ @ return a call for comment from CNBC .
It is not clear if the deadline extension also will include the deadline for funding Individual Retirement Accounts for the 2019 tax year .


cnbc--2020-03-22--Coronavirus stimulus bill fails in key Senate procedural vote

An ambulance sits parked on the plaza outside the U.S. Capitol March 16 , 2020 in Washington , DC .
A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening .
The stalemate came hours after Democratic leaders warned that the bill was not to their liking because they said it did too much to bail out companies and not enough to help workers .
Stock futures cratered as the two parties failed to agree on the terms of the package .
Still , President Donald Trump @ @ @ @ @ @ @ a deal .
`` I think you 'll get there , '' Trump told reporters at the coronavirus task force press briefing shortly after the vote became final .
Efforts to forge a deal and pass the bill took on added urgency as several members of Congress , including GOP Sen. Rand Paul , tested positive for the coronavirus .
Other Republican senators who had been in contact with Paul , including Mitt Romney of Utah , quarantined as a precaution .
The key Senate vote , originally scheduled for 3 p.m .
@ @ @ @ @ @ @ .
The measure , at least in its current form , looked like it was heading for demise earlier Sunday as Democratic leaders aired their concerns with it .
`` From my standpoint , we 're apart , '' House Speaker Pelosi , D-Calif. , told reporters earlier Sunday .
`` Leader McConnell had to postpone his 3 p.m. cloture vote on the motion to proceed because , thanks to Leader Chuck Schumer and Senate Democrats , he did not have the 60 votes required , '' Pelosi said in a statement Sunday @ @ @ @ @ @ @ come to a deal quickly could force the two parties to come to a resolution sooner rather than later .
Yet as of Sunday evening , it remained unclear whether a deal was achievable .
Senate Republicans last week rolled out a roughly $ 1 trillion proposal after working closely with the administration , in a bid to slow the potentially catastrophic impact of the coronavirus on the economy .
More than 26,000 have tested positive for the illness in the United States , a number that is expected to surge as more @ @ @ @ @ @ @ small business loans , direct payments for individuals and billions in aid for industries like airlines whose businesses have been hit hard by the virus and efforts to stop its spread .
Larry Kudlow , the president 's top economic advisor , said Saturday that the bill could end up pumping $ 2 trillion into the economy through government spending and Federal Reserve action .
Senate Republicans and Democrats worked all weekend on a revised bill , working towards to goal of a formal vote on Monday .
But by Sunday , there @ @ @ @ @ @ @ the bill shortchanges workers .
`` I oppose this bill as it currently stands and am urging Republicans to return to the negotiating table so we can reach an agreement that does much more to support the workers , families , and communities on the front lines of this pandemic , '' said Sen. Patty Murray , D-Wash .
The proposed bill now sets aside an up to $ 500 billion fund to support `` severely distressed business . ''
That includes $ 58 billion for passenger and cargo airlines and $ 17 @ @ @ @ @ @ @ security , according to a draft bill obtained by CNBC .
A previous draft bill allocated $ 150 billion for distressed businesses , in addition to $ 58 billion for airlines and cargo carriers .
While the new proposed bill adds certain restrictions that Democrats had pushed for – like a ban on stock buybacks while a loan is outstanding and maintaining payroll `` to the extent practicable '' – those concessions were not enough .
Trump reiterated Sunday evening that he did not want stock buybacks permitted in the measure .
`` @ @ @ @ @ @ @ crisis , Republicans ca n't seriously expect us to tell people in our communities who are suffering that we shortchanged hospitals , students , workers , and small businesses but gave big corporations hundreds of billions of dollars in a secretive slush fund , '' said Murray , whose home state is one of the hardest-hit by the disease 's outbreak .
Murray is ranking member of the Senate Health , Education , Labor , and Pensions Committee .
The panel is pushing for a number of additions , including more funding for @ @ @ @ @ @ @ wants the Department of Labor to create a regulatory standard protecting frontline workers , like nurses , during crises like the coronavirus .
Meantime , the Democratic-led House Appropriations Committee previously criticized the Republican draft bill for `` lack of supplemental funding for federal , state and local response . ''
Airline companies were also disappointed in the bill , which offered aid primarily in the form of loan and loan guarantees , rather than the mix of cash grants and loans they have sought .
The bill also left open the possibility @ @ @ @ @ @ @ of its loans , including through warrants , stock options or equity .
Trump has before said he would not be opposed to taking an equity stake in companies the government extends aid to .
The CEOs of American , Delta , Southwest , United and others on Saturday said the industry would have to furlough workers without $ 29 billion in `` worker payroll protection grants . ''
If they receive that amount in that form , they said they would n't furlough employees through Aug. 31 .
Executives over the last @ @ @ @ @ @ @ grim letters to employees and congressional leadership , saying if the government does n't act fast , it could cost jobs .
Several unions also came out against the bill , urging more specific provisions to protect jobs .
`` The Machinists will not support any relief package that does not put airline workers first , '' said International Association of Machinists and Aerospace Workers ' president , Robert Martinez Jr. in a release .
The union represents some 140,000 airline workers .
`` Unlike the bank bailout , the airline industry did @ @ @ @ @ @

A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening.
The stalemate came hours after Democratic leaders warned that the bill did too much to bail out companies and not enough to help workers. Stock futures cratered as the two parties failed to agree on the terms of the package.
Senate Majority Leader Mitch McConnell lambasted the Democrats.
"We're fiddling with the emotions of the American people, fiddling with the markets, fiddling with our health care," he said.
"Step up," he added. "Help us reach an agreement so we can do what needs to be done for the American people no later than tomorrow."
The final vote tally was 47-47, well short of the 60 votes needed to advance the bill. Republicans hold a 53-47 edge in the chamber, although several GOP senators, including Rand Paul, who had tested positive for the coronavirus, were not present to vote. Others, such as Sen. Mitt Romney of Utah, were in quarantine as a precaution.
President Donald Trump was decidedly optimistic in a coronavirus task force press briefing Sunday that was unfolding as senators voted. "I think you'll get there," he said.
Senate Republicans last week rolled out a roughly $1 trillion proposal after working closely with the administration in a bid to slow the potentially catastrophic impact of the coronavirus on the economy. As on Monday, more than 35,000 have tested positive for the illness in the United States, a number that is expected to surge as more tests are distributed. The bill included small business loans, direct payments for individuals and billions in aid for industries like airlines whose businesses have been hit hard by the virus and efforts to stop its spread.
Republicans had hoped to come to a deal with Democrats by Monday. Hospitals, workers, companies and states have all warned they need more resources. The airline industry, which is expecting financial relief from the bill, has raised continued alarm that without getting money fast, it could face dire outcomes.
The pressure to forge a deal and pass the bill took on added urgency as several members of Congress have tested positive for the coronavirus.
But negotiations that carried through the weekend had hit a sour note by Sunday afternoon. Democrats had already been frustrated that Senate Republicans drafted a bill with the administration, excluding them from the proposed bill's original formation.
"From my standpoint, we're apart," House Speaker Nancy Pelosi, D-Calif., told reporters earlier Sunday.
"Leader McConnell had to postpone his 3 p.m. cloture vote on the motion to proceed because, thanks to Leader Chuck Schumer and Senate Democrats, he did not have the 60 votes required," Pelosi said in a statement Sunday.
Democrats on Sunday called out a number of issues they had with the bill, including a $500 billion fund to support "severely distressed business." That includes $58 billion for passenger and cargo airlines and $17 billion for businesses critical to maintaining national security, according to a draft bill obtained by CNBC.
A previous draft bill allocated $150 billion for distressed businesses, in addition to $58 billion for airlines and cargo carriers.
The bill gave considerable authority to the Treasury to implement that fund. It offered concessions to Democrats like a ban on stock buybacks for companies that receive federal aid while a loan is outstanding and maintaining payroll "to the extent practicable," but some worried those stipulations weren't strong enough. One Democratic aide said opponents believe the bill gave Treasury the power to waive the ban on buybacks.
Other protections for workers and aid for hospitals were also not included.
"In the midst of an unprecedented national crisis, Republicans can't seriously expect us to tell people in our communities who are suffering that we shortchanged hospitals, students, workers, and small businesses but gave big corporations hundreds of billions of dollars in a secretive slush fund," said Sen. Patty Murray, D-Wash., whose home state is one of the hardest-hit by the disease.
Murray is ranking member of the Senate Health, Education, Labor, and Pensions Committee. The panel is pushing for a number of additions, including more funding for hospitals and medical equipment. It also wants the Department of Labor to create a regulatory standard protecting front-line workers, like nurses, during health crises.
The Democratic-led House Appropriations Committee previously criticized the Republican draft bill for "lack of supplemental funding for federal, state and local response."
Airline companies were also disappointed in the bill, which offered aid primarily in the form of loans and guarantees, rather than the mix of cash grants and loans they have sought.
The bill also left open the possibility of the government participating in the gains of its loans, including through warrants, stock options or equity. Trump has he would not be opposed to taking an equity stake in companies to which the government extends aid.
The CEOs of American , Delta , Southwest , United and other airlines said Saturday the industry would have to furlough workers without $29 billion in "worker payroll protection grants." If they receive that amount in that form, they said, they wouldn't furlough employees through Aug. 31.
Executives over the last week have sent out a series of grim letters to employees and congressional leadership, saying if the government doesn't act fast, it could cost jobs.
Several unions also came out against the bill, urging more specific provisions to protect jobs.
"The Machinists will not support any relief package that does not put airline workers first," said Machinists union President Robert Martinez Jr. The union represents some 140,000 airline workers. "Unlike the bank bailout, the airline industry did not create this crisis."