Pres. Trump thank you very much. So. Nice to be with you. America continues to gain ground in the war against the virus. I want to thank the American People for answering the call, following our guidelines and making the sacrifices required to overcome this terrible threat more aggressively. We commit to social distancing, so important. Social distancing, such an important phrase. And we do it right now. The more lives we can save and the sooner we can eventually get people back to work, back to school, and back to normal. There are large sections of our country that can probably go back much sooner than other sections, and we are obviously looking at that also. People are asking, is that an alternative . I say, absolutely, it is an alternative. Disaster declarations for new york, california, washington, iowa, louisiana, texas and florida. That has great significance, as you know, and legal significance. Were in a constant grouping and i can say this, we have a large grouping of people that does nothing but communicate with the various officials, including weve been spending a lot of time with new york officials because that really is by far the hottest spot. Theyve got a number of very tough weeks ahead of them. The governor is doing a good job. I spoke to Governor Cuomo last night and this morning. And he mentioned that, in his remarks, that hes using the that we are using i think he feels, because he understands negotiation, he thinks were using very appropriately the defense production act and we are. Were using it where needed. Its a great point of leverage. Its a great negotiating tool. But ive really i will tell you this, tremendous spirit from people and tremendous spirit with respect to these companies. And i dont have to use it very much at all. They want to do it, as you know, General Motors is involved. Fords involved. 3ms involved. Others are involved. Theyre all working very hard to produce product, all different products. We had very little product when we came. We built it up and we give it away as fast as we can to the different states. Were also, as you know, building numerous hospitals and medical centers throughout certain areas in new york. In new york its at the convention center. Were doing four hospitals and were doing, throughout the state, four medical centers there. Somewhere different. I want you to know that im doing everything in my power to help the city pull through this challenge. Im working very hard in new york. Its really by far our biggest problem, maybe it will be, maybe it wont be. But theres a lot of good, capable people working on it with us and our teams are working very well with the state representatives. Were also doing some very large testings throughout the country. I told you yesterday that and south korea, and this is not a knock in any way. I just spoke with president moon, we had a very good conversation about numerous other things, but theyve done a very good job in testing. But we now are doing more testing than anybody by far. We do more in eight days than they do in eight weeks. We go up on a daily basis exponentially. So its really good. By the way, while im honored, on it, i also spoke with the Prime Minister of japan last night and congratulated him on a wise choice. I think its going to be a fantastic olympics. 2021. I think its going to be a fantastic olympics. It was the absolute right decision to delay it. For a full year. And now have a full beautiful olympics. Its going to be very important because its probably the first time maybe ever or certainly in a long time that it was on an odd year. Its always on an even year, they tell me. But hes going to have a fantastic success and now theyll have even more time. He didnt need any more time. Everything was perfectly ready. What a job theyve done. But i want to congratulate japan, the i. O. C. And Prime Minister abe on a great decision. I think its going to be a fantastic olympics. I told him, ill be there. Ill be there. As we fight to protect american lives, were also protecting american livelihoods. Democrats and republicans in the senate are very close to passing an emergency relief bill for American Workers, families and businesses. This legislation, in addition to the two bills i signed this month, it includes, as you know, sick leave and we have all sorts of things in for the workers, for families. But we have a tremendous paid sick leave provision for workers at no cost at all to the employers. And its a big thing. No cost to the employers. We want to get everybody back working. Together this 2. 2 trillion legislative package is bigger than anything i believe ever passed in Congress Perhaps relatively speaking if you look during the new deal days, it time validity, but this is far and away the biggest ever done and thats a tremendous thing because a lot of this money goes to jobs, jobs, jobs, and families, families, families. The senate bill includes 350 billion in Job Retention loans for Small Businesses with loan forgiveness for businesses that continue paying their workers. We want them to keep their workers and pay their workers. This will help keep workers in the payroll and allow accelerate as soon as we defeat the virus. 300 billion indirect payments for american citizens earning 99,000. 3,000 400 for a typical family of for. Nothing like that has been done. Up to 250 billion in expanded unemployment benefits. The worker will receive 100 of their salary for up to four full months and unlike full benefits, independent contractors and the selfemployed will be eligible. You have independent contractors and selfemployed people will be eligible for this. Over 100 billion to support the heroic work of our doctors, nurses and hospitals have been incredible, 45 billion for Disaster Relief fund and we are setting up a fund of 45 billion for Disaster Relief. More than doubling the amount of available to support my National Emergency and disaster declarations. 27 billion to buildup the Strategic National stockpile with critical supplies including masks, respirators and pharmaceuticals and everything you can imagine because it was very depleted like our military was depleted, its already come for the most part. But we have a lot of things that will soon be coming, planes, missiles, rockets, lots of things. But the stockpile was very depleted, like everything else. This will also include significant funding for the development of vaccines on top of the 8 billion we approved several weeks ago. Over 500 billion in support for the hardest hit industries, with a ban on corporate stock buybacks which is something i insisted on and frankly, i tell you the republicans wanted that and the democrats wanted that. A ban on corporate stock to get over this rough patch. And i dont think its going to be a rough patch. When we open, the sooner the better, its going to open up like a rocketship and go very good and very quickly and tough new limits on executive compensation also. They need the money. They are going to have to make things work because we are interested in the workers, the jobs. And we are interested in the companies because thats what fuels the workers in those great jobs. We have 16 billion in funding for the purchase of personal protective equipment. Such as masks and respirators through the Strategic National stockpile. I encourage the house to pass this vital legislation and send a bill to my desk for signature without delay. I will sign it immediately. We will have a signing and great signing and great day for the American Worker and for American Families and for American Companies which were having the best years they ever had, the last few years and then a little bit less than a month ago, they went into a position they havent seen because of the hidden enemy, the virus. Earlier today, i spoke to leaders of many americas amazing nonprofit organizations. I thank them for their unwavering diversion to American People, to American Families, to our nation and they have been fantastic and collecting supplies, distributing food and supporting Health Care Workers, caring for vulnerable workers and families. I encourage them to continue to do it. The nonprofits have been fantastic and great. They are great. I know a lot of them. I want to provide an update on the critical supplies. Fema is shipping 9. 4 million respirators, think of that, 9. 4 million. 20 million surgical masks and we have others that we think are going to be delivered quickly. The whole world, not just us or the states, the whole world is trying to get these things in competition with many, many countries. I believe today you broke the 150 mark for the virus. We have 150 countries, over 150 countries that have this virus and nobody will believe a thing like that is possible. Nobody could have seen Something Like this coming. We know it could happen again. And if it does, somebody is going to be well prepared because of what we learned. How incredible what we have done. There are more tests by anybody by far. And the news, the reporters, the media, they called me and amazing your testing procedures are amazing and we have a highlevel test and its a test that is accurate. 3. 1 million face shields. 14. 6 million gloves and 6,000 ventilators, which go to the areas of greatest needs. We sent over the last day 4,000 ventilators to new york. And i spoke with the governor about that. He was happy. I spoke with the mayor also about that. Mayor de blasio who is very happy. Hard not to be happy with the job we are doing. Throughout this National Emergency, every day heroes continue to step forward and demonstrate the character of our nation including the people behind me, by the way. These people are amazing. They are amazing people and maybe i should speak for myself, to me they have become friends. Maybe they dont like me, maybe they do. They work very hard. In maryland, a sevenyearold boy used his birthday money to buy meals for senior. In nevada, a College Student helped deliver groceries and supplies. This is happening. Thousands and thousands. In minnesota, hundreds of medical students have volunteered to provide child care for hospital workers helping to keep our doctors and nurses on the front line fighting to save lives. These americans remind us we have a role to play in winning this Great National battle and it is a worldwide battle. We are dealing with other nations. Take calls. A lot of countries are in big trouble. So now we will hear from our great secretary of the treasury. He has been working rather hard, i will tell you. Steve mnuchin is a fantastic guy and dealing with both sides, democrats and republicans. Steve, very well and have a little update it would be nice to hear what we are doing and what it is looking. I would like to thank Mitch Mcconnell for his leadership and i would like to thank Chuck Schumer for the enormous bipartisan support we had on this bill and the democrats and republicans who worked tirelessly. The president said, i got to live in the l. B. J. Room the last five days and couldnt be more pleased with the unprecedented response from the senate to protect American Workers and American Business in this situation. The president has outlined many of these but let me go through these quickly. Small Business Retention loans, this will cover roughly 50 of the private payroll in Small Businesses where we will immediately make loans that will supply eight weeks of salaries as long as they keep workers employed and overhead. And those loans will be forgiven at the end of the period as long as they keep workers employed. These are s. B. A. Loans but the treasury will authorize every single fdic insured bank to make these. I expect by the end of next week, we will have a simple process where these can be made and disbursed in the same day. This will be a very simple system to get money into Small Business hands. For companies that dont qualify that, we have an Economic Program of tax incentives to retain workers and as the president said, we have enhanced Unemployment Insurance for people who dont fit into these two programs that will be administered through the states. We will have Economic Impact payments. These will be within the next three weeks. Direct payments into most peoples deposit accounts. And for those who dont have it, we will be having the check in the mail. Our treasury will have additional authorities, we have 500 billion to work with the Federal Reserve to work for emergency programs and create 4 trillion if needed to support American Business and American Workers in an unprecedented way. And the president mentioned 100 billion to hospitals and 150 billion to states that have specific coronavirus expenses. Mr. President , i want to thank you and the Vice President. You are constantly available to us. We spoke constantly throughout the day and you gave us guidance and quick decisions on many issues. And again, thank everybody for this bipartisan work. This is going to be enormous help for the American Workers and the American Economy. The president was determined that congress would move swiftly to protect americans in this unprecedented situation. Pres. Trump day and night. A lot of work and see how it all goes and we need the votes. Do you have a question . Do you think this bill will keep the economy afloat . Pres. Trump we are going to take care of the American Workers and make the country great. Its not their fault. Not their fault. But we think you anticipate it in three months and wont need this for three months. This war will be won quicker. This is a significant amount of money, if needed, to recover the economy. Pres. Trump this is to keep economies. Companies, aaarated companies to keep them going and going to be in the form of loans. So the money is coming back. Let me ask you something, you said we shouldnt rely on a Foreign Company for the means of our own survival, what do you mean . Pres. Trump ive been saying that for a long time. We rely on many countries. We give up our supply chains and give up our production facilities and buy it someplace else for a lower price but we lose jobs and everything and lose our independence and cant let that happen. We will be making some changes. We have been making those changes. Do you have a ban to export the medical equipment . Pres. Trump it is happening by itself. A lot of things are happening. Some people, we make the best medical equipment in the world and you have some people like the european union, they dont take it because they have specifications that dont allow our equipment in because its designed in a different way, even though its a better way. They are all playing games against us. They have been playing games against us and no president has ever done anything about it. But the european union, you look at the medical equipment, we make the best but we cant sell it because we are not appropriately. And we take their medical equipment in our country. We are changing things. All of this is changing. But they have specifications so that our equipment designed specifically so our equipment cant come into their countries. Its a very terrible thing that has happened. Some of the people that took the biggest advantage of us are our allies. They took advantage of us in many ways, financially and militarily. When you look at look, i got if you look at nato, the abuse that was given to our country on nato where they wouldnt pay. And we were paying for everybody. Now, because of me, they are paying a lot. Now they paid 125 million more and then ultimately secretary bergal so berg sultan who i think would say is my biggest fan we got them to pay an additional 400 billion. And then theres the trade. They make it almost impossible for us to have a fair deal. They know this. I am just waiting. We have all the advantages. Its going to be easy when i decide to do it. This is not the right time to do it. We have been treated unfairly by the european union. Mr. President , four republican senators have indicated that will extra 600 for Unemployment Insurance may encourage employees to lose their jobs. What do you think . Pres. Trump i know the issue very well. Steve, maybe you can discuss that. We spoke to several senators today. Let me just explain the issue, which is we want to have enhanced Unemployment Insurance. Most of these state systems have technology that is 30 years old or older. If we had the ability to customize this with much more specifics, we would have. This was the only way that states could get money out quickly in a fair way and used 600 across the board. I dont think it will create incentives. Most americans, what they want, they want to keep their jobs. For 50 of these businesses, they will have the businesses keep those jobs. So this was our number one issue is how do we make sure that American Workers who needed to keep getting paid, this is no fault of their own, that businesses have been shut down, the president and Vice President wanted to make sure the hardworking americans got money and this was the most efficient way. Are they in agreement now . Im not going to comment on the specifics of where they are. I would say our expectation this bill passes tonight and gets to the house tomorrow and pass it. We need to