The White House and Congress have been in talks on Tuesday about measures to boost the U.S. economy and its laborers' salaries in the advent of the novel coronavirus, but here was no recent sign of a deal yet.
The coronavirus outbreak has affected the global economy. In the U.S., it has thrown into relief the profundity of inequality and the records of people living on the edge in the world's largest economy.
Small businesses with its workers employed continue to be impacted by the coronavirus as fears of a worsening pandemic grow.
According to experts, few in this economy could be hit harder than America's small business community. Thus, small businesses are asking for assistance from Washington.
Sporting and cultural events across the country have been canceled.
Producers said they anticipate to resume theater shows on April 13, said a statement from The Broadway League, an organization of theater owners and producers.
President Donald Trump on Wednesday declared measures meant to strengthen an economy reeling from the new coronavirus outbreak. They are also downplaying the current situation.
A travel ban was imposed on mainland Europe for 30 days. Trump stated trade would be halted, but he later backtracked the latter part.
The U.S. president and Congress are making efforts towards new legislation to strengthen the U.S. economy with competing priorities.
Democrats in the House of Representatives would like to focus legislation on helping families that may be impacted by school and workplace closures.
Clarifying that the U.S. economy remains strong, Trump urged Congress to provide Americans with immediate payroll tax relief. The pandemic has disrupted businesses, particularly the travel industry, and sent Wall Street plunging.
COVID-19 or the novel coronavirus is a highly contagious, and sometimes fatal respiratory illness, which has alarmed health officials and spurred calls within Congress for efforts to expand testing and avert an economic meltdown.
Vice President Mike Pence, who is the main superior of the White House's coronavirus task force, said, "We had a good reception on Capitol Hill. We're going to be working with Republican and Democratic leadership to move a legislative package."
The COVID-19 outbreak has been an equalizer of different social status, from rich to poor. Many Americans cannot obey expert advice to stay home and not go to work in case they show symptoms. They either do not have any sick leaves or do not have enough paid sick leaves and cannot afford to miss a paycheck.
Rep. Steve Chabot (R-OH) is included in those who want fast action to protect America's economic backbone as part of a massive stimulus bill.
"We know that there has to be an appropriate response for the owners as well as the employees to make sure that these small businesses stay whole," according to Rep. Judy Chu (D-CA).
Analysts at Cowen, an investment bank and financial-services company, noted that "declining consumer confidence, potentially severe retail-traffic declines, and temporary store closures are evolving risk factors that depend on uncertain variables like the geographic spread of the virus and the timing of containment/eradication solutions."
