2020 Week #13

This is your weekly news update for March 22nd through 28th, 2020.  There is 1 headline summary & only 3 notable headlines covered this week.

Summary #1. Coronavirus Update.

Summary CARES Bill main provisions are as follows:

  • $1,200 tax rebates to individuals, $2,400 for joint filers, and $500 per qualifying child. Which start phasing out when incomes exceed $75,000, and $150,000 for joint filers. This is estimated to be 301 Billion.
  • 221 billion in tax deferrals and extended deadlines.
  • The bill also extends the tax deadline to July 15th, and until October 15th to pay.
  • 150 billion to states.
  • 48 billion to agriculture and nutrition programs.
  • 10 billion loan to the US Postal Service.
  • 250 billion to unemployment insurance, providing people with an additional $600 per week on top of the unemployment amount determined by each state, for the next 4 months. Also expands the benefit period to 39 weeks, up from 26.
  • 100 billion for hospitals.
  • 17 billion for veteran care.
  • 27 billion to the health industry.
  • Federally backed mortgages will allow up to 360 days of forbearance.
  • Loans of 25 billion for passenger air carriers, 4 billion for air cargo carriers, and 17 billion for businesses critical to maintaining national security.
  • 32 billion in grants to cover wages at passenger air carriers, cargo air carriers, and contractors.
  • 25 billion mostly for public transit.
  • 454 billion in big business loans.
  • 349 billion loan program for small businesses.
  • And lastly, any company receiving a loan is barred from making stock buybacks for the term of the loan, plus one year.
  • NPRU.S. Surpasses China In Cases Of Coronavirus.
  • ReutersNew York sees glimmer of progress against coronavirus, New Orleans worsens.
  • H.R.748 - CARES Act
  • AP NewsTrump boosts virus aid, warns governors to be 'appreciative’.
  • WSJ What’s in the $2 Trillion Senate Coronavirus Bill
  • Wikipedia - CARES Act
  • NPRWhat's Inside The Senate's $2 Trillion Coronavirus Aid Package.
  • WSJDow Soars More Than 11% In Biggest One-Day Jump Since 1933
  • WSJStocks Drop, But Finish the Week With Big Gains.
  • AP News3.3 million seek US jobless aid, nearly 5 times earlier high.
  • NPR3.3 Million File For Unemployment Claims, Shattering Records.
  • Economic Policy InstituteThe coronavirus crisis led to a record-breaking spike in weekly unemployment insurance claims.
  • NPRU.S. Testing Still Isn't Close To What South Korea Has Done.
  • AP NewsTesting blunders crippled US response as coronavirus spread.
  • NPRTo End The Coronavirus Crisis We Need Widespread Testing, Experts Say.
  • NPRFDA Expedites Treatment Of Seriously Ill COVID-19 Patients With Experimental Plasma.
  • TechcrunchFDA now allows treatment of life-threatening COVID-19 cases using blood from patients who have recovered.
  • ReutersCoronavirus cases reported at 13 of Amazon's U.S. warehouses.
  • NPRBoris Johnson Tests Positive For Coronavirus, Is Self-Isolating.
  • WSJTrump Authorizes Mobilization of Ready Reserve to Assist in Coronavirus Relief Efforts.
  • NPRTrump Sets Easter Goal For Reopening American Economy.
  • AP NewsTrump’s push to open economy could come at cost of lives.
  • WSJJapan, IOC Agree to Postpone 2020 Tokyo Olympics by About One Year.
  • WSJTrump Orders General Motors to Make Ventilators.
  • NPRTrump Digs Into GM And Ford, Which Say They're Waiting On The Government.
  • Techcrunch.- Tesla CEO Elon Musk: New York gigafactory will reopen for ventilator production.
  • ReutersGoogle-parent Alphabet to donate $800 million in response to coronavirus crisis.
  • NYTTraffic and Pollution Plummet as U.S. Cities Shut Down for Coronavirus.
Other Notable headlines from the week were.
  • From The Wall Street Journal.  Putin Exploits Coronavirus to Justify Centralized Russian Power.
  • From NPR.  North Korea Seen Expanding Rocket Launch Facility It Once Promised To Dismantle.
  • And From The Wall Street Journal.  Hobby Lobby President to Return 11,500 Antiquities to Iraq and Egypt.
This has been your weekly news update for March 22nd through 28th, 2020.  Links to all the sources for each news summary are in the extensively formatted show notes & at our website, w n u, dot news.  If your particular podcast player doesn’t show the notes neatly, then you might consider a different podcast player.  To ensure we can continue creating this podcast, please subscribe, share it with your friends, & review us on iTunes & Google.  Thank you for listening. 

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