Global cases: More than 201,000
Global deaths: At least 8,007
US cases: At least 6,496
US deaths: At least 114
– The administration has proposed a stimulus package to combat economic fallout from the coronavirus pandemic which will include two rounds of direct payments to taxpayers totaling $500 billion.
o The White House hopes to send out its first round of checks on April 6, and the second on May 18.
o Payments will be based on income level and family size.
– Beyond direct payments, the government is looking to set aside $50 billion for the ailing airline industry, as well as $150 billion for “other distressed sectors.”
o It was not immediately clear which industries would be covered, but the tourism and hotel industries are among those that have also asked the government for relief.
– Stocks tumbled on Wednesday as the markets remain highly volatile with the government response to the coronavirus fallout still unfolding.
o A violent reversal in Treasury yields in response to a potential $1 trillion stimulus package helped to unnerve investors.
– While the Treasury is giving taxpayers a 90-day reprieve on paying amounts owed from last year, you are still required to get your 2019 income tax return submitted by April 15.
– The National Restaurant Association is asking the federal government for financial relief for the industry as it forecasts sales declines of $225 billion over the next three months.
– Treasury Secretary Steven Mnuchin told CNBC on Wednesday the U.S. will not have 20% unemployment — a figure he reportedly warned Republican senators about in a private briefing — if they follow the Trump administration’s coronavirus plan.
*Information gathered from CNBC’s Live Blog coverage.
– As the coronavirus outbreak continues to grow in Texas, Gov. Greg Abbott on Wednesday issued a proclamation that will allow municipalities to postpone their upcoming May 2 elections until November.
o Individual municipalities will still have to act to postpone their elections, but Abbott urged them to move them to November.
– The Trump administration is finalizing plans to immediately send undocumented immigrants apprehended on the southern border back to Mexico in efforts to prevent COVID-19 spreading.
– In an effort to expand access to telemedicine services, Gov. Greg Abbott announced Tuesday that state-regulated health plans must pay doctors who see patients remotely as much as they would pay for in-person visits.
– Gov. Greg Abbott requested emergency designation this evening for small-business disaster loans from the U.S. Small Business Administration. If granted, according to Abbott’s office, the SBA would provide long-term, low-interest loans to “qualifying businesses” across the state.
– San Antonio officials on Tuesday night reported the first instance of community spread of the novel coronavirus in that city.
– Hospital workers sound alarm about capacity challenges.
– Texas has 76 cases; state reports its first coronavirus-related death.
– Texas National Guard to be activated to respond to outbreak.
– More cases of community spread reported.
*Information gathered from The Texas Tribune’s Live Blog coverage.