196s Mnuchin talks stimulus package, praises Congress for bipartisan action images and subtitles

BUILDINGS ACTUALLY IN THE WORLD. HE HAS GOTTEN TO KNOW IT, STEVE,HE HAS GOTTEN TO KNOW IT, STEVE, VERY WELL.VERY WELL. SO IF WE COULD HAVE A LITTLESO IF WE COULD HAVE A LITTLE UPDATE, STEVE WOULD BE FANTASTICUPDATE, STEVE WOULD BE FANTASTIC HOW WE ARE DOING, WHAT IT ISHOW WE ARE DOING, WHAT IT IS LOOKING LIKE.LOOKING LIKE. THANK YOU.THANK YOU. >> THANK YOU VERY MUCH,>> THANK YOU VERY MUCH, MR. PRESIDENT, AND FIRST LET MEMR. PRESIDENT, AND FIRST LET ME SAY I WOULD LIKE TO THANKSAY I WOULD LIKE TO THANK MITCH McCONNELL FOR HISMITCH McCONNELL FOR HIS LEADERSHIP AND I WOULD ALSO LIKELEADERSHIP AND I WOULD ALSO LIKE TO THANK CHUCK SCHUMER FOR THETO THANK CHUCK SCHUMER FOR THE ENORMOUS BIPARTISAN SUPPORT WEENORMOUS BIPARTISAN SUPPORT WE HAD ON THIS BILL AND THE MANYHAD ON THIS BILL AND THE MANY SENATORS, BOTH REPUBLICANS ANDSENATORS, BOTH REPUBLICANS AND DEMOCRATS THAT WORKED TIRELESSLYDEMOCRATS THAT WORKED TIRELESSLY OVER THE LAST FIVE DAYS ON ALLOVER THE LAST FIVE DAYS ON ALL THE TASK FORCE.THE TASK FORCE. THE PRESIDENT SAID I GOT TO LIVETHE PRESIDENT SAID I GOT TO LIVE IN THE LBJ ROOM FOR THE LASTIN THE LBJ ROOM FOR THE LAST FIVE DAYS AND WE COULDN’T BEFIVE DAYS AND WE COULDN’T BE MORE PLEASED WITH THEMORE PLEASED WITH THE UNPRECEDENTED RESPONSE FROM THEUNPRECEDENTED RESPONSE FROM THE SENATE TO PROTECT AMERICANSENATE TO PROTECT AMERICAN WORKERS AND AMERICAN BUSINESS INWORKERS AND AMERICAN BUSINESS IN THIS SITUATION.THIS SITUATION. THE PRESIDENT HAS OUTLINED MANYTHE PRESIDENT HAS OUTLINED MANY OF THESE BUT LET ME JUST QUICKLYOF THESE BUT LET ME JUST QUICKLY GO THROUGH THEM.GO THROUGH THEM. AGAIN, SMALL BUSINESS RETENTIONAGAIN, SMALL BUSINESS RETENTION LOANS, THIS WILL COVER ROUGHLYLOANS, THIS WILL COVER ROUGHLY 50% OF THE PRIVATE PAYROLL IN50% OF THE PRIVATE PAYROLL IN SMALL BUSINESSES WHERE WE WILLSMALL BUSINESSES WHERE WE WILL IMMEDIATELY MAKE LOANS THAT WILLIMMEDIATELY MAKE LOANS THAT WILL SUPPLY EIGHT WEEKS OF SALARIESSUPPLY EIGHT WEEKS OF SALARIES AS LONG AS THEY KEEP WORKERSAS LONG AS THEY KEEP WORKERS EMPLOYED AND OVERHEAD.EMPLOYED AND OVERHEAD. AND THOSE LOANS WILL BE FORGIVENAND THOSE LOANS WILL BE FORGIVEN AT THE END OF THE PERIOD AS LONGAT THE END OF THE PERIOD AS LONG AS THEY KEEP WORKERS EMPLOYED.AS THEY KEEP WORKERS EMPLOYED. THESE ARE SBA LOANS BUT TREASURYTHESE ARE SBA LOANS BUT TREASURY WILL ISSUE NEW REGULATIONSWILL ISSUE NEW REGULATIONS AUTHORIZING ALMOST EVERY SINGLEAUTHORIZING ALMOST EVERY SINGLE FDIC INSURED BANK TO MAKE THESE.FDIC INSURED BANK TO MAKE THESE. I EXPECT BY THE END OF NEXT WEEKI EXPECT BY THE END OF NEXT WEEK WE WILL HAVE A VERY SIMPLEWE WILL HAVE A VERY SIMPLE PROCESS WHERE THESE CAN BE MADEPROCESS WHERE THESE CAN BE MADE AND DISPERSED IN THE SAME DAY.AND DISPERSED IN THE SAME DAY. SO THIS WILL BE A VERY SIMPLESO THIS WILL BE A VERY SIMPLE SYSTEM TO GET MONEY INTO SMALLSYSTEM TO GET MONEY INTO SMALL BUSINESS HANDS.BUSINESS HANDS. FOR COMPANIES THAT DON’T QUALIFYFOR COMPANIES THAT DON’T QUALIFY FOR THAT, WE HAVE A ECONOMICFOR THAT, WE HAVE A ECONOMIC PROGRAM OF TAX INCENTIVES TOPROGRAM OF TAX INCENTIVES TO RETAIN WORKERS.RETAIN WORKERS. AND AS THE PRESIDENT SAID, WEAND AS THE PRESIDENT SAID, WE HAVE ENHANCED UNEMPLOYMENTHAVE ENHANCED UNEMPLOYMENT INSURANCE FOR PEOPLE THAT DON’TINSURANCE FOR PEOPLE THAT DON’T FIT INTO THESE TWO PROGRAMS THATFIT INTO THESE TWO PROGRAMS THAT WILL BE ADMINISTERED YOU THEREWILL BE ADMINISTERED YOU THERE THE STATES.THE STATES. WE ALSO HAVE ECONOMIC IMPACTWE ALSO HAVE ECONOMIC IMPACT PAYMENTS.PAYMENTS. THESE WILL BE WITHIN THE NEXTTHESE WILL BE WITHIN THE NEXT THREE WEEKS, DIRECT PAYMENTSTHREE WEEKS, DIRECT PAYMENTS INTO MOST PEOPLE’S DEPOSITINTO MOST PEOPLE’S DEPOSIT ACCOUNTS AND FOR THOSE THATACCOUNTS AND FOR THOSE THAT DON’T HAVE IT, WE WILL BE HAVINGDON’T HAVE IT, WE WILL BE HAVING THE CHECKS IN THE MAIL.THE CHECKS IN THE MAIL. TREASURY WILL HAVE ADDITIONALTREASURY WILL HAVE ADDITIONAL AUTHORITIES.AUTHORITIES. WE HAVE $500 BILLION THAT WE CANWE HAVE $500 BILLION THAT WE CAN USE TO WORK WITH THE FEDERALUSE TO WORK WITH THE FEDERAL RESERVE FOR EMERGENCY PROGRAMSRESERVE FOR EMERGENCY PROGRAMS THAT WILL CREATE UP TO ANTHAT WILL CREATE UP TO AN ADDITIONAL FOUR TRILLION DOLLARSADDITIONAL FOUR TRILLION DOLLARS IF NEEDED TO SUPPORT AMERICANIF NEEDED TO SUPPORT AMERICAN BUSINESS AND AMERICAN WORKERS INBUSINESS AND AMERICAN WORKERS IN AN UNPRECEDENTED WAY.AN UNPRECEDENTED WAY. FINALLY THE PRESIDENT MENTIONEDFINALLY THE PRESIDENT MENTIONED 100 APPROXIMATELY DOLLARS TO100 APPROXIMATELY DOLLARS TO HOSPITALS AND A $150 BILLION TOHOSPITALS AND A $150 BILLION TO STATES THAT HAVE SPECIFICSTATES THAT HAVE SPECIFIC CORONAVIRUS EXPENSES AS WELL ASCORONAVIRUS EXPENSES AS WELL AS MANY ADDITIONAL THINGS.MANY ADDITIONAL THINGS. MR. PRESIDENT, I ESPECIALLY WANTMR. PRESIDENT, I ESPECIALLY WANT TO THANK YOU AND THETO THANK YOU AND THE VICE PRESIDENT.VICE PRESIDENT. YOU WERE CONSTANTLY AVAILABLE TOYOU WERE CONSTANTLY AVAILABLE TO US.US. WE SPOKE CONSTANTLY THROUGHOUTWE SPOKE CONSTANTLY THROUGHOUT THE DAY.THE DAY. YOU GAVE US GUIDANCE AND QUICKYOU GAVE US GUIDANCE AND QUICK DECISIONS ON MANY ISSUES.DECISIONS ON MANY ISSUES. AND AGAIN, THANK EVERYBODY FORAND AGAIN, THANK EVERYBODY FOR THAT GREAT BIPARTISAN WORK.THAT GREAT BIPARTISAN WORK. THIS IS GOING TO BE ENORMOUSTHIS IS GOING TO BE ENORMOUS HELP FOR THE AMERICAN WORKER FORHELP FOR THE AMERICAN WORKER FOR THE AMERICAN ECONOMY.THE AMERICAN ECONOMY. THE PRESIDENT WAS VERYTHE PRESIDENT WAS VERY DETERMINED THAT CONGRESS WOULDDETERMINED THAT CONGRESS WOULD MOVE SWIFTLY TO PROTECTMOVE SWIFTLY TO PROTECT HARD-WORKING AMERICANS ANDHARD-WORKING AMERICANS AND BUSINESS IN THIS UNPRECEDENTEDBUSINESS IN THIS UNPRECEDENTED SITUATION.

Mnuchin talks stimulus package, praises Congress for bipartisan action

Treasury Secretary Steven Mnuchin spoke to press during the White House Coronavirus Task Force press briefing. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in more than 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C. Subscribe to Fox Business! bit.ly/2D9Cdse Watch more Fox Business Video: video.foxbusiness.com Watch Fox Business Network Live: www.foxnewsgo.com/ Watch full episodes of FBN Primetime shows Lou Dobbs Tonight: video.foxbusiness.com/playlist/longform-lou-dobbs-tonight Trish Regan Primetime: video.foxbusiness.com/playlist/longform-trish-regan-primetime Kennedy: video.foxbusiness.com/playlist/longform-kennedy Follow Fox Business on Facebook: www.facebook.com/FoxBusiness Follow Fox Business on Twitter: twitter.com/foxbusiness Follow Fox Business on Instagram: www.instagram.com/foxbusiness
employees, chuck schumer, dems, coronavirus relief aid, steve mnuchin, coronavirus pandemic, MItch McConnell, coronavirus, covid 19, nancy pelosi, businesses, news, small businesses, politics, democrats, corporate bailouts, us economy, gop senators, treasury secretary, us congress, us lawmakers, Fox Business Network, FBN, White House coronavirus press briefing, republicans, Fox Business, trillion dollar bill, coronavirus relief, Senate Majority Leader, american workers, senators,
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< start="1.102" dur="1.8">BUILDINGS ACTUALLY IN THE WORLD. HE HAS GOTTEN TO KNOW IT, STEVE,>

< start="2.904" dur="0.833">HE HAS GOTTEN TO KNOW IT, STEVE, VERY WELL.>

< start="3.771" dur="2.101">VERY WELL. SO IF WE COULD HAVE A LITTLE>

< start="5.906" dur="1.434">SO IF WE COULD HAVE A LITTLE UPDATE, STEVE WOULD BE FANTASTIC>

< start="7.341" dur="2.668">UPDATE, STEVE WOULD BE FANTASTIC HOW WE ARE DOING, WHAT IT IS>

< start="10.011" dur="0.432">HOW WE ARE DOING, WHAT IT IS LOOKING LIKE.>

< start="10.445" dur="0.399">LOOKING LIKE. THANK YOU.>

< start="10.878" dur="1.668">THANK YOU. >> THANK YOU VERY MUCH,>

< start="12.547" dur="0.867">>> THANK YOU VERY MUCH, MR. PRESIDENT, AND FIRST LET ME>

< start="13.447" dur="2.102">MR. PRESIDENT, AND FIRST LET ME SAY I WOULD LIKE TO THANK>

< start="15.582" dur="1.768">SAY I WOULD LIKE TO THANK MITCH McCONNELL FOR HIS>

< start="17.352" dur="1.466">MITCH McCONNELL FOR HIS LEADERSHIP AND I WOULD ALSO LIKE>

< start="18.853" dur="2.668">LEADERSHIP AND I WOULD ALSO LIKE TO THANK CHUCK SCHUMER FOR THE>

< start="21.522" dur="1">TO THANK CHUCK SCHUMER FOR THE ENORMOUS BIPARTISAN SUPPORT WE>

< start="22.523" dur="2.135">ENORMOUS BIPARTISAN SUPPORT WE HAD ON THIS BILL AND THE MANY>

< start="24.692" dur="1.835">HAD ON THIS BILL AND THE MANY SENATORS, BOTH REPUBLICANS AND>

< start="26.561" dur="2.101">SENATORS, BOTH REPUBLICANS AND DEMOCRATS THAT WORKED TIRELESSLY>

< start="28.696" dur="2.035">DEMOCRATS THAT WORKED TIRELESSLY OVER THE LAST FIVE DAYS ON ALL>

< start="30.765" dur="0.866">OVER THE LAST FIVE DAYS ON ALL THE TASK FORCE.>

< start="31.633" dur="1.5">THE TASK FORCE. THE PRESIDENT SAID I GOT TO LIVE>

< start="33.134" dur="2.635">THE PRESIDENT SAID I GOT TO LIVE IN THE LBJ ROOM FOR THE LAST>

< start="35.77" dur="2.001">IN THE LBJ ROOM FOR THE LAST FIVE DAYS AND WE COULDN’T BE>

< start="37.772" dur="2.802">FIVE DAYS AND WE COULDN’T BE MORE PLEASED WITH THE>

< start="40.575" dur="2.968">MORE PLEASED WITH THE UNPRECEDENTED RESPONSE FROM THE>

< start="43.545" dur="1.133">UNPRECEDENTED RESPONSE FROM THE SENATE TO PROTECT AMERICAN>

< start="44.712" dur="1.134">SENATE TO PROTECT AMERICAN WORKERS AND AMERICAN BUSINESS IN>

< start="45.88" dur="0.7">WORKERS AND AMERICAN BUSINESS IN THIS SITUATION.>

< start="46.581" dur="1.801">THIS SITUATION. THE PRESIDENT HAS OUTLINED MANY>

< start="48.416" dur="2.068">THE PRESIDENT HAS OUTLINED MANY OF THESE BUT LET ME JUST QUICKLY>

< start="50.485" dur="1.567">OF THESE BUT LET ME JUST QUICKLY GO THROUGH THEM.>

< start="52.086" dur="1.701">GO THROUGH THEM. AGAIN, SMALL BUSINESS RETENTION>

< start="53.821" dur="1.801">AGAIN, SMALL BUSINESS RETENTION LOANS, THIS WILL COVER ROUGHLY>

< start="55.657" dur="3.302">LOANS, THIS WILL COVER ROUGHLY 50% OF THE PRIVATE PAYROLL IN>

< start="58.96" dur="2.101">50% OF THE PRIVATE PAYROLL IN SMALL BUSINESSES WHERE WE WILL>

< start="61.062" dur="3.002">SMALL BUSINESSES WHERE WE WILL IMMEDIATELY MAKE LOANS THAT WILL>

< start="64.065" dur="1.434">IMMEDIATELY MAKE LOANS THAT WILL SUPPLY EIGHT WEEKS OF SALARIES>

< start="65.5" dur="2.702">SUPPLY EIGHT WEEKS OF SALARIES AS LONG AS THEY KEEP WORKERS>

< start="68.203" dur="2.101">AS LONG AS THEY KEEP WORKERS EMPLOYED AND OVERHEAD.>

< start="70.338" dur="1.801">EMPLOYED AND OVERHEAD. AND THOSE LOANS WILL BE FORGIVEN>

< start="72.173" dur="1.734">AND THOSE LOANS WILL BE FORGIVEN AT THE END OF THE PERIOD AS LONG>

< start="73.908" dur="3.402">AT THE END OF THE PERIOD AS LONG AS THEY KEEP WORKERS EMPLOYED.>

< start="77.312" dur="2.969">AS THEY KEEP WORKERS EMPLOYED. THESE ARE SBA LOANS BUT TREASURY>

< start="80.282" dur="1.834">THESE ARE SBA LOANS BUT TREASURY WILL ISSUE NEW REGULATIONS>

< start="82.117" dur="1.901">WILL ISSUE NEW REGULATIONS AUTHORIZING ALMOST EVERY SINGLE>

< start="84.019" dur="1.8">AUTHORIZING ALMOST EVERY SINGLE FDIC INSURED BANK TO MAKE THESE.>

< start="85.821" dur="1.766">FDIC INSURED BANK TO MAKE THESE. I EXPECT BY THE END OF NEXT WEEK>

< start="87.589" dur="2.501">I EXPECT BY THE END OF NEXT WEEK WE WILL HAVE A VERY SIMPLE>

< start="90.092" dur="1.7">WE WILL HAVE A VERY SIMPLE PROCESS WHERE THESE CAN BE MADE>

< start="91.793" dur="2.702">PROCESS WHERE THESE CAN BE MADE AND DISPERSED IN THE SAME DAY.>

< start="94.496" dur="2.702">AND DISPERSED IN THE SAME DAY. SO THIS WILL BE A VERY SIMPLE>

< start="97.199" dur="2.701">SO THIS WILL BE A VERY SIMPLE SYSTEM TO GET MONEY INTO SMALL>

< start="99.902" dur="1.132">SYSTEM TO GET MONEY INTO SMALL BUSINESS HANDS.>

< start="101.036" dur="2.401">BUSINESS HANDS. FOR COMPANIES THAT DON’T QUALIFY>

< start="103.438" dur="4.303">FOR COMPANIES THAT DON’T QUALIFY FOR THAT, WE HAVE A ECONOMIC>

< start="107.743" dur="2.401">FOR THAT, WE HAVE A ECONOMIC PROGRAM OF TAX INCENTIVES TO>

< start="110.145" dur="1.067">PROGRAM OF TAX INCENTIVES TO RETAIN WORKERS.>

< start="111.213" dur="1.233">RETAIN WORKERS. AND AS THE PRESIDENT SAID, WE>

< start="112.481" dur="1.733">AND AS THE PRESIDENT SAID, WE HAVE ENHANCED UNEMPLOYMENT>

< start="114.249" dur="1.267">HAVE ENHANCED UNEMPLOYMENT INSURANCE FOR PEOPLE THAT DON’T>

< start="115.517" dur="1.3">INSURANCE FOR PEOPLE THAT DON’T FIT INTO THESE TWO PROGRAMS THAT>

< start="116.818" dur="2.001">FIT INTO THESE TWO PROGRAMS THAT WILL BE ADMINISTERED YOU THERE>

< start="118.82" dur="1.133">WILL BE ADMINISTERED YOU THERE THE STATES.>

< start="119.955" dur="3.269">THE STATES. WE ALSO HAVE ECONOMIC IMPACT>

< start="123.225" dur="0.333">WE ALSO HAVE ECONOMIC IMPACT PAYMENTS.>

< start="123.592" dur="1.867">PAYMENTS. THESE WILL BE WITHIN THE NEXT>

< start="125.461" dur="1.533">THESE WILL BE WITHIN THE NEXT THREE WEEKS, DIRECT PAYMENTS>

< start="127.029" dur="2.835">THREE WEEKS, DIRECT PAYMENTS INTO MOST PEOPLE’S DEPOSIT>

< start="129.899" dur="1.233">INTO MOST PEOPLE’S DEPOSIT ACCOUNTS AND FOR THOSE THAT>

< start="131.166" dur="1.868">ACCOUNTS AND FOR THOSE THAT DON’T HAVE IT, WE WILL BE HAVING>

< start="133.035" dur="3.836">DON’T HAVE IT, WE WILL BE HAVING THE CHECKS IN THE MAIL.>

< start="136.872" dur="1.701">THE CHECKS IN THE MAIL. TREASURY WILL HAVE ADDITIONAL>

< start="138.574" dur="0.399">TREASURY WILL HAVE ADDITIONAL AUTHORITIES.>

< start="138.974" dur="2.168">AUTHORITIES. WE HAVE $500 BILLION THAT WE CAN>

< start="141.143" dur="1.834">WE HAVE $500 BILLION THAT WE CAN USE TO WORK WITH THE FEDERAL>

< start="143.012" dur="2.367">USE TO WORK WITH THE FEDERAL RESERVE FOR EMERGENCY PROGRAMS>

< start="145.381" dur="2.001">RESERVE FOR EMERGENCY PROGRAMS THAT WILL CREATE UP TO AN>

< start="147.383" dur="1.267">THAT WILL CREATE UP TO AN ADDITIONAL FOUR TRILLION DOLLARS>

< start="148.684" dur="2.568">ADDITIONAL FOUR TRILLION DOLLARS IF NEEDED TO SUPPORT AMERICAN>

< start="151.253" dur="2.134">IF NEEDED TO SUPPORT AMERICAN BUSINESS AND AMERICAN WORKERS IN>

< start="153.389" dur="2.501">BUSINESS AND AMERICAN WORKERS IN AN UNPRECEDENTED WAY.>

< start="155.925" dur="1.533">AN UNPRECEDENTED WAY. FINALLY THE PRESIDENT MENTIONED>

< start="157.493" dur="2.001">FINALLY THE PRESIDENT MENTIONED 100 APPROXIMATELY DOLLARS TO>

< start="159.495" dur="2.268">100 APPROXIMATELY DOLLARS TO HOSPITALS AND A $150 BILLION TO>

< start="161.764" dur="2.401">HOSPITALS AND A $150 BILLION TO STATES THAT HAVE SPECIFIC>

< start="164.166" dur="1.3">STATES THAT HAVE SPECIFIC CORONAVIRUS EXPENSES AS WELL AS>

< start="165.467" dur="1.234">CORONAVIRUS EXPENSES AS WELL AS MANY ADDITIONAL THINGS.>

< start="166.735" dur="1.835">MANY ADDITIONAL THINGS. MR. PRESIDENT, I ESPECIALLY WANT>

< start="168.604" dur="2.101">MR. PRESIDENT, I ESPECIALLY WANT TO THANK YOU AND THE>

< start="170.706" dur="0.466">TO THANK YOU AND THE VICE PRESIDENT.>

< start="171.173" dur="1.234">VICE PRESIDENT. YOU WERE CONSTANTLY AVAILABLE TO>

< start="172.408" dur="0.266">YOU WERE CONSTANTLY AVAILABLE TO US.>

< start="172.675" dur="1.834">US. WE SPOKE CONSTANTLY THROUGHOUT>

< start="174.51" dur="0.6">WE SPOKE CONSTANTLY THROUGHOUT THE DAY.>

< start="175.111" dur="2.201">THE DAY. YOU GAVE US GUIDANCE AND QUICK>

< start="177.313" dur="1.6">YOU GAVE US GUIDANCE AND QUICK DECISIONS ON MANY ISSUES.>

< start="178.948" dur="1.8">DECISIONS ON MANY ISSUES. AND AGAIN, THANK EVERYBODY FOR>

< start="180.783" dur="2.301">AND AGAIN, THANK EVERYBODY FOR THAT GREAT BIPARTISAN WORK.>

< start="183.085" dur="1.334">THAT GREAT BIPARTISAN WORK. THIS IS GOING TO BE ENORMOUS>

< start="184.453" dur="2.302">THIS IS GOING TO BE ENORMOUS HELP FOR THE AMERICAN WORKER FOR>

< start="186.789" dur="0.9">HELP FOR THE AMERICAN WORKER FOR THE AMERICAN ECONOMY.>

< start="187.69" dur="1.934">THE AMERICAN ECONOMY. THE PRESIDENT WAS VERY>

< start="189.625" dur="1.401">THE PRESIDENT WAS VERY DETERMINED THAT CONGRESS WOULD>

< start="191.06" dur="2.268">DETERMINED THAT CONGRESS WOULD MOVE SWIFTLY TO PROTECT>

< start="193.329" dur="0.666">MOVE SWIFTLY TO PROTECT HARD-WORKING AMERICANS AND>

< start="194.03" dur="1.7">HARD-WORKING AMERICANS AND BUSINESS IN THIS UNPRECEDENTED>

< start="195.765" dur="0.166">BUSINESS IN THIS UNPRECEDENTED SITUATION.>