On March 11, U.S. President Donald Trump addresses the nation from the oval office on the Novel Coronavirus outbreak that started in China, now spreading around the world.
He states in his speech that “This is the most aggressive and comprehensive effort to confront a foreign virus in modern history. I am confident that by counting and continuing to take these tough measures, we will significantly reduce the threat to our citizens, and we will ultimately and expeditiously defeat this virus.”
To ensure that working Americans impacted by the virus can stay home without fear of financial hardship, President Trump adds that “I will soon be taking emergency action, which is unprecedented, to provide financial relief. This will be targeted for workers who are ill, quarantined, or caring for others due to coronavirus. I will be asking Congress to take legislative action to extend this relief.“
To provide extra support for American workers, families, and businesses, President Trump is announcing the following additional actions:
“I am instructing the Small Business Administration to exercise available authority to provide capital and liquidity to firms affected by the coronavirus. Effective immediately, the SBA will begin providing economic loans in affected states and territories. These low-interest loans will help small businesses overcome temporary economic disruptions caused by the virus. To this end, I am asking Congress to increase funding for this program by an additional $50 billion. Using emergency authority, I will be instructing the Treasury Department to defer tax payments, without interest or penalties, for certain individuals and businesses negatively impacted. Finally, I am calling on Congress to provide Americans with immediate payroll tax relief. “
President Trump finally emphasizes :”I will never hesitate to take any necessary steps to protect the lives, health, and safety of the American people. I will always put the wellbeing of America first.”
Translation: 【GM31】 Subtitle: 【Sword】 Coordination: 【GM09】