Trump signs emergency coronavirus package, injecting $8.3 billion into efforts to fight the outbreak

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President Donald Trump during a briefing at the Vaccine Research Center in Bethesda, Maryland, on March 3, 2020. Reuters

  • President Donald Trump signed on Friday a sweeping emergency package to combat the coronavirus.
  • The move injected billions into government efforts to contain an illness that has killed nearly a dozen people in the US.
  • The fast pace of the legislation underscored a sense of urgency in Washington as policymakers scramble to respond to the outbreak.
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President Donald Trump signed on Friday a sweeping emergency package to combat the coronavirus, injecting billions into government efforts to contain an outbreak that has killed nearly a dozen people in the US.

The House and Senate overwhelmingly approved the $8.3 billion legislation this week, underscoring a sense of urgency in Washington as policymakers scramble to respond to the respiratory illness COVID-19. The Centers for Disease Control and Prevention has warned it would almost certainly spread throughout communities in the US.

The so-called supplemental is more than triple the size of the one requested by the White House last week, which sparked opposition on both sides of the aisle. Trump quickly changed course and signaled he would accept far more than the $2.5 billion package his administration requested, which would have diverted about $1.25 billion from other federal programs.

"We've signed the 8.3 billion," Trump said in the Diplomatic Room of the White House. "I asked for two-and-a-half and I got 8.3 and I'll take it."

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The legislation came after several days of negotiations and partisan spats over vaccine pricing, access to virtual healthcare, and other issues.

"As we confront this widening crisis, it is important to remember that we are not Republicans or Democrats seeking to score political points in addressing this threat. We are Americans," said Sen. Patrick Leahy, the ranking Democrat on the Senate Appropriations Committee.

The bill includes more than $3 billion for the research and development of vaccines and diagnostics, roughly $2.2 billion to fund public-health programs, and $1 billion for medical supplies and other preparedness measures. The legislation also offers low-interest Small Business Administration loans for companies that have struggled in the face of the outbreak.

Read more: Here are 10 must-listen podcasts that can help you master investing, from day-trading to real estate

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The State Department is separately set to receive $1.25 billion toward efforts to contain the outbreak abroad, despite a long-shot amendment from Senator Rand Paul to cut certain international expenditures.

"I support our government's efforts to fight the coronavirus," the Kentucky Republican, a longtime deficit hawk who has pushed for similar appropriations amendments before, said in a statement. "We also owe it to the American people to do it in a way that avoids piling billions more in debt on their backs."

Contact this reporter at gheeb@businessinsider.com.

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