COVID-19 Federal Responses: Monday, June 8, 2020

White House and Federal Agencies

• White House Council of Economic Advisers Chairman Kevin HassettreiteratedPresident Trump’s interest in passing more economic stimulus legislation.
  • The economy is showing signs of improving, which could impact the White House’s priorities for the bill.
  • President Trump still supports a payroll tax cut as one of his top priorities for the bill. However, Congress is less enthusiastic about this proposal because a payroll tax cut does not help unemployed Americans.
• TheWhite House Coronavirus Taskforcedoes not see a link between an increase in COVID-19 cases and states reopening, but there are worries of a spike in cases related to ongoing protests in all 50 states.
• Food and Drug Administration (FDA) Commissioner, Stephen Hahn, intends topermanently implementsome of the temporary regulatory flexibilities and policies the FDA developed for expediting COVID-19 treatments and tests.
• The FDA has now reversed its statement regarding how to clean and reuseN95 masks. They now say that sanitized masks should only be used if there is no access to approved N95 masks, and some N95 masks (made in China) should never be reused.
• The Centers for Medicare and Medicaid Services (CMS)updatedits website with recordings and transcripts of recent open door forums and other virtual stakeholder engagement events.

Economic Recovery

• The National Bureau of Economic Research (NBER) says the countryofficially entered a recession. However, the positive May jobs report and rising stock markets show the recession could be short-lived.
• The Congressional Budget Office (CBO)estimatesthat the federal deficit in May was $424 billion, which is substantially lower than April's $738 billion. The CBO also stated the deficit for the first eight months of FY 2020 was about $1.9 trillion, which is $1.2 trillion greater than the same period the previous year. The increased budget deficit is attributable to federal economic and healthcare relief legislation in response to the COVID-19 public health emergency.

Vaccines and Treatments

• The World Health Organization (WHO) says that people with COVID-19 who are asymptomatic arevery unlikelyto transmit the virus.
• The WHO is alsorecommendingthat people wear face masks in public to prevent the spread of the virus.
• AstraZeneca is using a cancer-treating drug,Calquence, as a treatment for 19 severe COVID-19 patients. The drug is not intended to cure COVID-19 or shorten recovery time. It is intended to treat severe COVID-19 symptoms such as a “cytokine storm.” Early results have been promising as 12 of the 19 patients were discharged.
• Anthony Fauci博士宣布那t aPhase 3 trialof the COVID-19 vaccine will start in July. Phase 3 trials are the final phase a potential vaccine must face before approval by the FDA.
• The FDA has administered anEmergency Use Authorization(EUA) for the use of a COVID-19 test developed by Genetron Health.
• A new study from Oxford University concluded that malaria drughydroxychloroquineis ineffective for treating COVID-19.

Congressional Hearings

• TheSenate Committee on Small Business and Entrepreneurshipis holding a hearing on Wednesday, June 10 at 10:00 a.m. to discuss the implementation of Title I of the CARES Act. This will provide relief to small business by helping to keep employees on the payroll.
• TheHouse Committee on Oversight and Reformis holding a hearing on Wednesday, June 10 at 12:00 p.m. to discuss supporting essential workers during the COVID-19 pandemic.
• TheHouse Committee on Veterans’ Affairsis holding a hearing on Thursday, June 11 at 2:00 p.m. to assess the VA’s response to COVID-19.

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