Trump's $1B coronavirus spending request expected
The Trump administration is expected to ask for at least $1 billion in supplemental spending to fend off the spreading coronavirus, a senior congressional source familiar with the request told FOX Business on Monday.
Initially, insiders on Capitol Hill said the request would be for $1 billion, but sources told FOX Business’ Blake Burman that some within the administration are pushing for more money.
The senior congressional source confirmed the administration is working on ironing out disagreements over whether to ask Congress for what they feel like they need right away – or more.
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While the White House is not trying to cause alarm over the new funding request, according to the source, supplemental spending bills are typically used for war and natural disasters.
The bill could be sent to Capitol Hill by tomorrow, and the funds would allow the government to prepare and respond to the coronavirus and advance vaccine development.
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White House trade adviser Peter Navarro told FOX Business’ Charles Payne on Monday the Trump administration is already working with four companies on a vaccine, which could be finalized in half the time it normally takes for a vaccine to be developed.
U.S. stocks were trading lower on Monday on fears the spreading disease could have economic fallout due to its impact on the global supply chain. South Korea, Iran and Italy all reported new confirmed cases.
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FOX Business’ Blake Burman and Fox News’ Chad Pergram contributed to this report.
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