Todays hearing on had committee of Small Business and entrepreneurship will come to order, and i want to thank everyone for joining us here today. I want to thank you both for being here though far away. And all the members for being here today. This is our first opportunity to hear from both of you about the enactment of the cares act in particular as it applies to Small Business. The cares act is landmark legislation. In less than 2 Weeks Congress passed the largest Economic Relief package in our nations history. And now after the passage of two further reforms the Paycheck Protection Program is the largest component of the Economic Relief enact by the cares act. Opthat point i just want to say a couple of things. First of all, it was the extraordinary work of many people, staff, of course worked tirelessly to make this possible. The partnership we had from both the sba and the treasury was extraordinary. Members on this committee, every single one participated. Obviously the leaders
This webinar will have a straightforward format after my introduction he will offer 10 minutes or so of remarks, then i will have questions for the senator and we will have a discussion about the economic challenges facing our nation and what congress should do to address them. We will take a couple of questions at the end. Thank you for joining us. If you have a question for senator rubio, submit it by email. Econtalk on aei twitter. Those are listed on the events web page. I am honored to be joined by senator rubio, thank you for being here. Senator marco rubio is the senator from florida, served in local state government, including as speaker of the Florida House before being elected to the senate in 2010 and reelected in 2016. He serves on the Senate Committee of appropriations, the Foreign Relations committee, the special committee on aging as acting chair of the select committee on intelligence, and most important to our discussion is chairman of the Senate Committee on Small Bus
Seating has been spaced so we are six feet apart and we have made it possible for senators and witnesses to participate by Video Conference if they choose to do so, and several have. To maintain social distancing, we have very limited seating and dont have room formulas of the public to attend, however this hearing is available to watch a live online and a recording will be available on the committee health. Www. Senate. Gov. The hearing will be shown from gaveltogavel in its entirety, unedited by anyone from the moment that we start until the very end that we stop. Due to the limited seating, representatives of the press are working as a pool to relay observations to their colleagues and senators and staff present have been reminded about the safety guidelines put in place by the attending physician. We all wore our masks. Im not going to wear mine during the hearing, since we are six feet apart, but senators may do whatever they choose to do. I would like to thank the rules committee
The new world and is stored with low economic data, wall street reversing in just the last hour, we have been down in some cases triple digits but now we have the Dow Jones Industrials just down about six points, s p down to, the nasdaq has punched into positive territory. What is this mean, market legend mohammed is about to tell you if he thinks the worst for the market has finally passed. Plus ill go oneonone with Energy Secretary, just as oil pushes back about 29 per barrel. We mentioned nascar, nascar about to drop the green flag once again this weekend, nascar president is here as engines begin to rub when nascar becomes the first major sport to get back to action since the Coronavirus Crisis began. But what will change prewe will tell you. Even the april retail spending collapse, there is one piece of clothing that saw a triple digit jump in sales, with an allstar lineup this friday on less than one hour to the closing bell, lets start the claman countdown. Liz breaking news, Ho
Keep their employees on staff, lenders were met with error messages and a frozen sba site. Former ubs america chairman and ceo robert wolf on how both banks and the government can salvage the reputational damage. We will get some numbers and bring them to you and of course, the president as well. We are one hour away from starbucks first, as we are calling it, covid Quarterly Earnings report. Board member clara shy on what investors can learn from starbucks china reopening plus how her company that she runs is helping major businesses, publicly traded companies, fix their biggest problem of the coronavirus crisis. Slow Response Time for their customers. And imax stock thrilling investors in this final hour. And charlie breaks it on who is breathing down banks necks now. Less than an hour to the closing bell, lets start the claman countdown. Liz all right. Breaking news. As i mentioned, we are waiting for the president to speak but we just got an important number, sort of a subset of nu