Please ensure Javascript is enabled for purposes of website accessibility

House Democrats and White House Come Together for Coronavirus Aid Package

By Mark Prvulovic - Mar 13, 2020 at 11:16PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Both sides of the political aisle agreed that emergency measures need to be taken.

Friday was packed with COVID-19 news from Washington, D.C. Most notably, House Democrats managed to come together with the Trump administration to agree on a coronavirus aid package that will help Americans and the broader economy.

Among other things, the relief package would grant some Americans paid emergency leave and free COVID-19 testing. The bill, which is expected to be voted on Friday night, would move to the Senate for voting as early as Monday. While both parties agree that federal efforts are needed to help Americans, the details surrounding the bill were sorted out largely between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi over the past couple of days.

An American flag in front of the House of Representatives.

Image source: Getty Images.

"This legislation is about testing, testing, testing. To stop the spread of the virus, we have secured free coronavirus testing for everyone who needs a test, including the uninsured," Pelosi said. President Trump expressed his support for the bill on Friday evening, urging Republicans and Democrats to vote in favor of the legislation.

The U.S. declares national emergency

Earlier on Friday, Trump declared a state of national emergency in a news conference. The president emphasized the importance of improving the country's testing capabilities and stressed the importance of other areas of healthcare such as telehealth to prevent the further spread of COVID-19.

Healthcare stocks, for the most part, ended the day in the green, with many companies mentioned by Trump surging by double-digit percentages. Roche (RHHBY 0.72%) was one of these companies, with its COVID-19 test given emergency use authorization by the Food and Drug Administration (FDA). Roche shares shot up 13% over the course of the day.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Roche Holding AG Stock Quote
Roche Holding AG
$42.01 (0.72%) $0.30

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 07/01/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.