Government finance

FILE - In this March 28, 2018 file photo, former U.S. Sen. Tom Coburn speaks at a news conference in Oklahoma City. Coburn has died. He was 72. A cousin tells The Associated Press that he died early Saturday, March 28, 2020. Coburn had been diagnosed with prostate cancer years earlier. The Oklahoma Republican railed against federal earmarking and earned a reputation as a political maverick. (AP Photo/Sue Ogrocki, File)
March 28, 2020 - 3:10 pm
OKLAHOMA CITY (AP) — Former U.S. Sen. Tom Coburn was stubborn as a mule and conservative to his core. But the Oklahoma family doctor, known for railing against federal earmarks, didn’t let political differences dictate whom he called friends — even if it didn’t sit well with some of his supporters...
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FILE - In this Feb. 3, 2020, file photo, Sen. Pat Toomey, R-Pa., walks at the Capitol in Washington. The nation's fiercest fiscal conservatives are largely embracing the massive economic rescue package moving through Congress. In many cases, those conservatives who support the $2 trillion coronavirus spending bill are the very same who raged against the $800 billion economic stimulus package backed by the Obama administration after the 2008 financial crisis. (AP Photo/J. Scott Applewhite, File)
March 28, 2020 - 8:43 am
NEW YORK (AP) — Republicans who have spent the past decade howling about the danger of ballooning deficits embraced the coronavirus rescue package approved by Congress and signed by President Donald Trump, shrugging off past concerns about spending in the face of a public health crisis. In many...
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FILE - In this Tuesday, March 24, 2020 file photo, Gov. Andrew Cuomo speaks during a news conference against a backdrop of medical supplies at the Jacob Javits Center that will house a temporary hospital in response to the COVID-19 outbreak in New York. Cuomo, a Democrat, ripped the GOP-led Senate's version of the coronavirus package as "terrible" for New York and said, based on preliminary reports, that it would send the state some $4 billion in direct aid. (AP Photo/John Minchillo)
AP News
March 27, 2020 - 5:42 pm
The coronavirus is pounding state governments with a financial one-two punch, costing them millions to try to contain the disease just as businesses are shutting down and tax revenue is collapsing. The sharp drop in revenue could jeopardize some states' ability to provide basic services. States...
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FILE— In this Jan. 28, 2014 file photo a jar of ethanol fuel sits on display during the Iowa Renewable Fuels Association meeting in Altoona, Iowa. As hospitals and nursing homes run out of hand sanitizer to fight off the coronavirus, struggling ethanol producers are eager to help. They could provide alcohol to make millions of gallons of the germ-killing sanitizer, but the U.S. Food and Drug Administration has put up a roadblock, frustrating both the health care and ethanol industries with its inflexible regulations during a national health care crisis. (AP Photo/Charlie Neibergall, file)
March 26, 2020 - 6:36 pm
DES MOINES, Iowa (AP) — As hospitals and nursing homes desperately search for hand sanitizer amid the coronavirus outbreak, federal regulators are preventing ethanol producers from providing millions of gallons of alcohol that could be transformed into the germ-killing mixture. The U.S. Food and...
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FILE - In this Monday, March 2, 2020 file photo, Gilead Sciences CEO Daniel O'Day speaks at a meeting with President Donald Trump, members of the Coronavirus Task Force, and pharmaceutical executives in the Cabinet Room of the White House in Washington. Gilead, the pharmaceutical giant that makes remdesivir, a promising coronavirus drug, has registered it as a rare disease treatment with U.S. regulators on Monday, March 23, 2020, a status that can potentially be worth millions in tax breaks and competition-free sales. (AP Photo/Andrew Harnik)
March 24, 2020 - 9:11 pm
WASHINGTON (AP) — The pharmaceutical giant that makes a promising coronavirus drug has registered it as a rare disease treatment with U.S. regulators, a status that can potentially be worth millions in tax breaks and competition-free sales. What that specialty status will actually mean for the...
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FILE - In this Saturday, March 21, 2020 file photo, a lone pedestrian wearing a protective mask walks past the New York Stock Exchange as coronavirus concerns empty a typically bustling downtown area in New York. Stocks around the world swung lower Monday, March 23 even after the Federal Reserve announced a tidal wave of support for lending markets, going way beyond the “bazooka” it had already unloaded. (AP Photo/John Minchillo, File)
March 23, 2020 - 4:04 pm
NEW YORK (AP) — Stocks are ending another bumpy day broadly lower on Wall Street as investors wait to see if Democrats and Republicans can settle their differences on an economic rescue package. Major indexes ended down about 3% Monday, having been down as much as 5%. Earlier, markets got a bump...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference in Washington. The Federal Reserve says it will buy short-term loans from banks and companies to support the flow of credit as the economy grinds to a halt amid the viral outbreak. The Fed is reviving a program that it first used during the 2008 financial crisis to unclog a short-term lending market for what is known as “commercial paper.” (AP Photo/Jacquelyn Martin, File)
March 23, 2020 - 10:44 am
WASHINGTON (AP) — In its boldest effort to protect the U.S. economy from the coronavirus, the Federal Reserve says it will buy as much government debt as it deems necessary and will also begin lending to small and large businesses and local governments to help them weather the crisis. The Fed's...
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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs. The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak. (AP Photo/Jacquelyn Martin, File)
March 23, 2020 - 8:34 am
NEW YORK (AP) — The Latest on the action in the financial markets (all times local): U.S. stock futures are making a dramatic swing higher after the Federal Reserve announced it will lend to small and large businesses and local governments as well as extend its bond buying programs. Futures for the...
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FILE - In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the U.S, Federal Reserve System lies embedded in the floor at the Marriner S. Eccles Federal Reserve Board Building in Washington. The Federal Reserve announced late Wednesday, March 18, 2020, that it will establish an emergency lending facility to help unclog a short-term credit market that has been disrupted by the coronavirus outbreak. The Fed said it will lend money to banks that purchase financial assets from money market mutual funds, including short-term IOUs known as commercial paper. (AP Photo/Andrew Harnik, File)
March 20, 2020 - 6:50 pm
WASHINGTON (AP) — The Federal Reserve moved with unprecedented force and speed Friday to pump huge amounts of cash into the financial system to ease disruptions that have escalated since the viral outbreak. The New York Federal Reserve Bank said it will offer $1 trillion of overnight loans a day...
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This photo provided by the New York Stock Exchange shows trader Patrick Casey, left, and specialist Peter Mazza as they work on the trading floor on Friday, March 20, 2020. Stocks turned lower Friday after New York became the latest major state to mandate nearly all workers stay home to limit the spread of the new coronavirus. (Nicole Pereira/NYSE via AP)
March 20, 2020 - 5:13 pm
Wall Street ended the week the same way it began: in full retreat from the coronavirus. Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of the outbreak. The...
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