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Capito, Manchin Support Stimulus Package

PARKERSBURG — The coronavirus’ impact on the markets and retirement savings is worrisome for people, too, according to a U.S. senator from West Virginia.

“That is a huge source of concern for a lot of West Virginians,” said Sen. Shelley Moore Capito, R-W.Va.

The stock market plummet, which has erased the gains made since President Donald Trump took office, is fueled by the international pandemic of the COVID-19 coronavirus and the adverse affect on the economy from precautions taken to slow the spread of the virus and protect the people’s health.

Besides an initial aid package, Congress and the White House are discussing additional ways to invigorate the economy, restore confidence and aid the stock market, including direct cash payments to Americans.

A second emergency appropriation was passed by the Senate on a 90-8 vote that now goes to the president for his signature. Both Capito and Sen. Joe Manchin, D-W.Va., voted in favor of the bill.

The bill provides paid sick and family leave workers affected by the virus, employment assistance and more money for testing. It also provides for free coronavirus testing, expanded unemployment benefits and nutrition help for seniors, low-income families and children, Manchin said.

“But it is not enough. I am committed to working with my colleagues on both sides of the aisle to quickly draft and pass an additional relief package to provide additional financial security to families across our country who are uncertain what the future holds for them right now,” Manchin said in a statement. “I encourage my colleagues to put partisan politics aside and get back to work immediately.

Phase 3 is more economic in nature, including aid to provide sick leave, more money for testing, more money for unemployment and funds to the Small Business Administration for loans and other aid, she said.

“Trying to get money back into the pockets of hard-working Americans,” Capito said.

The third phase of relief will deal with the financial issues impacting people, according to Capito. For example, discussions include direct payment of $1,000 or two weeks of pay, which doesn’t sound like much, “but it will put money into the economy, Capito said.

“I’m not sure where we’re going to settle on this,” Capito told reporters in a telephone press conference on Wednesday.

Helping people suffering losses in their retirement accounts will be part of the discussion, too, among other things, she said.

“I think you’re going to see more and more things come out,” Capito said.

West Virginia received more than $5 million from the first aid package that was worth $8.3 billion, Capito said. The second phase dealt with testing, health supplies and workers and aid to small businesses, she said.

“These are not partisan issues,” Capito said. “We need an American response.”

West Virginia’s first case of the virus, a resident from the Eastern Panhandle, was confirmed on Tuesday evening by Gov. Jim Justice. James Vigil is home recuperating and his wife Carolyn was tested on Wednesday.

Testing capabilities for the virus in West Virginia will expand by the end of the week, Capito said. More hospitals will be able to run tests, she said.

“I think you’ll see the numbers really jump by Friday.”

The senator said she has been in contact with federal and state authorities, including Secretary Bill Crouch of the West Virginia Department of Health and Human Services. An emergency shipment of testing supplies, of which the state is running low of, is on its way to West Virginia, she said.

“He didn’t give me a number of those, but he felt it would be sufficient,” she said.

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