White House backs total $2.5 billion to fight coronavirus

WASHINGTON (AP) — The White House on Monday sent lawmakers an urgent $2.5 billion plan to address the deadly coronavirus outbreak, whose rapid spread and threat to the global economy rocked financial markets.

The White House budget office said the funds are for vaccines, treatment and protective equipment. The request was immediately slammed by Democrats as insufficient and came as coronavirus fears were credited with Monday’s 1,000-plus point drop in the Dow Jones Industrial Average and are increasingly seen as a potential political threat to President Donald Trump.

The request was released Monday evening and came as key government accounts were running low. The Department of Health and Human Services had already tapped into an emergency infectious disease rapid response fund and was seeking to transfer more than $130 million from other HHS accounts to combat the virus but is pressing for more.

“Today, the Administration is transmitting to Congress a $2.5 billion supplemental funding plan to accelerate vaccine development, support preparedness and response activities and to procure much needed equipment and supplies,” said White House budget office spokeswoman Rachel Semmel. “We are also freeing up existing resources and allowing for greater flexibilities for response activities.”

The administration is requesting $1.25 billion in new funding and wants to transfer $535 million more in funding from an Ebola preparedness account that’s been a top priority of Democrats. It anticipates shifting money from other HHS accounts and other agencies to complete the $2.5 billion response plan.