Broker Check

DECLARING A NATIONAL EMERGENCY

| March 13, 2020
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When the federal government finally declares a National Emergency, which they are going to do (later today, if not already by the time you are reading this), it won't necessarily be any more of an emergency that it has already been all along. Do not think all that much has changed since last week or even possibly the week before. The Coronavirus, COVID-19 itself, hasn't changed. This virus was always going to spread, barring severe prevention measures which we, as well as other countries, have failed to initiate until too late.

So don't panic, and don't assume the virus itself has gotten any worse. The actual purpose of declaring this a "National Emergency", is because it allows states "...to request a 75% federal cost-share for expenses that include emergency workers, medical tests, medical supplies, vaccinations, security for medical facilities, and more..." according to a letter sent to President Trump earlier this week.

So... the purpose of this post is just to let you know the "National Emergency" declaration doesn't mean the actual situation has changed nearly as much as it means the Federal government is recognizing states are going to need financial help, and this is one way to help them get what they need.

If you have any questions, or, if you're a client and want to discuss your portfolio or anything else, please feel free to call or write.

David S. Chorney

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