Senators reach $10 billion Covid funding deal for therapeutics, vaccines and testing

Senators reach  billion Covid funding deal for therapeutics, vaccines and testing


U.S. Senator Mitt Romney (R-UT) speaks during a Senate Health, Education, Labor, and Pensions Committee hearing to examine the federal response to the coronavirus disease (COVID-19) and new emerging variants at Capitol Hill in Washington, D.C., January 11, 2022.

Greg Nash | Pool | Reuters

Senate Republicans and Democrats reached a deal Monday on $10 billion in additional Covid funding to buy therapeutics and vaccines and maintain the nation’s testing capacity if another Covid wave hits the U.S.

The legislation earmarks at least $5 billion to purchase and develop Covid treatments such as antiviral pills. Another $750 million is set aside to develop vaccines that target specific variants and to expand vaccine manufacturing capacity in the U.S. if needed.

The funding is less than half the $22.5 billion that President Joe Biden first requested. The deal does not include money to support the administration’s efforts to increase vaccinations around the world.

White House press secretary Jen Psaki said every dollar the administration requested is essential, and noted that the White House will work to get Congress to pass more aid. However, Psaki said time is of the essence, and urged lawmakers to swiftly pass the $10 billion.

“We urge Congress to move promptly on this $10 billion package because it can begin to fund the most immediate needs, as we currently run the risk of not having some critical tools like treatments and tests starting in May and June,” Psaki said.

Congress has fumbled Covid funding as the White House warned that the U.S. would not have enough money to ensure all Americans have access to vaccines in the fall without new aid. House Democrats originally sought to pass $15 billion in Covid funding last month, but Republicans insisted on redirecting money already appropriated for state and local governments to cover any new spending. Negotiations moved to the Senate after the House failed to reach a bipartisan agreement.

Sen. Mitt Romney, R-Utah, said the $10 billion is fully paid for by repurposing unspent Covid funds from the Agriculture, Education, Treasury and Transportation Departments as well as the Small Business Administration.

Senate Majority Leader Chuck Schumer, D-N.Y., said he was disappointed the legislation does not include money to support the Biden administration’s efforts to increase vaccinations around the world. Schumer said the initiative is crucial to prevent the emergence of a breakthrough Covid variant that can evade the protection provided by the current shots.

Schumer and Romney said they were willing to work together on a supplemental international Covid aid package later this spring.

CNBC Health & Science

Read CNBC’s latest global coverage of the Covid pandemic:



Source

The Chinese box office isn’t the Hollywood kingmaker it used to be. Here’s why
Business

The Chinese box office isn’t the Hollywood kingmaker it used to be. Here’s why

Posters of films are on display at a cinema in Shanghai, Aug. 31, 2025. Vcg | Visual China Group | Getty Images Hollywood has lost one of its most lucrative theatrical markets. It’s unclear if it will ever win it back. The Chinese box office was once a coveted space for American-made movies, so much […]

Read More
The cost to fly private is up as much as 20% with fuel prices soaring
Business

The cost to fly private is up as much as 20% with fuel prices soaring

A Gulfstream G-IV private jet on approach to Washington’s Reagan National Airport in Arlington, Virginia, June 12, 2024. J. David Ake | Getty Images As the Iran war pushes jet fuel prices higher, well-heeled travelers are facing hefty surcharges to fly private, sometimes on flights booked months prior, charter brokers and aviation insiders told CNBC. […]

Read More
United unveils basic Polaris business fare in premium cabin overhaul
Business

United unveils basic Polaris business fare in premium cabin overhaul

United Airlines new Polaris seat on one of its Boeing 787 Dreamliners Leslie Josephs/CNBC Does it matter where you sit if you’re sipping Champagne in first class? United Airlines is betting that for some travelers looking for luxury at a discount, it doesn’t. The carrier is launching new, cheaper tiers for its top-end Polaris and […]

Read More