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As a result of Congress’s swift legislative action and Treasury’s and the Federal Reserve’s work to implement these programs, we have been successful in restoring confidence in financial conditions, it is my hope that, because of our responsible use of these authorities in a manner consistent with Congressional intent, Congress will show similar trust in Treasury and Federal Reserve leadership in the future.
I will confirm we did get a proposal over the weekend that includes Oracle as the trusted technology, partner with Oracle making many representations for national security issues, we'll be reviewing that at the CFIUS Committee this week and then we'll be making a recommendation to the President and reviewing it with him.
It's one of the things that we're considering on the list, i want to thank the Senate and the House for having acted very quickly in an emergency basis. We now have over $ 3 trillion we're putting into the economy. A lot of that money is just beginning to get into the economy. We're working with the Federal Reserve on close to another $ 3 trillion of facility and liquidities. These are all beginning to have a very positive impact.
I don't expect that this will have any ramifications on Phase 1. Based on everything that we know, and where the virus is now, I don't expect that it's going to be material, obviously that could change as the situation develops. Within the next few more weeks, we'll all have a better assessment as there's more data around the rate of the virus spreading.
When we talk about the EU, one of the challenges is some of these issues are really only a couple of countries, but I think, as you know, because of the EU we can't negotiate these things on a bilateral basis, one of the challenges of dealing with the EU is even within the EU they have different views.
Today the Treasury Department is targeting the unelected officials who surround Irans Supreme Leader, Ayatollah Khamenei, and implement his destabilizing policies, these individuals are linked to a wide range of malign behaviors by the regime, including bombings of the U.S. Marine Barracks in Beirut in 1983 and the Argentine Israelite Mutual Association in 1994, as well as torture, extrajudicial killingsand repression of civilians.
If you look at Amazon, although they're certain benefits to it, they've destroyed the retail industry across the United States, i don't have an opinion other than I think it's absolutely right the attorney general is looking into these issues and I look forward to listening to his recommendations to the president.
They were trying to go back on language that had been previously negotiated, very clear language, that had the potential of changing the deal dramatically, the entire economic team ... are completely unified and recommended to the president to move forward with tariffs if we are not able to conclude a deal by the end of the week.
As part of the historic Tax Cuts and Jobs Act, this Administration committed to making taxes simple and fair for American families. We are delivering on this promise, the new, postcard-size Form 1040 is designed to simplify and expedite filing tax returns, providing much-needed relief to hardworking taxpayers.
We are also very focused on free and fair trade for U.S. companies to have access there and to having a more level playing field which will bring down the trade deficit, i don't think it would be productive to speculate on the outcome because we have a lot of work left to do. ... If we can't get to the deadline, that's not because we haven't worked around the clock.
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