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A coronavirus surge tent outside an AdventHealth hospital in Florida. Photo: Paul Hennessy/NurPhoto via Getty Images

The health care industry, led by the American Hospital Association, asked Congress on Thursday for $100 billion to offset the expenses related to coronavirus testing and treatment.

The big picture: Other industries like airlines and hotels are asking for taxpayer bailouts as their operations grind to a halt. Hospitals and medical groups are asking for money as their operations prepare for a capacity overload.

What they're saying: "It is clear that the expenses associated with responding to COVID-19 will be extraordinary," the heads of the AHA, American Medical Association and American Nurses Association wrote to Congress, which is considering several stimulus packages.

  • The groups argue they need $100 billion to cover the lost revenue coming from delayed elective procedures, higher staffing and training costs, rising supply costs, child care needs for front-line health care workers, and creating extra capacity in other facilities.

Yes, but: Medicare, Medicaid and commercial insurers will still pay hospitals and doctors for all coronavirus care they provide. New billing codes also have been created.

Go deeper: The health care swamp has not been drained

Go deeper

Scoop: Former OMB director to set up Pro-Trump think tanks

OMB Director Russ Vought parfticipates in a photo-op for the printing of President Donald Trumps budget for Fiscal Year 2020 at the Government Publishing Office in Washington on Thursday, March 7, 2019. (Photo By Bill Clark/CQ Roll Call)

Russ Vought, who led Donald Trump's Office of Management and Budget, plans to announce two pro-Trump organizations Tuesday, aiming to provide the ideological ammunition to sustain Trump's political movement after his departure from the White House.

Why it matters: The Center for American Restoration and an advocacy arm, America Restoration Action, will try to keep cultural issues that animated Trump’s presidency on the public agenda, according to people familiar with the matter.

Janet Yellen confirmed as Treasury secretary

Janet Yellen. Photo: Alex Wong/Getty Images

The Senate voted 84-15 to confirm Janet Yellen as Treasury secretary on Monday.

Why it matters: Yellen is the first woman to serve as Treasury secretary, a Cabinet position that will be crucial in helping steer the country out of the pandemic-induced economic crisis.

Dan Primack, author of Pro Rata
4 hours ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.