CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, Moody's Analytics Chief Economist Mark Zandi joins 'After Hours' to explain how the trillions of dollars of fiscal stimulus have helped keep the economy going during the coronavirus pandemic. Plus, CNBC's Robert Frank breaks down the real estate boom in Lake Tahoe as tech employees flee San Francisco.
Senate Republicans' release of a coronavirus relief package Monday only started the thorny process of Congress crafting a bill to try to blunt the economic damage from the pandemic.
Now, GOP leaders and White House officials have to bridge a gulf between their priorities and the goals of top Democrats during talks in the coming days. While Congress will rush to strike a deal, leaders are not giving firm deadlines for when they aim to agree to and pass legislation.
Billionaire philanthropist Bill Gates said therapeutic drugs to treat the coronavirus could reduce the death rate substantially this year but a vaccine will be crucial to bringing back a sense of normalcy to the society.
"You can see the therapeutic benefit faster than the protective benefit," Gates said in an interview that aired Tuesday on CNBC's "Squawk Box." "So I think there's a good chance we'll have substantial death-rate reduction by the end of the year with the combination of those new tools."
Google employees can continue to work from home until July 2021, making it the first major tech company to extend its remote-work arrangement into next summer in response to the global coronavirus pandemic.
In an email to employees Monday morning, Google CEO Sundar Pichai wrote: "To give employees the ability to plan ahead, we are extending our global voluntary work from home option through June 30, 2021 for roles that don't need to be in the office."
The announcement extends the company's previous arrangement that workers would return to offices by January 2021.