President Donald Trump and Congress reached a deal on the terms for a $2 trillion emergency relief bill to address the economic impact of the ongoing coronavirus outbreak, early in the morning on Wednesday.
Politico reported:
Lawmakers and the Trump administration reached an agreement on a nearly $2 trillion coronavirus emergency rescue package, a move intended to assist businesses and millions of Americans amid an unprecedented halt in the economy.
The announcement caps five days of tense negotiations between senators and the White House. Both the Senate and House still need to approve the bill before sending it to President Donald Trump for his signature.
The president had sounded an optimistic tone in his briefing for reporters at the White House on Tuesday evening, though Republicans had been scathing in their criticism of Democrats for blocking Senate passage of a relief bill that had been agreed to by the two parties on Sunday.
Breaking: Marjorie Taylor Greene to Resign from Congress Following Trump Feud
Florida to use hundreds of confiscated Chinese drones as target practice for US military
‘Just say yes’: Trump cuts in as NYC mayor-elect Mamdani dodges on calling him a ‘fascist’ at Oval Office
Missouri judge who wore Elvis wigs in courtroom agrees to resign after ‘integrity’ concerns
Watch: CNBC Anchor Crushes Spiraling Hakeem Jeffries with Perfectly Timed Eye Roll
Dem House hopeful exposed as far-left activist pushing to abolish police weeks before special election
Embattled Rep. Eric Swalwell Announces Run for California Governor
State Department orders diplomats to pressure Western nations to end ‘mass migration’
Trump trades in attacks for praise as he hosts Mamdani in remarkably respectful Oval Office meeting
Trump reveals ‘one thing in common’ he has with Mamdani after Oval Office love fest
Sen. John Fetterman accuses Trump of ‘dangerous rhetoric’
Horrific: Woman Confesses to Brutal Murder of Child, 3 – Worst Part Comes When Cops Look in His Ear
History Professor Issues Warning After Watching First Few Minutes of Ken Burns’ New Revolutionary War Docuseries
DOJ Announces Charges Against 3 Chinese Men Accused of Trying to Smuggle Nvidia Chips Out of U.S.
Watchdogs seek unredacted Maryland records for ex-Des Moines superintendent arrested by ICE
Speaker of the House Nancy Pelosi (D-CA) had introduced her own version of a relief bill on Monday afternoon, loaded with pork for Democrat special interests and with demands to restructure the voting system to suit her party’s preferences.
Senate Minority Leader Chuck Schumer (D-NY) described the terms of the new deal as including “unemployment compensation on steroids” that would reimburse laid-off workers for their lost salaries, and guarantee furloughed workers their full benefits so that businesses could re-open when the coronavirus crisis was over.
There were also provisions for supporting small business, and for a special inspector general to oversee the administration of funds.
A vote must be taken in both houses before the president can sign the legislation. The Senate will reconvene at 12:00 p.m. on Wednesday.
The Dow Jones Industrial Average rose more than 2,000 points on Tuesday — its largest gain in percentage terms since 1933 — on expectations of a deal, and after statements by the president that the economy might slowly re-open by Easter.
Story cited here.
