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: Supreme Court Sides with Trump on White House Ball Room Construction
NY Knicks Owner Turns Against Kathy Hochul, Gives Big to Republican Opponent
ICC president decries being sanctioned by US: ‘Demise of international rule of law’
Appeals court upholds Letitia James subpoena block as DOJ vows to appeal to Supreme Court
Trump to transform spaceflight from spectacle to status quo targeting 3 launches per day
Revealed: The ‘Gentlemen’s Agreement’ That Kept Devastating Karmelo Anthony Evidence Out of Court and What that Evidence Was
Surprise election upset shows hating Trump is no longer enough as Democratic voters turn to new playbook
Surrogate Mom and Baby Flee to TX for Protection as Bio Parents Sue Her for Refusing to Abort Baby
Karmelo Anthony fights for new trial as lawyers clash over unwritten deal that shaped case
Top JPMorganChase exec warns regulatory proposal could squeeze credit for millions of small businesses
AOC blasted as too moderate by Maoist DSA faction as 2028 buzz grows
Trump reaches deal to halt tariffs on beef for 90 days in bid to lower prices
Videos show three suspects in shooting death of Tucson police recruit Carlos Ramirez
Watch: Latest Physical Attack on Caitlin Clark Is So Outrageous Commentator Uses Football Term to Describe It
Professor Who Flagged Jason Arday Cambridge Cheating Scandal Suspended: ‘They Will Almost Certainly Fire Me’
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.
