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.
Florida man who contacted police about 1987 killing arrested in connection to cold case
Dramatic bodycam video captures NYPD officer rescuing woman from top of Brooklyn Bridge after emotional plea
Eight indicted over plan to attack White House UFC fight with drones and snipers
Israel shares intelligence warning Iran plotted new assassination attempt against Trump: report
Bank of America and JPMorgan Chase Consider Teaming Up for Scheme to Extract Higher Card Transaction Fees
Robinson’s Alleged Kirk Assassination Rifle and Chilling Messages on Bullet Casings Shown in Court
DHS plans costly crackdown on states that don’t cooperate on election security
Damning Tyler Robinson letter accidentally flashed during Charlie Kirk murder hearing
White House drapes tarps while completing Trump’s newest construction project
Disturbing Video: Texas Cop Tells Preacher She Is Going to Ticket Him for Speech That Offends ‘Pride’ Event Goers
Incredible Video: Hero NYPD Officer Rescues Distressed Woman from Jumping Off Brooklyn Bridge
Unearthed records reveal Dem mayor sought tax hike to fund DEI role ahead of key House race
Communist Door Dasher Admits Stealing Food from DHS Orders, Gets Fired After Freaking Out When Company Dared Confront Her
Teacher Sentenced Over Lewd Relationship with Middle School Student She Professed to Love
Black bear raiding a garbage can at Lake Tahoe garage triggers dramatic wildlife encounter
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.
