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: Kimmel Booted from Air Over Kirk Comments, ABC to ‘Replace the Show with Other Programming’
Alert: Multiple Officers Down in PA Shooting, Mexican Consulate Issues Strange Message Immediately After
ABC pulls Jimmy Kimmel indefinitely following Charlie Kirk comments
Fox News Politics Newsletter: Kash clashes with the Senate
Cruz doubles down against groups funding Charlie Kirk protests; FBI director backs bill during hearing
Pastor: Charlie Kirk’s graphic death was ‘traumatic’ as many Americans reconcile with loss
The Hitchhiker’s Guide to the gambits to avoid a government shutdown over the next few days
Federal Reserve Finally Cuts Interest Rates, Signals It’s Just the Beginning
Charlie Kirk Told Off Donors Who Wanted Him to ‘Keep the Jesus Stuff Out of It,’ Mentor Reveals
Multiple officers involved in Pennsylvania shooting as governor rushes to York County scene
Menendez brothers’ bid for new trial rejected as killer slams judge’s decision as ‘mental gymnastics’
UK government left impotent by courts blocking deportation of illegal migrants
Incredible Reagan campaign relic for sale: $235,000
Newsom dials the rhetoric back up: ‘We’ll lose this democracy’
FLASHBACK: Mamdani labeled Kirk a ‘far-right extremist’ who should be canceled from speaking in NYC
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.