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.
Judge denies Tyler Robinson secrecy request and orders hearing on prosecutors’ statements
Marine combat veteran bets big on Hispanic outreach in bid to flip Dem-held House seat
Video: Panicking Anti-ICE ‘Medic’ Is Almost in Tears Begging Rioters to Leave as NJ State Police Roll in the Big Guns
Teenage Barrel Racing Competitor Arrested After Horse-Stabbing Rampage
British diplomats were driven insane trying to find very specific gift for Trump, tranche of emails reveals
Mamdami marks Pride Month, says honoring ‘queer and transgender’ contributions would take more than 30 days
Pro-Gun Organizations Slap Virginia With Complaint Alleging Virginia Defied Court Orders on Gun Control
Chemical Tank Disaster Victim Remains are Found
Fourth US drug boat strike in a week kills more ‘narco-terrorists’
Fight for Los Angeles mayor tightens up as Karen Bass, Spencer Pratt, and Nithya Raman make final pitch
Trump flips script on left, maneuvers to use foreign influence law against the them
US military attacks Iran in ‘self-defense strikes’ over the weekend and more top headlines
Dem Mayor Offers Support to ‘Trans Period’ Event Featuring Free Undies
California GOP incumbents go to war in Trump loyalty test
Dem Gov Gets Rare Conservative Credit, Then Blows It With Embarrassing Victim Routine
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.
