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.
Clinton judge orders DOJ to unseal the Epstein files it has been keeping hidden
Pilot Teams Up with Daughter on His Final Flight for Southwest
Luigi Mangione’s team fires back at plea deal report, calls leaks threat to fair trial
Small plane crashes into Beijing’s tallest building
John Bolton pleads guilty to one count of mishandling classified information
White House condemns ‘targeted sabotage’ of reflecting pool as repairs pushed past July 4 celebration
Charlie Kirk judge to rule on Tyler Robinson’s attempt to have potential death penalty removed
Politico: Dems Patriotism Problems So Bad They Have Issues Rooting for US World Cup Success
John Bolton Set to Take Plea Deal: Report
WATCH: AOC lashes out at Trump for ‘betrayal’ of voters after key SCOTUS immigration rulings
WATCH: Kellyanne Conway insists socialist primary victories don’t reflect American values nationwide
Trump nominates Chris Klomp for HHS deputy secretary, calls him ‘a potential STAR’
Muslim Mamdani-backed socialist primary winner suggested America deserved 9/11 in unearthed video
Democrats ditch the ‘Valleycrat’ playbook in bid to topple California GOP congressman
Illegal immigrant gets eight year prison sentence for $89 million payroll tax fraud scheme
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.
