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.
Five countries in Latin America have elected pro-Trump governments since his election
Bar complaint accuses Biden-appointed district judge of dishonesty during DOJ tenure
Lawmakers press Eli Lilly for China drug trials tied to military-linked hospitals
Dems join Republicans to crush Tlaib’s war powers resolution in lopsided House vote
Trump Floats Plan to ‘Reverse Birthright Citizenship’ in Spite of the Supreme Court
MKUltra hearing turns into intense grilling of NIH researcher about the origins of COVID-19
NPR Retracts Bombshell Story About Supreme Court Justice Retiring
Shock poll: Talarico ties Paxton in Texas Senate race, threatening GOP stronghold
GOP infighting over Trump’s voter ID bill erupts as top senator calls strategy ‘fantasy’
CA Neighbors Furious as Alleged Anti-Trump HOA Gets Ultimate Revenge in Lead Up to July 4
Priceless Video: ICE Guards Have to Protect Rioters from Female Employee Raging After They Hit Her Car
Taylor Swift, Travis Kelce reported MSG wedding plans call for 1,000 guests, street closure at MSG: source
Heartbroken father blasts ‘broken’ system that let family massacre take his children before they could reunite
MS Now’s Longest-Running Anchor Is Out As Struggling Network Pivots to More Reliance on Podcasts
House GOP’s SAVE Act rescue plan hits resistance from conservative holdouts
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.
