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.
Appeals judge seems skeptical of sentence for pro-Trump Colorado clerk Tina Peters
Obama wingman Eric Holder defended Walz’s vetting — then Minnesota’s fraud scandal erupted
Fox News Host Confronts Minneapolis Mayor to His Face on Dangerous ICE Rhetoric: ‘Here’s the Little Secret’
Cynthia Lummis endorses Hageman for Wyoming Senate seat
CDC urged by senators to combat ‘rapid rise’ in youth sports gambling
Trump’s Economy Just Took a Wrecking Ball to Biden’s ‘Mom Has to Work 3 Jobs’ Nightmare
Democrats request over $30 million for pro-LGBT United Nations agency in appropriations bill
Federal court clears California’s new House map boosting Democrats ahead of 2026 midterms
Protesters clash with federal officers after another ICE shooting in Minneapolis
Hochul endorses legislation to allow New Yorkers to sue ICE agents: ‘Power does not justify abuse’
Mamdani housing czar called ‘White, middle-class homeowners’ a ‘huge problem’ during 2021 podcast appearance
Parents erupt into massive brawl during Catholic youth basketball game in Staten Island
ICE agent shoots Venezuelan national in Minneapolis after shovel attack during ambush: DHS
Taxpayer-funded Minnesota charter school shuts down in-person learning amid ICE raids
Top federal Minnesota prosecutors officially terminated after dispute over ICE shooting probe
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.
