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: FBI Foils Los Angeles Terror Plot – Pro-Palestinian Suspects Jailed
Brown University Victim Identified as Leader of School’s College Republicans Group
House Republicans allege DC police downgraded crime classifications to manipulate statistics
Democrats press hard on Epstein files after years of sporadic interest under Biden
Police to Release Person of Interest in Brown University Shooting as Evidence Points in Different Direction
Illegal Indian Truck Driver Accused of Killing American Has Been Released from Jail Despite Vehicular Homicide Charges
Brown University shooting victim identified as Ella Cook: ‘An incredible light’
What we know so far about the Brown University shooting
Australia moves to tighten gun laws after Bondi Beach Hanukkah shooting
Person of interest in Brown University shooting released
Biden officials go silent when asked about Afghan refugee program after guardsmen shooting
American Troops Ambushed in Syria, Two Soldiers Killed During Anti-ISIS Operation
Massive Medicaid fraud scheme puts Minnesota’s federal funding at risk — and fallout could widen
‘GavOUT’: Rapper Nicki Minaj Savages Gavin Newsom Over His Wanting to See ‘Trans Kids’
Breaking Report: Hollywood Legend Rob Reiner, Wife Michele Have Been Killed by Their Son Nick
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.
