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.
Trump-backed candidates score major boost from deep-pocketed AI Super PAC in upcoming primaries
Trump flexes MAGA muscle in Texas Senate runoff clash between Cornyn and Paxton
Skydiver dies after midair collision with another jumper during group jump in Washington state
Dog accidentally fires shotgun, striking woman yards away during chaotic gas station stop
Maine Senate candidate Graham Platner embraces democratic socialism at Bernie Sanders rally in Portland
Jacob Frey criticized for remembering George Floyd on Memorial Day, six years after death sparked riots
Widow of ‘American Sniper’ Chris Kyle Hits Back Against Dem Senate Candidate for ‘Making Things Up’
Watch: Trump Sums Up Memorial Day Better and Quicker Than Any President in Living Memory – Just 9 Words
President Trump Explains Importance of Memorial Day in Rousing Speech: ‘The Ultimate Sacrifice’
Dem City Gave Muslim Group $35k and Didn’t Track How It Was Spent
Anti-ICE protesters clash with agents outside New Jersey detention center as Gov Sherrill denied entry
Lawmaker Convicted Under ‘Crimes Against Humanity’ Law for Writing Pro-Marriage Pamphlet
Stomach Churning: Paragliding Woman Videos Herself Plummeting After Mid-Air Crash With Plane
Hero Vet Whom Graham Platner Said Didn’t Deserve to Live Unleashes Tactical Brilliance, Leaves Dems in Painful Dilemma
DNC Finally Releases 2024 Election Autopsy Containing Conclusions Sure to Cause Party Division
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.
