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.
Ilhan Omar Tries to Talk Tough in Response to DHS Raid, But One Glaring Detail Betrays Her Cowardice
Keep Paying Up to 27% – Or Take Two Minutes to Check If You Qualify for 0%
Hackers target refrigerators at French supermarkets, overheating them and causing fires
Ilhan Omar says she will ‘not be silenced’ following raid on Washington home
Biden-appointed judge with history of fiery Trump clashes erupts at DOJ: ‘You’ve lost all credibility!’
AIPAC takes another shot at el Sayed and hands Rogers a political gamble in Michigan Senate race
Republican lawmakers break with Trump on diesel deal with Russia
Federal agents conduct predawn search of Ilhan Omar’s home in Washington
Watch: Talarico Said He Went to Urgent Care, Now Says He Went to His Doctor 200 Miles Away – What Do We Know?
Big GOP Midterm News: Polling in 9 Key Senate Races Shows GOP Candidates Leading
Democrats see new chances to flip red states — but a $400M GOP spending advantage could derail their plans
SC Dem Senate candidate claims she will stand up to her party as Graham ties her to ‘socialist Democrats’
Pennsylvania gunman who killed 8 was grandfather who seemed normal, victim relatives say
Immigration enforcement officials search Ilhan Omar’s home in pre-dawn raid
Trump’s backyard is quietly transforming into ‘Silicon Valley South’ as wealthy Americans flock in
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.
