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.
El-Sayed under fire online after taking aim at Usha Vance, female Trump aide in weekend social media posts
Karoline Leavitt reveals next role after leaving White House press secretary post
Alaska Republicans scramble to educate voters on suspected Dem plant as ‘ballot fatigue’ threatens race
Virginia Dem admits system ‘failure’ after illegal immigrant accused in landlord killing escapes to Tajikistan
Ford Adds Thousands of Jobs in United States as Move Away from China Continues
Report: Meghan and Harry’s Brazen Attempts – and Embarrassing Rejections – at Becoming US Political Operators
Nevada brush fire spreads to 10,500 acres as governor declares state of emergency
Christian Club Files Lawsuit After School District Blocks Volunteer Mentors
White House revs up ‘iconic’ Freedom 250 race as IndyCars prepare to unleash American muscle on DC streets
African Witchcraft, Blackmail, and American Boys: How Nigerians 6,000 Miles Away Are Killing US Teens
Minnesota Woman Sues Chipotle for Massive Sum Over Burrito Bowl
Florida couple allegedly held four children in tractor-trailer cab for nearly seven years
‘Barbaric’ abortion provision fuels Christian push to crack down on Dem governor
Nearly One-Third of Gen Z Steers Clear of Car Insurance, Survey Finds
Mixed support from black voters threatens el Sayed’s Michigan Senate hopes
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.
