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 says US, Israel shattered Iranian military capabilities, presses leaders to surrender: ‘Cry uncle’
Armed Officers Rushed Onboard Flight Forced to Land with Guns Drawn After ‘Security Scare’
Flashback: 11 Years Ago Marco Rubio Correctly Predicted How Obama’s Iran Move Would Backfire
Iran still striking Gulf States despite president’s promise not to: Report
Trump tells Starmer aircraft carriers no longer needed in Mideast, accuses him of joining war US ‘already won’
Arizona governor vetoes Charlie Kirk memorial license plate sparking GOP outrage: ‘This bill falls short’
NYC Mayor Mamdani’s wife liked social media post calling Oct 7 sexual violence investigation a ‘hoax’: report
Noem thanks Trump for new Shield of the Americas special envoy role after DHS ouster
Trump and first lady attend dignified transfer for 6 US troops killed in Kuwait
Supreme Court Will Hear Lawsuit Over Blaming Oil Companies for Climate Change
White House’s bombastic Iran war media blitz breaks from precedent, shocking critics
Farage slams British prime minister for ‘extraordinary’ lack of support for Trump’s Iran strikes
‘Smarter Than Most of You!’: Biden Launches Bizarre Defense of His Stuttering at Jesse Jackson Memorial Service
Trump Warns ‘Loser of the Middle East’ Iran That ‘Complete Destruction and Certain Death’ Is Imminent
FBI captures Bangladeshi fugitive extradited in massive online child sextortion case
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.
