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 declares ‘national emergency,’ demands housing overhaul bill be scrapped in SAVE Act push
DEI Exec Fired After Getting Caught on Camera Allegedly Stealing at Knicks Championship Parade
Stephen A. Smith questions why activists are still defending Karmelo Anthony after guilty verdict
Bill Gates’ Epstein Testimony Released – Humiliating Revelations, Chilling Russian Connections
Trump admin unveils 11-foot-tall, AI-designed nuclear test flight vehicle at the Great American State Fair
Dems rattled after progressive wave sweeps New York primaries and more top headlines
Trump to kick off Great American State Fair as 250th anniversary celebrations take over National Mall
Blue state shield laws allowed 330K abortion pills to be sent to abortion ban states, pro-life group finds
Antifa leaders panic after DOJ pursues conspiracy charges against Minnesota operatives
Far-left surge: Mamdani-backed candidates oust Dem establishment incumbents
Paroled felon charged in deadly fire at New York homeless hotel that killed 6
DOJ charges 10 Southern California defendants in largest federal healthcare fraud crackdown in US history
Top Dem beats progressive who likened himself to Bernie Sanders in closely watched race
‘Party of Zohran’: Mamdani emerges as Democratic kingmaker after socialist allies sweep NYC primaries
Biden appointee crushes comeback bid by billionaire wine mogul David Trone
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.
