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.
Rubio confirms ‘foreign actor’ involved in UK terror plot
Real winner of Xi summit revealed as Trump looks to usher in new era with China
Connecticut Homeowner Finds Himself in Cuffs After Opening Fire on Bear to Protect His Animals
Dick’s Sporting Goods Blocks Customers from Ordering Custom, Christian-Themed Water Bottles – Allows Islam
Jack Smith faces Senate grilling as Republicans press for criminal charges against him
Gaza refugee raised $13,000 on GoFundMe for alleged terrorist husband to enter US
State Department considers sharing passport records for voter citizenship checks
Lindsay Clancy’s push to probe holdout juror hits snag before pivotal retrial hearing
Kentucky trooper, father of 3, gunned down during traffic stop as suspect captured after manhunt
Lindsay Clancy holdout juror asks for one thing in new video after mistrial drama
Philadelphia serial killer probe brings in reinforcements to dig through home tied to missing women: report
Trump CMS faces bipartisan pushback over Medicare proposal tied to Biden-era drug pricing law
AI Companies and Major Unions Join Together for New Data Center Push
Sarah Huckabee Sanders Criticized Over ‘Welfare-To-Work Requirement’ Video That Depicts Young White Male as the Problem
Dem Senate nominee breaks silence after Susan Collins’ office was vandalized with vulgar message
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.
