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.
Longtime GOP leader faces uncertain future after Jim Jordan wins House leadership fight
Stephen Miller’s internal memo unleashes Trump agencies after ‘absolute control’ under Wiles’ reign
Foreign spy ‘honeytraps’ targeting America’s tech elite spark alarm amid Nvidia CEO scandal
Russia’s Ambassador to the US Dies ‘Suddenly’ Per Country’s Foreign Ministry
Armed Oregon Dad Who Engaged School Shooter Reveals His Final Words to the Killer Before Putting Him Down
Illegal immigrant’s alleged plane hijack scare fuels tense security scramble after door was ‘breached’: audio
Twice-Deported Illegal Alien Triggers Hijack Alert on United Flight After Rushing Cockpit: DHS
French novelist who wrote about Muslim-leftist takeover charged with hate speech for ‘Great Replacement’ comments
Democrats Are Turning on Each Other After Bizarre Absences Cause Hegseth Impeachment Effort to Fail
Wes Moore’s military record under renewed scrutiny after Army supervisor disputes his Afghanistan combat claims
Trump 45 alumni get behind a new name for press secretary
Hegseth could face new impeachment push over Ukraine aid, lawmakers warn
Ilhan Omar appears clueless on basis for federal probes: ‘You probably have more details on that’
Cruise Ship Returns to Texas Port Shortly After Departure When Murder Victim Is Discovered On Board
Multiple Kennedy family members seek to join legal battle against Trump’s triumphal arch
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.
