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.
One of America’s oldest manufacturers says AI is creating jobs — not replacing them
EXCLUSIVE: Millions of newborns to receive special Social Security cards celebrating America’s 250th birthday
‘I Am a Ruined Man’ – Japanese World Cup Tourist Gets Trapped in Hilarious Cycle – Won’t Say No to a Gift, So Free ‘Gift’ Chips Won’t Stop Coming at Mexican Restaurant
Trump honors Village People and ‘Y.M.C.A.’ singer Victor Willis after death announcement
‘Experts’ Stumped About How Trump Proved Them Wrong on Oil Prices: ‘It’s the Weirdest Thing’
Trump faces ‘worst-case scenario’ on birthright citizenship after Supreme Court shuts door on executive, legislative fixes
Harris-backed Democrat scrubs BLM-era posts as House campaign heats up
America’s favorite beers — and the jobs tied to them — are at the center of a brewing trade fight
1,000 days after Oct. 7, Israel’s military successes come at the cost of global isolation
Florida toddler dies after father realizes child was left in SUV during daycare pickup
Thousands of beer cans spill across Connecticut highway after tractor-trailer overturns
Socialism goes west as DSA-backed challenger ousts longtime Democrat
DOJ says 11 migrants indicted in multi-state sex trafficking, drug, firearms case
Anti-Trump senator defeated by far-left rival after heated gubernatorial primary
Ex-talk show host will take on former chief advisor to Kamala Harris’ husband
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.
