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 Serbian leader Vucic’s defeat at the hands of student movement leaves Washington in awkward position
Watch: El-Sayed Staffer Lets His True Feelings About Americans and the Muslim Brotherhood Slip in Devastating Undercover Video
DHS suspends visa-free travel program for Chinese nationals amid birth tourism, security concerns
Germans Furious After Audi CEO Teams with Trump to Announce New Georgia Plant
The Hitchhiker’s Guide to why removing Ilhan Omar from Congress could be harder than Trump expects
Have You Seen Him? Police Search for Murderer Who Escaped Tennessee Prison
Breaking: Comey Charged for Reportedly Leaking National Security Secrets in 2016
Not even sky high gas prices or the Iran war will stop Trump supporters voting MAGA
James Comey charged with leaking national defense information
DOJ seeks to prosecute Comey over alleged national defense disclosure
Trump says Brazil election likely ‘rigged’ as Bolsonaro demands Lula’s victory be annulled
Illegal immigrant accused of beheading Iwo Jima monument granted bond
Man found dead on Disneyland property near entrance to ‘Happiest Place on Earth’
Four things to know about the Israeli election
Omar’s menacing message hidden in seemingly innocent tweet exposed: ‘Crushed the enemy’
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.
