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.
Research Team Reveals the Secret of Ancient Biblical Manuscript
After NASCAR’s Greg Biffle And Family Died, Police Think ‘Friends’ Stole from Them
Inside the coming battle over Virginia’s abortion ballot referendum
Iowa woman died following hernia repair after nurses dismissed painful post-surgery symptoms: lawsuit
Shooting during party at Oklahoma’s Arcadia Lake leaves at least 10 wounded, police say
Marco Rubio spotted behind DJ booth at family wedding as social media reacts to viral clip
Breaking: Rudy Giuliani in ‘Critical Condition’ at Florida Hospital
Rudy Giuliani hospitalized in critical but stable condition: ‘He’s fighting’
Man accused of biting infant during erratic dash through businesses before restaurant arrest
Breaking: After Attack of Cargo Vessel, Trump Directs US to Escort Foreign Ships Through Hormuz
Supreme Court Declines to Make Ruling in Case of ‘Socially Transitioned’ Florida Child
Company Orders Recall of Chocolate Sold Nationwide After Potentially Dangerous Ingredient Included
Latest Trump assassination attempt exposes ‘educated assassins’ moral crisis, university president says
ATF to Bring Back Sanity and Reject ‘Gender Identity’ on Gun Background Checks
Ridglan Farms beagles begin leaving Wisconsin facility after rescue groups strike deal for release
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.
