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.
USDA immediately suspends all federal funding to Minnesota amid fraud investigation
Fox News Politics Newsletter: AOC accuses Vance of believing ‘American people should be assassinated’
Tim Walz Fumes About ‘Accountability’ in Shooting Death of Renee Good – He Should Start by Looking in a Mirror
New top Democrat on House CCP committee took cash from China-linked donors
DC pipe bomb defendant pleads not guilty to federal charges
Watch: Top Chicago Cop Blasts Dem, Media Narrative on Renee Good Shooting, Comes to Defense of ICE Agents Being Attacked with Cars
Fox News True Crime Newsletter: Ohio dentist murders, Kohberger sister’s warning, ‘Torso Killer’ confession
Trump pauses oil exec summit to peek at White House ballroom’s progress
Johnson meets with Muslim man who confronted, disarmed Bondi Beach attacker
Iranian officials have few options if they flee an overthrown regime
WATCH: Bodycam for Ohio dentist murders shows police went to wrong home before couple was found dead
Walz Rages That ICE Won’t Share Shooting Evidence With Sanctuary City Minneapolis – Which Outright Refuses to Cooperate With ICE
House Republicans defend ICE agent in fatal shooting, say use of force was justified
California leads multistate lawsuit against Trump over child care funding freeze
Obama Presidential Center job listings push ‘anti-racism’ pledge ahead of opening
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.
