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.
ICE arrests in Minnesota surge include numerous convicted child rapists, killers
Woman Jailed After Gruesome Discovery Made in Light Bulb Box Buried in Back Yard
Pure Evil: Court Docs Claim Virginia Dem. Official Tried Getting Sexual Access to 9-Year-Old Boy… and then the Comments About Toddlers Started
One Agency Tried to Stop the Somali Welfare Fraud as Early as 2020, but Activists Used DEI to Intimidate It Into Silence
After Ayatollah Strikes Back at Trump and Says He’ll Fall From ‘The Peak of His Hubris,’ X Users Add Epic Community Note
Crowd-for-hire boss rejects Minneapolis unrest as illegal chaos
US military launches airstrikes against ISIS targets in Syria, officials say
State Department declares ‘international bureaucracies’ will no longer get ‘blank checks’ from the US
Four tankers that left Venezuela in ‘dark mode’ return as US eyes the country’s oil
Luxury Car Company Recalls Hundreds of Thousands of Cars Over Rearview Camera Defect
Trump signs order to protect Venezuela oil revenue held in US accounts
‘Stranger Things’ Directors Defend ‘Coming Out’ Scene That Had Fans Outraged
Christmas Drone Strike Killed 11 Christians in War-Torn African Nation
Major Trump Advisor Declares Which Major Red State City Will Replace NYC as Financial Capitol Thanks to Mamdani
Brown University shooting videos show awareness and planning, experts say
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.
