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.
Far-left nonprofits in the hot seat as lawmaker exposes them for ‘sowing chaos’ in US
Turning Point Action endorses Ken Paxton in Texas Senate race
Nancy Guthrie was expected at friend’s home, not church on day she vanished: source
Teen who shared cabin with Anna Kepner faces federal scrutiny in cruise ship death
Appeals court backs Noem move to end TPS protections for Nepal, Honduras, Nicaragua
Watch: ‘Miracle on Ice’ Legend Mike Eruzione Scolds Whining US Olympians for Getting Political
US military launches deadly strike on drug-trafficking vessel in the Pacific, leaving 2 dead and 1 survivor
Trump says he will block US-Canada Bridge unless Canada negotiates on trade
Keir Starmer insists he won’t resign amid potential replacements already emerging
Court rules against California ICE mask ban in win for Trump administration
No More Super Bowls for California – Seahawks QB Will Reportedly Owe Money for Winning a Ring Thanks to State’s Insane Tax Laws
Jeffries accuses Republicans of ‘voter suppression’ over bill requiring voter ID, proof of citizenship
House passes bipartisan housing bill as Trump zeroes in on affordability crisis
ICE nabs convicted pedophiles and murderers over weekend despite smears at Super Bowl: ‘Risking their lives’
US Forces Board Vessel ‘Operating in Defiance’ of Trump’s Quarantine: ‘It Ran, and We Followed’
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.
