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.
El Sayed mocks Rogers’s ‘earpiece’ and Trump’s ‘a**’ remarks in Grand Rapids rally
Sanders calls Michigan Senate race a test of Trump, accuses president of using racism to divide voters
Bruce Blakeman calls Kathy Hochul Zohran Mamdani’s ‘puppet’ during New York campaign rally
College homecoming party turns to chaos as deck collapses, leaving at least 28 people injured
Ninth Circuit questions Trump DOJ’s emergency request to set aside 20,000 California mail ballots
Stolen car slams into South Carolina home as teens bolt, authorities say
Woman busted in NYC rabbi syringe attack allegedly stabbed another Jewish man hours earlier: report
Ilhan Omar Accused of Leaking Info to Foreign Leaders in Somalia as Resurfaced Post Brings Evidence to Light
Airbnb Cracks Down on Hosts Treating Guests Like a Free Maid Service
How Is This Legal? Pollster Boosting Dem in Mississippi Admits It Fabricated Most Election Surveys
MAPPED: The states Trump and top Democrats are targeting before Election Day
Young Voters Who Helped Hand Trump White House Are Flocking Back to Dems for the Midterms: Poll
‘Pay the Community’: Trump Pushes Builders to Give Local Americans Extra Payday to Put Up with Unpopular Data Centers
5 victims released from hospital after Florida A&M University shooting, 1 remains critical
‘Nothing Compared to What Is Coming’: Bukele Issues Stark Warning to Haitian Gangs
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.
