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.
South Korea Kidnaps American Christian, Ex-Diplomat Who Dared to Criticize Nation’s President While on US Soil
US Chopper Spots Speed Boat Carrying 4,000 Pounds of Cocaine – Central American Authorities Seize It All
China ties suspected in sprawling California pot operations as GOP urges FBI probe
American who fled US after allegedly killing pregnant wife could return within days with murder charge dropped
Bush family royalty backs Democrat in battle to flip Texas blue
Dashcam video captures small plane crashing on San Jose highway, injuring three on board, including child
Vivek Ramaswamy lags behind Democrat Amy Acton in race to keep Ohio governor seat red
Alberta votes overwhelmingly to remain part of Canada in referendum
POTUS Wants Answers: Kennedy Center Chaos as Ric Grenell Accused of Selling White House Access, $5.6 Million ‘Donation’ Allegedly Missing
Bombshell Claim: Comer Says Ilhan Omar’s Winery Sold Empty Barrels to Investors
Midwest pro-Trump state could hold key to Republicans’ midterm hopes
Trump puts fraudsters on notice with $25M whistleblower program offering cash for tips that deliver
Marine Le Pen vows to be the one to end ‘decades of anarchic immigration’ as France is torn apart by riots
Rogers argues El-Sayed is vulnerable with 2 traditionally Democratic blocs as Obama heads to Michigan
UNC settles Trump admin probes into alleged campus antisemitism, race-based admissions
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.
