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.
Dana White takes questions at podium during White House briefing with Trump
Jeffries vows Democrats won’t ‘give a dime’ to Trump’s deportation efforts
Watch: CNN Interview Blows Up in Garcia’s Face After He Talks About Stephen Miller’s Crimes, But Can’t Name Any… Twice
Breaking: GOP Navy SEAL Vet Holds on to House Seat in Battleground State
FBI investigates suspected homicide aboard MSC Seascape cruise ship after sudden return to Texas
Arizona Republican holds House seat, surviving re-election scare
White House doubles down after Trump angers base by floating illegal alien deal with Dems
Hakeem Jeffries’ Speakership Hopes Take a Blow as Newly Elected Democrats Bring Chaos on Their First Day in D.C.
Next Generation OPIR GEO: Building America’s gateway to the future of space-based missile warning and tracking
Three Former Trump Admin Officials Launch $1 Billion Company That Puts a New Spin on Data Centers
Spanish prime minister calls meeting over ‘migration emergency’ as thousands surge into Canary Islands
Two people arrested after vehicle crashes into sidewalk near White House
Secret Service arrests two after car crash and barricade breach outside White House
Trump’s Sudden Reversal on Immigration Sparks Cries of ‘Betrayal’ from Conservatives, Cheers from Pro-Amnesty GOP Rep.
Kathy Hochul entertains massive political promotion as Democrats look ahead to 2028
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.
