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.
Noem greenlit deportation flights after judge’s emergency order, DOJ reveals — fueling contempt fight
Georgia moves to drop 2020 election interference case against Trump
At least 13 killed and dozens injured after massive fire engulfs residential complex in Hong Kong
Trans ‘Slender Man’ Stabber Gave Police Weird Message When They Found and Re-Captured Her
Showdown for the House: Democrats, Republicans brace for high-stakes midterm clash
Elon Musk Paints a Picture of a Future in Which Work Is Optional and Money Is Irrelevant
US envoy gave Russian aide tips on how to sell Ukraine deal to Trump: report
‘Slender Man’ stabber’s escape proves she ‘should never have been released,’ expert says
Video shows aftermath of violent neighborhood street takeover that left couple battered in ‘planned attack’
Six-year-old immigration court error haunts Kilmar Abrego Garcia case
Transgender inmates separated from females at special needs women’s prison following sexual abuse claims
Campbell Soup Exec in Hot Water After Alleged Meltdown on ‘F***ing Poor’ Customers and 3D Printed Meat, Which Campbell Denies Using
Federal Investigators Release More Information About Shocking UPS Plane Crash
What happens next after Comey and James cases dismissed?
Manhattan DA to retry Etan Patz’s killer after conviction in deadly 1979 kidnapping was overturned
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.
