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.
Trump threatens to double tariffs on Mexico if migrant caravans not stopped
Peltola campaign loses in court on rejected absentee ballots as she maintains narrow lead
‘China is not our enemy’: Inside the DSA’s foreign travel now in Florida’s crosshairs
Florida city says new GOP-backed DEI law blocks St. Patrick’s parade, Pride event
GOP senator says Republicans can ‘forget 2028’ as party looks to reclaim Upper Chamber
DNA Links Grizzly Bear Mom and Her Cubs to Fatal Mother-Daughter Mauling – All 4 Bears Hunted Down and Killed
Cape-Wearing Leftist Arrested at Texas University for Allegedly Striking 3 with Cane at TPUSA Event
Suspected DUI driver arrested on 3 murder counts after deadly North Hollywood crash, police say
Twice-deported United cockpit suspect granted asylum after transgender persecution claim: DHS
As Ilhan Omar Gloats Over Islamic Wins, Idaho Muslim Sentenced for Plot to Massacre Christians with Explosives, Knives, Firearms
Illegal immigrant arrested after dragging, striking ICE officer in Chicago suburb: DHS
Jeffries leaves door open to investigating major Trump ally as Democrats prepare to take power
ESPN’s Rex Ryan Jailed, Accused of Hitting 2 with His Truck and Fleeing the Scene
Hakeem Jeffries faces progressive holdouts but no rival as House speaker race takes shape
Watch: Tentacled UFO Caught on Wild Viral Video and Reported Near Military, But the Possible Truth May Disappoint
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.
