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.
Birth tourism scams draw sweeping crackdown as visa revocations climb
American Automaker Recalls Over 1 Million Cars for Possible Seat Belt Issue
US kills two ‘narco-terrorists’ in strike 2 months since last announced anti-‘narco-trafficking’ attack
Nigeria May Lose Major US Aid Package Over Christian Persecution
Thune-aligned groups unleash historic war chest to defend Senate majority: ‘Winning message’
AI’s massive appetite for power, water ignites fight in high-stakes Texas Senate race
Linda McMahon vows crackdown on teachers sexually harassing students: ‘Must end’
Enes Kanter Freedom ejected from WNBA game after courtside confrontation with WNBA player
Suspect in deaths of 5 found dead after cops uncover grim scene at rural property outside Portland
Lindsay Clancy’s three child victims forgotten amid crowds of support: mother of six
College grad reportedly dies in Six Flags roller coaster incident as family sues theme park
California dad paralyzed from neck down after diving into ocean to rescue child
City in Anti-2A State Has 7 Times the Murders of Cities in State That Respects Gun Rights
House Ethics Committee Opens Investigation Into Democrat Rep Jimmy Gomez For Sexual Misconduct
Harvard Still Employs Professor Whose Emails with Epstein Mentioned Spies And Torture
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.
