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.
FIRST ON FOX: Supreme Court justices confront what it will take to keep America’s founding freedoms alive
Senate Republicans plan 54-day blitz to push Trump’s agenda before Democrats seize power
UN denies working with Hamas-loving Gaza ‘aid’ group funded by American Marxist
NYC man accused of 3 Central Park rapes arrested at Miami Burger King
Multiple dead after vehicle crashes into food stand near North Hollywood Metro station
Mullin vows ‘zero change’ on immigration after Republicans suffer crushing midterm losses
Twice-deported illegal immigrant accused of trying to storm United cockpit, threatening bomb: DHS
Democratic Congresswoman Threatens Military Members ‘Down the Chain’ from Pete Hegseth with Investigations
Anti-Israel agitators swarm Biden in Ireland and hurl object at motorcade
This Midterm Result Should Give You Hope: Voters Passed Wave of Conservative Policies Nov. 3, Even as They Crushed GOP
IRGC operative lands on FBI’s Most Wanted Terrorists list over alleged plot to kill former Trump advisor
Migrants Marching Toward US Southern Border Are More ‘Hopeful’ Following Blue Wave: CNN
A New Name Has Risen to the Top of Trump’s White House Press Secretary Shortlist: Report
Incoming Congressman Says Senior Democrats Are Trying to Threaten Him Into Backing Hakeem Jeffries as Speaker
Dem Robert Garcia Explains Rationale Behind Weaponizing Government: ‘Maybe It’s Because I’m Gay’
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.
