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.
Mounds of Snow and Trash Are Just the Opening Act of Mamdani’s Collectivist New York
Maryland Man Charged with Attempting to Murder Trump Administration Official
Suicide bomber kills dozens at Shiite mosque in Pakistan
Benghazi terror suspect extradited to face US charges
It’s AOC’s Party Now: Bernie-Backed Far-Leftist Could Win Dem Nomination to Replace ‘Moderate’ Sherrill in NJ
12 Minneapolis anti-ICE agitators arrested after massive crowd gathers outside Hilton hotel
First Nancy Guthrie Ransom Note Deadline Expires: ‘Do the Right Thing’
Shapiro fires back at DHS, says truck driver accused in deadly crash had legal status in database
RNC rolls out ‘powerful’ new TikTok strategy to win over key demographic after Trump’s 2024 success
‘Not Alaska First’: Peltola’s Green New Deal allies draw scrutiny in Alaska Senate bid
Hegseth says US strikes force some cartel leaders to halt drug operations
Can the late shah’s son sell the Trump administration on leading a postcleric regime in Iran?
Proposed California ‘wealth tax’ may backfire on liberal politicians as state’s revenue base dries up
Minnesota green energy program funded by Obama fined for killing bald eagle: ‘National treasure’
US forces kill two suspected narco-terrorists in Eastern Pacific lethal strike operation
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.
