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.
The Hitchhiker’s Guide to what the Senate did and didn’t do overnight
One year on, US-brokered peace between Armenia and Azerbaijan cements US foothold in the Caucasus
Joe Biden’s cancer has spread further, leaving him in ‘very painful’ condition, Hunter reveals
Florida business owners allegedly scattered 1,500 mothballs on beach to send endangered birds packing
Don Lemon Whines to Judge and Blames Trump in Bid to Get Indictment Thrown Out
Cornell bans bear butchering after students carved up creature in dorm kitchen
‘DEI queen’: Virginia Dem’s past embrace of far-left prosecutors unearthed
Slain California fire captain’s wife admits murder after Mexico capture, serving time for killing first spouse
Megan Rapinoe Melts Down After Seeing Photo of Sophie Cunningham with Riley Gaines
Muslims Kill 30 Nigerian Christians in Latest Village Attack
Middle school student arrested after allegedly stashing homemade firearms for robbery plot: sheriff
Persecution of Egyptian Christians Continues in Series of Recent Incidents
Report: Muslim Brotherhood, US-Designated Terror Organization, Celebrates Abdul El-Sayed Primary Win Through Its Media Outlet
Self-Proclaimed Queer Priest Blasts Trump in Award Reception Speech
Dem Senate hopeful flip-flops on emerging issue impacting communities across US
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.
