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.
Former Russian president warns Europe’s ‘peaceful sleep is over’ after Romania drone hit
Kevin Kiley’s two-front fight: Battling California redistricting while defending his own seat
Dead voter allegation fuels concerns about voting safeguards as blue state official turns herself in
WATCH: America’s first ‘formerly undocumented’ congressman delivers ultimatum at besieged ICE facility
‘Your Time Has Passed’: Democrats Furious After Jill and Hunter Biden Burst Back Into Spotlight
White House Launches Aliens.Gov After Series of Cryptic Messages: ‘They Walk Among Us’
Amtrak fire near Penn Station triggers major NYC commuter disruptions, NJ Transit and LIRR cancellations
‘Ghosts’ on Florida highways: Roadside sting snares 249 illegal immigrants, officers warn many more hiding
Blistering report exposes how national K-12 group’s DEI agenda is trickling down to local schools
Democrats ‘selling their soul’ to embrace Platner are in for rude awakening with Maine voters: GOP lawmaker
Can congressional Democrats co-opt MAHA from the MAGA-verse?
Democrats lash out at Bidens as former first lady relitigates the past: ‘They suck’
With tough midterm elections looming, Trump 2028 GOP revenge list grows
12-year-old boy dies after raft capsizes during school trip in Pennsylvania
BREAKING VIDEO: Blue Origin Rocket Suffers Massive Explosion After Catastrophic Failure at Cape Canaveral
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.
