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.
James Talarico Calls Biden’s Border ‘Utter Chaos’ In Attempted Immigration Rebrand
Rahm Emanuel road-tests emphasis on policy over Trump-hatred
Who is Bill Essayli, the hard-charging prosecutor at the center of California’s election fight?
Platner’s ‘deranged’ response to Musk becoming a trillionaire sparks online outrage: ‘Loserthink’
Op-Ed: What the Court Refused to Say About Your Money
Trump administration attempts to ramp up Alaska oil and gas drilling
WATCH: House Dems blame racism, ‘all-White’ jury for Karmelo Anthony’s guilty verdict
Ukrainian national who completed Air Force officer training convicted in ghost gun 3D printing operation
Trump says US military eliminated ‘infamous’ Tren de Aragua leader in lethal strike
Federal judge rules she lacks authority to reinstate fired Yosemite ranger who flew trans pride flag
Op-Ed: Operation Epic Fury and the Lesser Evil
Young McDonald’s Worker in ICU After Co-Worker Doused Him in Boiling Oil, According to Horrified Mom
Spencer Pratt Begins ‘Phase 3’ of ‘Saving LA,’ Reveals He Has Recordings That Will Make Opponent ‘Resign in Shame’
Trump Threatens to ‘Take Back’ D.C. and ‘Run it on a Federal Basis’ as Mamdani-Style Socialist Leads Mayoral Race
Deadly Mass Shooting Triggers ‘All Hands on Deck Situation’ in Texas City
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.
