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.
Tlaib moves to block ICE airport arrests, says TSA helping target immigrants
Israel strikes Hezbollah in Lebanon as Rome peace talks continue
Exclusive: Grieving mom reveals deadly cost of illegal immigration as daughter’s killer seeks parole
‘Oxferd Comma’ investigation being declassified by White House, with John Solomon briefing
Putin selects commander to lead new drone warfare branch of Russian military
Trump Declares El-Sayed’s Michigan Win ‘Great News for the Republican Party’
Republican who reportedly dropped out defeats Trump’s pick in key swing-district primary
Republicans move to oust embattled Florida GOP lawmaker in bitter primary fight
Musk Issues Stark Counter-Threat After Mamdani Team Member Declared Him ‘Valid Military Target’ According to Report
House Republican Ends Re-Election Campaign After Ethics Committee Recommends Censure
SpaceX Rocket Collides with Moon at 5,400 MPH
Details on Heavily Armed Person Roaming Golf Course Before Trump Visit Emerge, Notebook Seized
Disturbing: Gossip Columnist Perez Hilton Hospitalized After Harming Self on TikTok Live Stream
Takeaways from crucial primary elections across the country and more top headlines
Suspects in deadly Connecticut home invasion arrested in attack that rocked beach town
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.
