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.
Fox News True Crime Newsletter: Buster Murdaugh seen for first time since dad’s murder conviction overturned
Video shows undercover cops shooting man threatening shoppers with fake gun in ‘justified’ defense: officials
Intense Footage: Police Officer with No Protective Gear Sprints Into Burning House and Saves Entire Family
Court Overturns Former Attorney Alex Murdaugh’s Double Murder Convictions
Dem Senate hopeful’s ‘physician’ campaign pitch under fire after license records reveal key gaps
Massie’s ex-girlfriend alleges he arranged her Capitol Hill job, then offered $5,000 to drop termination suit
Veterans group backing Iowa Democrat’s Senate bid is bankrolled by Schumer-aligned PAC
Trump struggles to shake ballroom backlash: ‘We don’t have the money’
Democrats’ midterm push clouded by infighting over party keeping 2024 autopsy under wraps
New 9/11 Museum exhibit aims to connect younger Americans to the attacks through powerful artifacts
Finland has ‘exactly the same position’ as Trump on NATO failures but pleads not to let Russia, China divide the West
Trump and Cabinet officials welcomed by Xi at China’s Great Hall of the People
CIA Accused of Raiding Tulsi Gabbard’s Office Seizing JFK, MKUltra Documents Set for Declassification
Trump’s upbeat China message collides with deepening Beijing rivalry
China rolls out red carpet for Trump as Xi meeting tests trade, Taiwan tensions
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.
