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.
Oklahoma Citizens Rise Up Against Plans to Build Mosque in Their Town
Islamic Revolutionary Guard Corps poses global threat even if Iranian regime is decapitated
House Speaker Mike Johnson tells British Parliament he came to ‘calm the waters’
One year back in the Oval Office, Trump White House says every major campaign promise delivered
172 Christians Abducted from Two Church Services in Nigeria
Trump inauguration a year later: ‘America First’ interpretation tests fragile coalition
ICE says immigrant who died in Texas detention center committed suicide
Judge and wife shot in broad daylight in Indiana, sparking massive multi-agency investigation
Dem Senator Warner admits Biden ‘screwed up’ the border, but claims ICE now targeting noncriminals
Trump says media focuses too much on Minnesota ICE coverage, not enough on corruption allegations
Maryland Democrat’s bill seeks to ‘digitally unmask’ ICE agents after fatal Minneapolis shooting
Bill Cassidy challenger digs in against Trump’s preferred GOP Senate candidate
Florida repeat offender allegedly killed 3 tourists minutes from Magic Kingdom after run of violence: records
ISIS fighters reportedly escape from Kurdish prisons amid fighting with government
Piers Morgan Hospitalized After Suffering Serious Injury at Restaurant
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.
