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.
Report: 48 More Christians Slaughtered in Nigeria, Hundreds of Homes Destroyed
Trump-linked companies and family crypto ventures take a hit in second term
FBI’s renewed push in DC pipe bomb case shows how fresh eyes can change a stalled investigation
Marine who was killed in vehicle training accident at California base identified
Police say criminal illegal alien injured 4 officers in Nebraska gas station shootout
NYC mayor-elect tells residents how to resist ICE agents knocking at their door in new video
Oklahoma trooper helps deliver newborn on highway shoulder: ‘The baby is coming!’
Congress unveils $900B defense bill targeting China with tech bans, investment crackdown, US troop pay raise
Trump adds his birthday as free national park day while axing MLK Day and Juneteenth
Obama Proves He’s Stuck in the Past, Offers Desperate Defense of Legacy Media
In Texas cattle country, one rancher welcomes Trump’s focus on decades of thin margins
MTG says she was denied security detail despite 773 death threats
A Detailed Account of the Nightmarish National Guard Shooting: Court Docs
Pearl Harbor remembrance ceremony marks 84 years since attack
Under the New ‘Trump Accounts,’ Your Baby Could Qualify for $1K: Here’s What to Know
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.
