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.
Anna ‘Delvey’ Sorokin still posting from New York City as DHS signals her deportation may finally be coming
Federal agents in New Jersey beat back anti-ICE agitators in chaos outside Delaney Hall detention facility
US Military Carries Out Deadly Strike on Drug-Smuggling Vessel in Eastern Pacific
U.S. Rushing to Set Up Ebola Quarantine Facility: Report
ACLU hit with foreign money complaint as new election law faces major test
New York sheriffs ‘mad as hell’ as Hochul pushes to ban key law enforcement partnership
WATCH: Purple Heart veteran reacts to Platner’s refusal to apologize for mocking him, shreds PTSD excuse
Israel kills top Hamas military chief in airstrike
Pakistan: America’s most complicated ally — and why Trump is betting on it again
Russia’s drone invasion and the grim realities of remote combat: ‘It’s gonna kill you’
All 50,000 evacuees cleared to return home after chemical tank crisis at Southern California aerospace plant
Pam Bondi diagnosed with thyroid cancer weeks after departing as Trump’s attorney general: report
Ex-NFL linebacker poised to return to Congress after Texas runoff win with Jasmine Crockett endorsement
Trump-backed Air Force veteran wins GOP runoff in newly-redistricted House district
U.S. military kills alleged narco-terrorist in lethal strike on drug-trafficking vessel in Eastern Pacific
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.
