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Political and Legislative

Negotiators Strike Deal on Massive Coronavirus Rescue Package

Senate leaders and the Trump administration clinched a bipartisan deal early Wednesday morning on a nearly $2 trillion emergency relief package in response to the coronavirus pandemic, a move intended to assist businesses and millions of Americans amid an unprecedented halt in the U.S. economy.

The announcement, which came around 1 a.m., capped five days of tense, marathon talks between senators and the White House. Senate Majority Leader Mitch McConnell vowed that the Senate will pass the bill later Wednesday, while House leaders are eyeing an expedited process to get the massive emergency package to President Donald Trump’s desk for signature before the end of the week.

Senate Minority Leader Chuck Schumer and Treasury Secretary Steven Mnuchin, who led the negotiations for the White House, were under intense pressure to reach an agreement before the financial markets opened back up on Wednesday morning, facing a dire economic outlook and a growing number of Americans losing their livelihoods amid the global crisis.

Read the source article at Politics, Policy, Political News

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