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Senate & White House Agree On Historic $2 Trillion Coronavirus Stimulus Package

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It took far longer than it should have, but the American people will soon be feeling some economic relief. Late on Tuesday evening, the Senate and White House agreed to a historically massive stimulus package.

Here’s what’s up, via Fox News:

The White House and Senate leaders reached a breakthrough deal shortly after midnight Wednesday on a massive and historic $2 trillion coronavirus relief package for workers and businesses, Fox News has confirmed, capping off days of heated negotiations that had nearly been derailed by last-minute demands from House Democrats.

[…]

Senate Minority Leader Chuck Schumer, D-N.Y., said the bill amounts to “unemployment compensation on steroids,” and that every American laid off will have their missed salary remunerated. The bombshell provision will enable companies to stay afloat and immediately bring back those employees when things are safe‬, Schumer said.

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The unprecedented economic rescue package would give direct payments to most Americans, expand unemployment benefits and provide a $367 billion program for small businesses to keep making payroll while workers are forced to stay home.

One of the last issues to close concerned $500 billion for guaranteed, subsidized loans to larger industries, including a fight over how generous to be with the airlines, given that Democrats wanted them to abide by new carbon emissions restrictions. Hospitals would get significant help as well.

Here’s more COVID-19 randomness, via Twitter…

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About the Author:
John Salvatore has been a Writer and Editor of multiple political blogs since early 2015. He earned his Master’s degree in Public Administration upon completion of a Bachelor’s degree in Political Science. A diehard Los Angeles Dodgers fan, John can be reached at [email protected]




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