Senate Reaches Deal On Massive Coronavirus Relief Bill
4 years, 9 months ago

Senate Reaches Deal On Massive Coronavirus Relief Bill

Huff Post  

LOADING ERROR LOADING WASHINGTON ― After days of marathon negotiations and a tense shouting match on the Senate floor, lawmakers reached a deal with the Trump administration early Wednesday morning on massive trillion-dollar emergency legislation aimed at propping up the U.S. economy and giving relief to workers hit hard by the coronavirus pandemic. “The Senate has reached a bipartisan agreement on a historic relief package for this pandemic,” Senate Majority Leader Mitch McConnell said on the floor. What it says is if you lose your job in this crisis you can be furloughed by your employer,” Schumer said Tuesday of the new provisions, calling it “unemployment insurance on steroids.” Democrats also succeeded in securing in some oversight over $400 billion in loans to distressed corporations, which some critics were calling a “slush fund.” The massive pot of money would be controlled by President Donald Trump’s administration and could include bailouts to affected industries like hotels, casinos, cruise lines, and the oil and gas industry. Pelosi expressed hope Tuesday about getting unanimous agreement in the House to approve the Senate bill by voice vote rather than calling the entire lower chamber back to Washington, a process that could substantially delay getting the bill to the president’s desk.

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