Entertainment
Lifestyle
Business
Sports
Health
Politics
Blockchain
Facebook
Twitter
Google
LinkedIn
YouTube
Dribbble
South Asian Insider
Home
India
South Asia
International
Videos
Picture Gallery
Epaper
Latest Epaper
Old Issues
View Details
<< Back
Donald Trump, Congress agree on $2 trillion bill to rescue coronavirus-hit US economy
The urgently needed pandemic response measure is the largest economic rescue measure in history and is intended as a weeks- or months-long patch for an economy spiraling into recession and a nation facing a potentially ghastly toll. The White House and Senate leaders of both parties announced agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently needed pandemic response measure is the largest economic rescue measure in history and is intended as a weeks- or months-long patch for an economy spiraling into recession and a nation facing a potentially ghastly toll. Top White House aide Eric Ueland announced the agreement in a Capitol hallway shortly after midnight, capping days of often intense haggling and mounting pressure. It still needs to be finalized in detailed legislative language. “Ladies and gentlemen, we are done. We have a deal,” Ueland said. 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. Hospitals would get significant help as well. “After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic,” said Majority Leader Mitch McConnell, R-Ky., a key negotiator. “It will rush new resources onto the front lines of our nation’s health care fight. And it will inject trillions of dollars of cash into the economy as fast as possible to help Americans workers, families, small businesses and industries make it through this disruption and emerge on the other side ready to soar.” At the White House on Tuesday, even as the public-health crisis deepened, President Donald Trump expressed eagerness to nudge many people back to work in coming weeks and held out a prospect, based more on hope than science, that the country could be returning to normal in less than a month. “We have to go back to work, much sooner than people thought,” Trump told a Fox News town hall. He said he’d like to have the country “opened up and just raring to go” by Easter, April 12. But in a White House briefing later, Trump said that “our decision will be based on hard facts and data.”
ENTERTAINMENT
LATEST UPDATES
Court-appointed committee a non-starter
The only issue over which there is a deadlock is the demand for repeal of the laws. The special committee cannot hear the two sides on this issue. The...
'Deep displeasure': India sends a stinker to WHO's Tedros over India's map
The 8 January letter is the third communication to the World Health Organisation in a month, reminding Tedros and his office to fix the maps (News ...
Farmers' protest: Youth Congress collects soil for India's map as a tribute
During the campaign from Kashmir to Kanyakumari, the soil will be collected, especially from villages and home towns of the 65 farmers, who have lost ...
Trump impeachment risks bogging down early days of Biden presidency
The prospect of Donald Trump facing a bitter impeachment trial in the US Senate threatens to cast a shadow over the earliest days of Joe Biden’s pres...
Vice President Pence, remove Trump now
What more does it take? President Donald Trump has brought the country to depths of division, unrest and instability that once would have been unthink...
HC asks RBI, SBI to maintain status quo on accounts of three Anil Ambani-led firms
The Delhi high court on Wednesday directed the State Bank of India (SBI) and the Reserve Bank of India (RBI) to maintain status quo concerning the ac...
For SpaceX Mission, Says He's "Excited, Honoured"
Raja Chari, 43, will serve as the commander while NASA's Tom Marshburn will be pilot and ESA's Matthias Maurer will serve as a mission specialist for ...
North Korea is going to be a major headache for whoever wins the US election
(News Agencies)- As Barack Obama ended his 75th day as President of the United States, the engines of a massive North Korean rocket roared to life ha...
Let it remain free country: SC after police summon woman over Facebook post
The woman had shared a crowded Raja Bazar area scene of Kolkata and questioned the Mamta Banerjee government's seriousness to enforce the lockdown. ...
India, US call on Pakistan to take immediate and irreversible action against terrorism
Besides China's aggressive actions across the region and beyond, counter-terrorism was part of the discussions between external affairs minister S Jai...
Advertisements