Trump family will not profit from $2tn stimulus package, Schumer says

House Speaker Nancy Pelosi said a deal on the coronavirus stimulus bill could be made shortly

In the House, both Democratic and Republican leaders hope to clear the measure for President Donald Trump's signature by a voice vote without having to call lawmakers back to Washington, but that may prove challenging, as the bill is sure to be opposed by some conservatives upset at its cost and scope.

$30 billion in emergency education funding and $25 billion in emergency transit funding.

It will include about US$500 billion in loans and assistance for larger companies, as well as states and cities, according to the latest drafts being circulated.

Mnuchin had shuttled between the Capitol offices of the Senate's leaders as they and staffers hammered out the language of the bill.

"I think there is real optimism we could get something done in the next few hours", Pelosi said in an interview on CNBC. Unemployment insurance would be expanded to provide extra US$600 a week on top of state benefits, which now vary in length and amount, eligibility would be expanded to cover more workers.

Democrats demanded and won a series of restraints on corporations that benefit from loans or investments from the Treasury Department, as well as an oversight mechanism for who gets money.

To provide transparency, the package is expected to create a new inspector general and oversight board for the corporate dollars, much as was done during the 2008 Troubled Asset Relief Program bank rescue, officials said.

According to the revised bill, $130bn will go to hospitals, and $367bn will be used to rescue small businesses.

As part of the agreement, the bill would prohibit businesses controlled by the president, vice president, members of Congress and heads of executive departments from receiving these loans.

Tokyo Olympics Have Been Postponed to 2021, Japanese Prime Minister Confirms
The Olympic Flame will remain in Japan and the name Tokyo 2020 will be used regardless of when the Games will be held. The delay is unprecedented, marking the first time in modern Olympic history that the games have been disrupted.

"The time is upon us and the rescue work needs to be done", Barrasso said. Married couples would get $2,400, up to a combined income of $150,000.

While there is little doubt the legislation will pass, getting Congress to act quickly will require the consent of essentially every member of Congress. The same applies to the House, where lawmakers are now on a recess.

The bill could be passed by the Senate later Wednesday, but it is unclear when the House will take up the legislation, as its members are home in their districts and some have tested positive for the coronavirus or have self-quarantined as a precautionary measure.

Futures contracts traded higher early Wednesday following the surge in regular session earlier on anticipation over the legislation.

White House legislative affairs director Eric Ueland announced the agreement shortly after midnight at the US Capitol.

The size of the stimulus package has grown over the past week, from the $850 billion that the Trump administration reportedly first asked for, to the current $2 trillion. "Then it becomes a question of health insurance".

The package will likely more than double a U.S budget deficit that was already set to hit US$1 trillion this year before the outbreak.

The proposal is the third - and biggest - plan by Congress to confront the coronavirus crisis as the disease spreads. It also will send tens of billions in fresh aid to states.

Related News:



Most liked

Staten Worker Warehouses’s Amazon Worker Tested Positive For COVID-19
According to the CDC, the coronavirus primarily spreads via "respiratory droplets" when people cough or sneeze. Local reports reveal at least seven Amazon warehouses in the USA now have confirmed cases of Covid-19.

Mobile Launches Cheap New Plan With Limited Data for COVID-19 Era
Like the T-Mobile Connect plan, it'll include unlimited talk and text, plus 2GB of high-speed smartphone data. With T-Mobile Connect, we're giving those hardest hit an even more affordable way to stay in touch.

Plague Inc Update Is Going To Let You Stop Pandemics
Furthermore, they have called for the fans of the game to support the efforts against the spread of Coronavirus themselves. Beyond that, they'll also have to deal with triaging, quarantining, social distancing and closing public services.

Tyson Fury v Deontay Wilder rematch may be moved to October
But because of the coronavirus , which has already cancelled or postponed all of Arum's boxing shows in March and April, the fight now won't take place until at least October.

Covid-19: State of Emergency declared in New Zealand
The school is closed and has been closed all week and all students and staff are being managed as close contacts. The Minister for Civil Defence Peeni Henare announced the State of National Emergency .

National Football League wants to keep 2020 Draft on schedule for April 23-25
Some NFL teams already had closed facilities; others had very limited personnel in the building. The draft is still expected to be televised.

HP Drums Up Hype for Reverb G2 Next Gen VR Headset
What we do know is that it is a follow up to the Reverb, HP's expensive VR headset designed for Windows' Mixed Reality lineup. As the headset was just announced , the details of the headset, including the specifications haven't been released as of yet.

Samsung's Galaxy Book S has finally arrived in the UK
Samsung is already rolling out the update (OTA) over the air for Galaxy S20 users from the United States. Amusingly enough, the Samsung Galaxy M31 also features similar battery arrangements - 6,000mAh and 15W.

Valve Thinks a Non-VR Half
We really- we've been working on this for four years and we're really excited because the reception before the game is out seems to be really quite positive, so far".

Saudi Arabia imposes dusk-to-dawn curfew over coronavirus
Saudi authorities on Sunday reported new 19 cases of coronavirus , bringing the total infections in the kingdom to 511. Oman also said it would suspend all passenger flights from March 29 except to and from Musandam, bordering the UAE.

NBAer Karl-Anthony Towns: My mom is in coma with coronavirus
Towns says his mother's fever was high and not improving, and her cough and lungs were getting worse. She's been in a medically-induced coma since that day". [Then the doctors] said she went sideways.

Barr says Trump signed order to prevent hoarding of medical supplies
So far, more than 40,000 people have been tested positive in the U.S. , while over 400 have died because of the lethal virus. Fifty-three percent of those surveyed said Mr.

Coronavirus: The Walking Dead to pause on penultimate episode
Initially scheduled to make a big appearance on April 12, the new dramatization will currently release not long from now. Now we find out that the AMC chain is going to do the same with its end of season from " The Walking Dead ".

Shane Warne hammers PM Scott Morrison over coronavirus update
Weddings will still be allowed to be conducted but will be restricted to just the couple, the celebrant and witnesses. Further restrictions on indoor gatherings will also be introduced, including food courts and some markets.

Carolina Panthers Signing WR Robby Anderson
The Daily News first reported the explosive Jets wide receiver agreed to terms on a deal to join the Panthers. In 62 games, Anderson has totaled 207 catches, 3,059 receiving yards and 20 touchdowns.