$2 Trillion to Stimulate the Economy

The Senate's Republican majority leader Mitch McConnell was expected to speak on the Senate floor about the agreement

The Senate finished negotiating its coronavirus relief package early in the morning of March 25. The original bill also did not have accountability measures in place to make sure President Donald Trump's administration directed disaster relief funds to where they were needed most. "I will sign it immediately", Trump told reporters on Wednesday. Some $240 billion is set aside for additional emergency appropriations and safety net programs: food stamp benefits, child nutrition, the Centres for Disease Control, and public health and transportation agencies.

NBC News' report added, "The bill is also expected to include roughly $100 billion in assistance for hospitals; $350 billion in assistance to small businesses; $500 billion in aid for corporations, including airline companies and cruise lines, that have been hurt by the outbreak; and about $150 billion for state and local stimulus funds".

Treasury Secretary Steven Mnuchin has been meeting with Senate Minority Leader Chuck Schumer to resolve Democrats' complaints about the Republican legislation.

The package is intended as relief for an economy spiraling into recession or worse and a nation facing a grim toll from an infection that's killed more than 21,000 people worldwide.

But it was delayed by criticism from both the right and left on Wednesday, pushing the final vote on passage nearly another full day.

Graham is one of a handful of Republican senators who raised objections to an unemployment compensation provision in the bill. However, an amendment that would have changed the unemployment provision failed just before the Senate approved the measure.

There had been criticism of the bill from the most progressive wing of the Democratic-led House. Representative Alexandria Ocasio-Cortez called it "a historic corporate giveaway" on Twitter.

The Senate approval of the bill came a few hours after the White House and Senate leaders reached a deal early Wednesday morning on the stimulus plan, following days of strenuous negotiations between Republicans and Democrats. Bringing more than 400 lawmakers from as far away as Hawaii and Alaska would be hard because a few are in self-quarantine and several states have issued stay-at-home orders. On the other side of Capitol Hill, House Speaker Nancy Pelosi (D-Calif.) has already endorsed the broad contours of the Senate compromise, but many House members are unavailable, especially after their recent interactions with two lawmakers who've since tested positive for COVID-19.

New York Mayor Bill de Blasio told CNN late Wednesday he believed the coronavirus crisis will last "substantially past" Easter.

NY sees glimmer of progress against Covid-19, New Orleans worsens
Asked about Trump's claims by a journalist at his Wednesday morning briefing, Cuomo said, "that's not the fact and you know it". Once once more, Clinton is revealing that she prefer to see our nation fall short than see Trump be successful.

New York Governor Andrew Cuomo said the $3.8 billion allocated to his state would not cover the tax revenue it stands to lose from reduced economic activity.

Pelosi said she was sympathetic to Cuomo and other state officials, but wanted a rescue package to move on.

The disputes clouded optimism that the bill could become law quickly. The money at stake amounts to almost half of the $4.7 trillion the USA government spends annually.

Investors were cheered by the news or the deal. On Wall Street, the benchmark S&P 500 rallied for a second straight day, closing up 1.15%. "This is a wartime level of investment into our nation", said Senate majority leader Mitch McConnell after announcing the deal. It needed 60 votes to pass.

The unanimous vote Wednesday came despite misgivings on both sides about whether it goes too far or not far enough and capped days of hard negotiations as Washington confronted a national challenge unlike it has ever faced.

Thune did not say whether he had coronavirus symptoms, although he said he was not advised to self-quarantine.

The sprawling measure is the third coronavirus response bill produced by Congress and by far the largest.

In this file photo, US Ambassador to the United Kingdom, Woody Johnson, is pictured after listening to British prime minister Boris Johnson and David Attenborough during a conference about the UK-hosted COP26 UN Climate Summit, at the Science Museum in London, Britain.

Related News:

Most liked

Missouri Walmart Coronavirus Licker Charged With 'Terrorist Threat'
One simple idea is catching on in Europe to fight the coronavirus: Pay workers to stay at home and do nothing . Take the case of this man who filmed himself licking several items at a Walmart store.

Rams’ Kevin Demoff to read mean tweets about team’s new logo
The logo changes were inspired by the surfing, skateboarding and auto cultures of southern California. According to the Chargers, the unveiling of the new uniforms is "less than a month away".

GWENT Witcher card game launches on Android
Whether a device meets the game's compatibility requirements can be checked by visiting GWENT's product page on Google Play . In celebration of the recent release, all players who log in to the Android version of GWENT before 31 March, 10:00 a.m.

Coronavirus traces lingered in vacated cruise cabins for 17 days
Because of this, another cruise line, the MSC Magnifica , has been refused entry to Perth ealier this week. With authorities blocking ships from docking over fears those on board may be infected with COVID-19.

Gold dips as investors overlook stimulus measures in cash dash
The recommendation comes after the price of gold fell in recent weeks despite markets around the world falling. Having been in excess of $20 an ounce on Tuesday, bid-ask spreads are now down to around $6 an ounce.

PFA seek urgent meeting with clubs amid talk of wage deferrals
Macclesfield and Southend have been facing particular cashflow problems but the EFL hopes to keep clubs afloat. The PFA said: "As with other industries, the crisis is having a severe impact on the finances of the game".

Vikings to sign ex-Titan WR Tajae Sharpe
He played in 47 games (with 43 starts) for the Minutemen, and holds school records with 277 receptions and 3,486 receiving yards. According to NFL Network Insider Ian Rapoport , the Vikings are signing former Tennessee Titans wide receiver Tajae Sharpe .

Who gets what from the $2 trillion United States virus aid package
Two members of the House and one senator have recently tested positive for the coronavirus illness COVID-19. Individuals who make $99,000 or more and couples who make $198,000 or more would not receive a check.

Apple Expected to Delay iPhone 12 Launch Date by Months
Plus, Apple's engineering of the prototypes has been hampered due to coronavirus-related restrictions. Apple has an office with thousands of employees in Hyderabad, which works on Apple Maps data.

Canada to begin enforcing 14-day self-isolation for travellers
Minister of Health Patty Hajdu says travellers returning home to Canada as of 12 a.m. on Thursday face a mandatory self-isolation for 14 days.

Senate Passes $2 Trillion Coronavirus Relief Bill, Now Moves To House
It allocates $17 billion for the SBA to cover six months of payment for small businesses with existing SBA loans. The bill must now pass in the House of Representative before it reaches President Trump's desk to become law.

Valve Officially Announces' Half-Life: Alyx's Release Date
Powered by SteamVR on Valve's Source 2 engine, Half-Life: Alyx will be compatible with multiple PC-based VR headsets . On the plus side, the game is also compatible with most other VR headsets, so there are plenty of alternatives.

Senate passes $2.2 trillion emergency relief bill
An additional $25 billion is provided for the food stamp program, along with $9.5 billion for the agricultural industry. The US agreed on legislation to help businesses, workers and the health care system amidst the coronavirus pandemic .

US Stocks Struggle Early after Tuesday's Overcooked Rally
What's unsure is how long it will last. "So to see a sustainable rally at this point, is going to be very hard ". Over 450,000 people have been infected globally and more than 20,000 have died, according to a Reuters tally.

Dupe who licked toilet bowl in 'coronavirus challenge' now in hospital
This comes as the deadly virus pandemic has now gripped all 50 states of the U.S. , infecting more than 68,211. Other Coronavirus challengers have licked food at grocery stores and the toilet seats as well.