Please ensure Javascript is enabled for purposes of website accessibility
Trump, Congress Agree on $2 Trillion Virus Rescue Bill
gvw_ap_news
By Associated Press
Published 5 years ago on
March 25, 2020

Share

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.

Deal Announced Shortly After Midnight

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.”

Trump Eager to End Business Shutdowns. Health Advisers Disagree.

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.”
Medical professionals say social distancing needs to be stepped up, not relaxed, to slow the spread of infections. At the White House briefing, the public-health authorities said it was particularly important for people in the hard-hit New York City metropolitan area to quarantine themselves for 14 days, and for those who have recently left the city to do the same.
Dr. Anthony Fauci, the government’s top infectious disease expert, said pointedly at the briefing, “No one is going to want to tone down anything when you see what is going on in a place like New York City.”

Provides Direct Payments of $1,200 to Adults

On Capitol Hill, five days of arduous talks produced the bill, creating tensions among Congress’ top leaders, who each took care to tend to party politics as they maneuvered and battled over crafting the legislation. But failure was never an option, which permitted both sides to mark big wins.
Even before the deal was reached, news of the likely but elusive agreement had sent the stock market rocketing on Tuesday. The emerging rescue package would be larger than the 2008 bank bailout and 2009 recovery act combined.
The unprecedented economic rescue package would give direct a one-time payment of $1,200 per adult and $500 per child directly to the public.
A huge cash infusion for hospitals expecting a flood of COVID-19 patients grew during the talks at the insistence of Sen. Chuck Schumer, the Democratic leader, while Republicans pressed for tens of billions of dollars for additional relief to be delivered through the Federal Emergency Management Agency, the lead federal disaster agency.

Adds $600 Per Week to Unemployment Benefits

Democrats said the package would help replace the salary of furloughed workers for four months, rather than the three months first proposed. Furloughed workers would get whatever amount a state usually provides for unemployment, plus a $600 per week add-on, with gig workers like Uber drivers covered for the first time.
“It ensures that all workers are protected whether they work for businesses small, medium or large, along with self-employed and workers in the gig economy,” Schumer said.

Companies Get Tax Credit for Retaining Workers

Republicans won inclusion of an “employee retention” tax credit that’s estimated to provide $50 billion to companies who retain employees on payroll and cover 50% of workers’ paychecks. Companies would also be able to defer payment of the 6.2% Social Security payroll tax.
Democrats pointed to gains for hospitals, additional oversight of the huge industry stabilization fund, and money for cash-strapped states. A companion appropriations package ballooned as well, growing from a $46 billion White House proposal to more than $300 billion, which dwarfs earlier disasters — including Hurricane Katrina and Superstorm Sandy combined.
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.
Trump in recent days has sounded a note of frustration about the unprecedented modern-day effort to halt the virus’ march by essentially shutting down public activities in ways that now threaten the U.S. economy.

Leaders Warn Virus Prevention Efforts Could Continue into July

Even though Trump’s administration recommended Americans curtail activities for 15 days, starting just over a week ago, the president said he may soon allow parts of the economy, in regions so far less badly hit by the virus, to begin reopening.
He continued on that theme Tuesday as he weighed a relaxation of social distancing guidelines after the 15-day period is up. His suggestion that the pandemic could ease and allow a return to normalcy in a mere few weeks is not supported by public health officials or many others in government.
On Tuesday, top defense and military leaders warned department personnel that the virus problems could extend for eight to 10 weeks, or longer. Army Gen. Mark Milley, chairman of the Joint Chiefs of Staff, said during a Defense Department town hall meeting that the crisis could even extend into July.
Trump has balked at using his authority under the recently invoked Defense Protection Act to compel the private sector to manufacture needed medical supplies like masks and ventilators, even as he encourages them to spur production. “We are a country not based on nationalizing our business,” said Trump, who has repeatedly railed against socialism overseas and among Democrats.
For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. The vast majority of people recover from the new virus. According to the World Health Organization, people with mild illness recover in about two weeks, while those with more severe illness may take three to six weeks to recover.

DON'T MISS

City of Fresno Buys Half of Eldorado Park in Strategic Maxwell-Led Move

DON'T MISS

GOP Picks up Key House Seats While Democrats Say They Still Have a Path to a Majority

DON'T MISS

Costa Expands Lead Over Maher, Richardson Holds Narrow Edge on Bonakdar

DON'T MISS

Clovis’ Measure A and Sanger’s Measure M Get Good News with Thursday Vote Update

DON'T MISS

President-Elect Trump Has Sweeping Plans. Here’s What He’s Proposed.

DON'T MISS

New Look Basketball Bulldogs Open at Home. How Will They Fare Under Walberg?

DON'T MISS

Americans Seek Fresh Start Abroad as Election Sparks Expat Interest

DON'T MISS

President-Elect Trump Names Susie Wiles as Chief of Staff

DON'T MISS

Robert F. Kennedy Jr., Foe of Drugmakers and Regulators, Is Poised to Wield New Power

DON'T MISS

California Beat Trump in Court His First Term. It’s Preparing New Cases for His Second.

UP NEXT

Trump Promises to Bring Lasting Peace to a Tumultuous Middle East. But Fixing It Won’t Be Easy

UP NEXT

Trump Threatens 25% Tariff on Mexico to Curb Immigration

UP NEXT

North Korea’s Long-Range Missile Test Signals Its Improved, Potential Capability to Attack US

UP NEXT

Visalia Rollerblader Suffered Major Injuries After Being Struck by Vehicle

UP NEXT

Fresno County Man Indicted for Possessing Stolen Guns

UP NEXT

On Elon Musk’s X, Dems Are an Endangered Species While GOP Goes Viral

UP NEXT

New Vehicles, Face Paint and a 1,200-Foot Fall: The US Army Prepares for War With China

UP NEXT

CNN Bars Pro-Trump Guest After His ‘Beeper’ Remark to Mehdi Hasan

UP NEXT

LGBTQ Supporters Drown Out Westboro Baptists’ Anti-Gay Message in Fresno

UP NEXT

The ‘Black Insurrectionist’ Was Actually White. The Deception Did Not Stop There

Clovis’ Measure A and Sanger’s Measure M Get Good News with Thursday Vote Update

14 hours ago

President-Elect Trump Has Sweeping Plans. Here’s What He’s Proposed.

15 hours ago

New Look Basketball Bulldogs Open at Home. How Will They Fare Under Walberg?

15 hours ago

Americans Seek Fresh Start Abroad as Election Sparks Expat Interest

15 hours ago

President-Elect Trump Names Susie Wiles as Chief of Staff

16 hours ago

Robert F. Kennedy Jr., Foe of Drugmakers and Regulators, Is Poised to Wield New Power

17 hours ago

California Beat Trump in Court His First Term. It’s Preparing New Cases for His Second.

17 hours ago

With Mountain West Title Out of Reach, What Is Fresno State Playing For?

18 hours ago

Former Fresno State Bull Rider, a Vietnam Vet, Calls Central Valley Honor Flight ‘Life-Changing’

19 hours ago

Don’t Expect Kamala Harris’ Loss to Boost Gavin Newsom’s Presidential Prospects

19 hours ago

City of Fresno Buys Half of Eldorado Park in Strategic Maxwell-Led Move

The city of Fresno now owns a new park. Or at least half of it. Technically, the city of Fresno did not own El Dorado Park, at Barstow Avenu...

14 hours ago

14 hours ago

City of Fresno Buys Half of Eldorado Park in Strategic Maxwell-Led Move

The U.S. Capitol is seen from Pennsylvania Avenue in Washington, on Election Day, Tuesday, Nov. 5, 2024. (AP Photo/Jon Elswick)
14 hours ago

GOP Picks up Key House Seats While Democrats Say They Still Have a Path to a Majority

14 hours ago

Costa Expands Lead Over Maher, Richardson Holds Narrow Edge on Bonakdar

14 hours ago

Clovis’ Measure A and Sanger’s Measure M Get Good News with Thursday Vote Update

15 hours ago

President-Elect Trump Has Sweeping Plans. Here’s What He’s Proposed.

15 hours ago

New Look Basketball Bulldogs Open at Home. How Will They Fare Under Walberg?

15 hours ago

Americans Seek Fresh Start Abroad as Election Sparks Expat Interest

Trump co-campaign manager Susie Wiles is seen at Nashville International Airport as Republican presidential candidate former President Donald Trump arrives, July 27, 2024, in Nashville, Tenn. (AP File)
16 hours ago

President-Elect Trump Names Susie Wiles as Chief of Staff

Search

Send this to a friend