We have a deal, folks!
It appears on early Wednesday morning, the White House and Republican and Democratic Senate leaders reached a deal to keep the American economy humming during the virus crisis and hopefully avoid depression in the second and third quarters.
The new Senate proposal will inject $2 trillion into the US economy, just like a shot of heroin, providing tax rebates, four months expanded unemployment benefits, and several business tax-relief provisions aimed at supporting individuals, families, and businesses, reported The Hill.
“The deal includes $500 billion for a major corporate liquidity program through the Federal Reserve, $367 billion for a small business loan program, $100 billion for hospitals and $150 billion for state and local governments.”
It will also give a one-time check of $1,200 to Americans who make up to $75,000. Individuals with no or little tax liability would receive the same amount, unlike the initial GOP proposal that would have given them a minimum of $600.” – The Hill
“At last we have a deal. … the Senate has reached a bipartisan agreement,” McConnell told the Senate at 0130ET.