The White House and the US Senate have agreed on a historic $2 Trillion funding package to help boost the economy during the coronavirus pandemic.
The legislation agreed early Wednesday that it will send direct payments and jobless benefits to individuals , families, hospitals, public and private corporations who have been affected by the pandemic that has seen global financial markets fall and oil prices dwindle while hundreds die across the country.
The agreement, seen as an economic stimulus, is the biggest economic stimulus package in modern American history.
The deal to be signed by Trump in the coming days, was twice blocked by Democrats pushing for concessions, but after overnight tussling and convincing by Senate majority leader, Mitch McConnell, and Treasury secretary Steven Mnuchin, Minority leader Chuck Schumer, Democrat of New York, agreed on the financial package by 1 a.m Wednesday morning.
Eric Ueland, the White House legislative affairs director, told reporters at 1a.m
‘Ladies and Gentle men we are done’ “We have a deal,” he announced.
“We have either, clear, explicit legislative text reflecting all parties or we know exactly where we’re going to land on legislative text as we continue to finish.”
After the deal was reached stocks started to rise with the S&P 500 having its biggest daily gain since 2008 on Tuesday, rising more than 9 percent.
