Senate trudging toward vote on virus rescue package

New Senate Stimulus Bill Would Ban Companies Owned by Trump or His Children From Receiving Any Bailout Money

The bill had been due to pass the chamber Wednesday before heading to the House of Representatives and then President Donald Trump's desk.

McConnell noted that much of the $2 trillion legislation is built on the proposal that Senate Republicans unveiled on Sunday, and he downplayed changes Democrats were touting. House Democrats introduced a competing measure on Monday in the event a Senate deal collapsed.

Outbreaks have grown nationwide, but with particular fear that NY could be the next epicenter of the coronavirus pandemic.

"We couldn't be more pleased with the unprecedented response from the Senate to protect American workers and American business in this situation", Treasury Secretary Steven Mnuchin said at the daily White House coronavirus task force briefing, flanked by Trump, Vice President Pence and others.

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.

After more than a week of squabbling over what should go into the third coronavirus relief package, the White House and Senate leaders reached a compromise on Tuesday night. If even a single representative objects, the situation gets tricky, as a regular roll-call vote would be required, but the House is now out of session.

[Democratic Leader Chuck] Schumer (D-N.Y.) "added a provision to ban businesses owned by the president, vice president, members of Congress and the heads of federal executive departments from receiving loans or investments through the corporate liquidity program".

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"From arguably the most divisive thing you could possibly do to coming together entirely, 100 of us, to meet this challenge - I think says a lot about the United States Senate as an institution, our willingness to put aside our differences to do something really significant for the country".

The agreement came just hours after Trump told a Fox News town hall he wanted to ease coronavirus guidelines by Easter, saying he thought the restrictions had gone too far. She is hopeful the bill will pass the full Congress Wednesday.

"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.

Diane Swonk, chief economist at Grant Thornton, a major accounting firm, wrote in a blog post Wednesday that the bill is created to temporarily help individuals, firms of all sizes, hospitals and states "traverse COVID-tainted waters".

A $2 trillion aid package to ease the economic damage wrought by COVID-19 is nearing the finish line in Washington, D.C. In fact, our unemployment claims in Montana since march 17th, we just looked it up 15 minutes ago, 14,350 Montanans have filed for unemployment in the last week'.

National Economic Council Director Larry Kudlow, adding that another $4 trillion through lending power for the Federal Reserve is included in the COVID-19 package, said that it would be the "single largest main street assistance program in the history of the U.S".

The deal includes a $150 billion boost in hospital funding and a $150 billion fund for state and local governments, both pushed for by Democrats. To protect members from the risks of exposure, the House will hold a voice vote on the bill. And, the mixed message about testing for the coronavirus. There's a ton of money in this bill for people who need it, but what we're doing now is, every special-interest group in town is trying to get a little bit more - nickling and diming at a time when people are dying, literally dying'.

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