READ: $2 Trillion Coronavirus Relief Bill

Alonzo Simpson
March 26, 2020

Chuck Schumer of New York, arrives for a meeting on Capitol Hill in Washington, Friday, March 20, 2020, to work on an economic relief package regarding the coronavirus.

"Let us tell them tonight that help is on the way, that they are not truly alone, that this country, that this Senate, that this government is here for them in a time of dire need", top Senate Democrat Chuck Schumer said moments before the vote. 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'.

Still, Pelosi said the need for more money for NY is "no reason to stop the step we are taking".

"'s more money because it pays you...for most workers, their full salaries".

And the legislation will provide direct payments to most Americans and significantly bolster unemployment insurance benefits. It will apply to traditional workers for small and large businesses as well as those who are self-employed and workers in the gig economy.

Cuomo said health officials anticipate about 120,000 coronavirus patients coming into New York's hospitals, which have a capacity of 50,000 beds. "Our health care system is not prepared to care for the sick".

$150 billion to state and local governments to address spending shortages related to the coronavirus pandemic.

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". Baldwin said they are hoping to do a voice vote in the House, as coordinating 435 members is a lot more hard than 100 senators.

The intensity of the crisis caught the Trump administration by surprise, and by Wednesday the president and his top lieutenants were demanding the Senate quicken the pace and pass the legislation.

Treasury Secretary Steven Mnuchin, who has led negotiations on behalf of the White House, said he had spoken to President Trump about the agreement and that Mr. Trump would absolutely sign it as it is written today.

There was some drama on Capitol Hill Wednesday, as a a small group of Republican senators objected last-minute to certain unemployment provisions.

Number of weekly jobless claims surge in Iowa, surpass 40,000
US unemployment claims rise 3.3 million for the week of March 21, 2020, according to the US Labor Department on March 26. The hotel industry alone has lost as many as 1 million jobs this month, the American Hotel and Lodging Association says.

He also acknowledged it was only one part of the overall response needed.

"Nobody thinks legislation can end this [coronavirus crisis]", McConnell said Wednesday. You can't outlaw a virus.

This isn't even a stimulus package. "Emergency relief. That's what this is". "That's what this is".

Swift passage of the $2 trillion package would be the third time a deeply divided Congress had acted to pass legislation responding to the coronavirus pandemic in recent weeks.

In response, Bash cited Senate Majority Leader Mitch McConnell's complaint that House Democrats were seeking to ram through policies on their "wish list".

"We've tried to get better and better and better at that, and this is just another example", he said.

McConnell formally announced the agreement on the Senate floor, saying, "At last, we have a deal". In 2008, during the Great Recession, checks weren't mailed until three months after the law was signed approving the checks. Democrats secured concessions on all three in the final deal.

The plan also includes several Democratic oversight initiatives.

The Treasury Ministry will use $ 425 billion of the $ 500 billion fund allocated to sectors, states and cities to support businesses, city and state governments.

According to a summary circulated by the office of Democratic leader Chuck Schumer, businesses owned by the president, vice president, members of Congress or heads of executive departments would be excluded from receiving that aid.

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