Coronavirus Updates: Trump, Congress Face Off Over Virus Stimulus as EU Agrees to $2.1 Trillion Deal

Stay informed with QuickTake's coronavirus coverage of up-to-the-minute stories on the COVID-19 crisis. #Coronavirus #Covid19 #CoronavirusUpdates

—

President Donald Trump acknowledged a “big flareup” of COVID-19 cases, but divisions between the White House and Senate Republicans and differences with Democrats posed fresh challenges for a new federal aid package with the U.S. crisis worsening and emergency relief about to expire.

Trump convened GOP leaders at the White House on Monday as Senate Majority Leader Mitch McConnell prepared to roll out his $1 trillion package in days. But the administration criticized the legislation’s money for more virus testing and insisted on a full payroll tax repeal that could complicate quick passage. The timeline appeared to quickly shift.

“We’ve made a lot of progress,” Trump said, but added, “Unfortunately, this is something that’s very tough.”

Lawmakers returned to a Capitol still off-limits to tourists, another sign of the nation’s difficulty containing the coronavirus. Rather than easing, the pandemic’s devastating cycle is churning again, leaving Congress little choice but to engineer another costly rescue. Businesses are shutting down again, many schools will not fully reopen and jobs are disappearing, all while federal aid will expire in days.

After four days and nights of wrangling, exhausted European Union leaders finally clinched a deal on an unprecedented 1.8 trillion-euro ($2.1 trillion) budget and coronavirus recovery fund early Tuesday, after one of their longest summits ever.

The 27 leaders grudgingly committed to a costly, massive aid package for those hit hardest by COVID-19, which has already killed 135,000 people within the bloc alone.

With masks and hygienic gel everywhere at the summit, the leaders were constantly reminded of the potent medical and economic threat the virus poses.

“Extraordinary events, and this is the pandemic that has reached us all, also require extraordinary new methods,” German Chancellor Angela Merkel said.

To confront the biggest recession in its history, the EU will establish a 750 billion-euro coronavirus fund, partly based on common borrowing, to be sent as loans and grants to the hardest-hit countries. That is in addition to the agreement on the seven-year, 1 trillion-euro EU budget that leaders had been haggling over for months even before the pandemic.

Subscribe to our YouTube channel

QUICKTAKE ON SOCIAL:

Follow QuickTake on Twitter: twitter.com/quicktake

Like QuickTake on Facebook: facebook.com/quicktake

Follow QuickTake on Instagram: instagram.com/quicktake

Subscribe to our newsletter

Email us at quicktakenews@gmail.com

QuickTake by Bloomberg is a global news network delivering up-to-the-minute analysis on the biggest news, trends and ideas for a new generation of leaders.