Mnuchin: Negotiators 'very close' to deal on coronavirus stimulus

The package carries a price tag of $2 trillion

The package carries a price tag of $2 trillion

House Speaker Nancy Pelosi arrives Monday to speak outside her office on Capitol Hill.

U.S. lawmakers closed in on a deal Tuesday to buttress the teetering economy by giving almost $2 trillion to hospitals, businesses and ordinary Americans buckling under the strain of the coronavirus pandemic.

"That is the expectation, that we will finish it tomorrow, and hopefully vote on it tomorrow", Mr Schumer told reporters on Monday.

Top White House economic adviser Larry Kudlow said the $2 trillion stimulus bill would work in tandem with $4 trillion in bolstered lending power by the Federal Reserve.

The President started talking about how to get people back to work around last Thursday, sources said, only three days after he helped roll out a 15-day plan from the Centres for Disease Control and Prevention (CDC) to stem the rise of cases by encouraging most people to stay home. If you have health benefits with that employer. you can keep getting them. Mr. Schumer said on the Senate floor Tuesday that, under the deal, the federal government would pay the full salary of workers laid off because of the pandemic for four months. Furloughed workers would get whatever amount a state usually provides for unemployment, plus a $600 per week add-on, with gig workers like Uber drivers covered for the first time.

Stocks rallied on the news that a deal was near, with the Dow Jones Industrial Average up more than 11% Tuesday afternoon. The Dow Jones Industrial Average was up almost 10% at noon. I believe that Senator McConnell can help.

"We're on the 5-yard line".

"I think there is a real optimism that we could get something done in the next few hours", Mrs. Pelosi said on CNBC, adding: "We think the bill has moved sufficiently to the side of workers".

USA lawmakers scrambled Tuesday to seal a deal that buttresses the teetering economy by giving roughly $2 trillion to hospitals, businesses and ordinary Americans buckling under the strain of the coronavirus pandemic.

Those items include greater collective-bargaining powers for unions, new fuel-emission standards for airlines, expanded tax credits for green energy, mandates for states to allow early voting and same-day voter registration, a bailout for the U.S. Postal Service, and automatic extension of non-immigrant visas.

The legislation could be back on the table for a procedural vote as soon as Tuesday, Texas Senator John Cornyn said.

"Neither of us think they're in any way going to get in the way of a final agreement".

Opening the Senate on Tuesday, McConnell combined optimism about the chances for a deal with frustration at the delays - and a sober view of the crisis at hand.

"The American people have had enough of this nonsense".

"We need to explain where we are to Senate Republicans, walk through language and make sure they're comfortable - anytime where there are a few outstanding issues where we are not quite done", Ueland said. Before Tuesday, Republicans said they were exasperated by an increasing number of new demands. Chuck Schumer, said agreement appeared close on the almost $2 trillion package.

Treasury Secretary Steven Mnuchin, the administration's point man in the stimulus talks, would have to tell lawmakers about what companies were tapping the aid, according to the administration official.

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